Blockchain, in a nutshell, is an incorruptible public digital ledger that can be checked or confirmed by anyone via the internet. It uses peer-to-peer technology, thereby allowing anyone to take part.īlockchain, on the other hand, is the technology that makes bitcoin or any cryptocurrency viable. Bitcoins can be exchanged for products, services or even other currencies. It is a cryptocurrency or a form of electronic cash. In 2008, Satoshi Nakamato (whose real identity remains a mystery) released a paper entitled “Bitcoin: A Peer-to-Peer Electronic Cast System.” Bitcoin is a decentralized digital system that allows people to exchange money without having to go through intermediaries like banks. The Emergence of Bitcoin and Blockchain Technology It aims to further blockchain’s reach and use in the health tech, FinTech, edutech, Artificial Intelligence, data analytics and other industries. The lab is poised to become a venue for research and education of blockchain technologies. Once blockchain technology matures and public interest heightens, blockchain research and development will have to make their way into the corridors of educational institutions. The lab has the support of two blockchain pioneers in the country: MediXServe, a health-tech company that uses blockchain in securing medical and health records, and NEM Philippines, a chapter of the NEM Foundation, which is a blockchain platform provider. To keep pace with the growing demand, the Ateneo de Manila University set up AMBERLab (Ateneo-MediXServe Blockchain Education and Research Lab).ĪMBERLab is the first university-based blockchain research laboratory in the Philippines. From supply chain and contract management to insurance and healthcare, the technology’s potential to revolutionize the way things are done continues to draw the attention of scholars, researchers and scientists. A decade after the whitepaper on Bitcoin was released, demand for block chain technology, Bitcoin’s backbone, is on the rise.
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