Dr. Donald Lim, founder of the Blockchain Council of the Philippines, believes that the country has the potential to become the blockchain capital of Asia due to its young population, technical know-how, and government's open stance on crypto and blockchain. Lim cited the success of the play-to-earn game Axie Infinity in the Philippines, which introduced web3 concepts and crypto wallets to the country.

He also mentioned the interest of global players in setting up their projects in the Philippines, and the onboarding of over 400 businesses in the country to accept Bitcoin payments. While living solely on Bitcoin or crypto is still a long way off, Lim believes that it's only a matter of time before crypto adoption becomes bigger and expands beyond payments.