MANILA - Binance, one of the largest cryptocurrency exchanges in the world, said it plans to support blockchain education in the Philippines as it waits on its license application from the Bangko Sentral ng Pilipinas.
Binance head of Asia Pacific Leon Foong said the students who will be accepted to the program will be called "blockchain scholars".
"There will be an assessment to test the base level of blockchain knowledge and those qualified will get funded to go to a university of their choice," said Foong.
This is on top of its existing partnerships with some schools in Metro Manila to offer classes on blockchain and cryptocurrency. Foong said they wanted to raise awareness and knowledge among Filipino youth so they can properly utilize blockchain technology and be protected from cybercrimes.
"User education is the most important and strongest form of user protection," he said.
Foong added that the Philippines remains a key market for Binance and blockchain in general. This is due to the quick adoption of Filipinos to digital assets and e-wallets as well as the huge population of the country.
"We would like to encourage more entrepreneurs, more businessmen who have interest in leveraging the blockchain to build up new business models," said Foong.