Cagayan Freeport- The Cagayan Economic Zone Authority through the leadership of Secretary Raul L. Lambino, Administrator and CEO successfully conducted another series of its initiated webinar on Blockchain and Financial Technology last November 18, 2021 via Zoom Webinar and aired via CEZA Facebook Live.
Secretary Raul L. Lambino, CEZA Administrator and Chief Executive Officer as represented by PCSupt. Agrimero Cruz, Jr, Deputy Administrator in his opening keynote welcomed all the participants, extended his thanks to the organizers and all other attendees who have joined the virtual conference and discussed what the future holds for cryptocurrency and blockchain which according to him is still very much in question. Deputy Administrator Cruz said that nobody can completely explain the future of financial innovations wherein a lot of these exist nowadays such as the NFTs or the non-fungible tokens which accordingly is the latest application of blockchain technology and is expected to not only generate huge revenues but to create new job opportunities for Filipinos as well. He also emphasized the goal of Secretary Raul L. Lambino for the agency to start the shift towards digital technology in the Freeport Zone and invited its partner local government unit, the Santa Ana LGU to seal the strong partnership of accelerated growth in harnessing these opportunities with CEZA.
Atty. Mike Gerald C. David, Special Assistant to the A/CEO for Financial Technology as CEZA presenter discussed the foundations on blockchain and financial technology, its background, industry acceptance, situation and regulations in Southeast Asian countries including the Philippines. Atty. David’s presentation offered valuable insights, a fresher look at the industry in the face of rapidly advancing technology. He said that the financial technology industry encompasses technology enabled firms offering financial services directly to financial institutions and that the presence of financial technology being utilized to help big companies, business owners and consumers manage their financial operations and processes by the use of specialized software and algorithms that are used on computers and increasingly on smartphones. A stream of questions have been posted in the provided chat box during the webinar and Atty. David answered them with clarity and provided insights on the position of CEZA when it comes to cryptocurrencies, blockchain and financial technology.
Mr. Leonardo C. Cruz, the Head Technical Assistant and the Officer in Charge of the CEZA Cagayan Offices and OIC- Department Manager for Marketing and Investment promotions in his closing message has thanked the participants from the various CEZA Locators, partner LGU, the Santa Ana Local Government Unit headed by Honorable Mayor Nelson Robinion and Vice Mayor Gaylord Robinson Ibus, the Barangay Captains, Sangguniang Bayan and Kabataan, their constituents, together with the CEZA Officials and personnel. He stressed that in a short span of time, the proliferation of Financial Technology has disrupted international trade and commerce. Industries are now slowly adopting the innovations of the blockchain space and a number of countries have started regulating blockchain technology – while others have shut their doors and eliminated all venues for regulation.
Mr. Cruz highlighted the webinar’s objective which accordingly is not only to educate and touch base of the most basic principles, fundamentals, regulations and innovative-driven opportunities brought by the Financial Technology Industry but also to invite the different business communities to explore the vast opportunities at the Cagayan Special Economic Zone and Freeport and take advantage of what CEZA can offer. He also stated that with a promising economic profile, continuous improvement and reforms, as well as strong government support, CEZA is now ready to be the partner in recovery and growth of the business entities because with “CEZA, The Future Is Without Limits” and the agency will surely Make It Happen for its business partners.