Philippines Invest In Blockchain To Shield Itself From AI Incursion

Blockchain technology will aid the Philippine economy to maintain jobs that the advent of artificial intelligence (AIs) is supposed to get rid of, as reported by Edwin Bautista, president, and CEO of Union Bank of the Philippines. "Blockchain could play an important role in the Philippine economy. If we play it right, we have the potential to emerge as one of the leaders in block chain's future." The emerged AIs will eliminate many jobs, and developing the blockchain abilities of Filipinos could cancel out these job losses, Bautista added on the sidelines of the launch of XLOG, a Block chain-based logistics solutions platform developed provincially. The founder and CEO of XLOG creator Shiptek, Eugenio Ynion Jr., repeated Bautista's warning about the threat of robots for hundreds of thousands of Filipino jobs. "Me and my wife just came from China to discuss XLOG with capitalists there, and we were informed by Chinese officials that their country would be needing close to five million IT developers, programmers, etc., over the next five years.