A cryptocurrency was launched in the Philippines by black-chain pioneer and the CEO of 3lock, Jon Blaylock, to raise funds for the churches in their country. The digital currency was named 'Project Ophir Crypto.'
Fundraising for Churches in the Philippines
The fundraising effort, "Project Ophir Crypto," is being conducted as part of an international cryptocurrency fundraising campaign. The funds raised will be contributed to the General Mariano Alvarez Fellowship of Christian Churches (GMAFEC), a charitable organization headquartered in Cavite.
Coconuts Manila reported that donors would automatically be given $OPHIR in exchange for their USDT, USDC, ETH, SLP, HEX, or TEXAN contributions. After that, GMAFEC will put the money to use to support the organization's ongoing efforts and educate tens of thousands of congregations. Additionally, as a thank-you for their contribution, they will receive Ophir tokens with no monetary worth. Yet if and when Ophir is finally made available for trade in the future, these may still become more valuable.
Ophir is a digital currency that is decentralized and that makes use of the world's first investment smart contract that is stored on the blockchain. It was established by 3lock CEO Jon Blaylock, who formerly served as a church pastor. The biblical land of Ophir is reportedly the inspiration for the city's moniker.
According to Blaylock, "opportunities for positive transformation are limitless" if religious institutions and other groups can figure out how to implement blockchain technology. He highlighted that the opportunities for churches and other organizations embracing digital currencies to enhance their influence would be excellent, stressing that prospects for beneficial change are infinite.
On the other hand, Philstar Global reported that data provided by the Banko Sentral ng Pilipinas (BSP) stated that the number of cryptocurrency trades reached approximately 20 million in the first half of 2021, representing a year-on-year increase of 362%.
Research estimates that the total value of these trades came to 105.93 billion Philippine pesos. Moreover, the local popularity of cryptocurrencies is on the rise. As a result, a recent survey found that the Philippines is sixth in the world in terms of ownership of cryptocurrency, with 28% of people reporting that they own some form of digital currency.
About Jon Blaylock
According to Business World, Jon Blaylock has held various positions throughout his career, including front man and manager for a punk rock band headquartered in the United Kingdom, founder, and chief executive officer of a digital marketing business, and, most recently, founder of a crypto private equity firm.
Blaylock also served as the worship pastor for a church plant at Imperial College, London, before becoming the head of marketing and strategic planning for Diamond Motor Corp. In this role, he worked closely with various nongovernmental organizations and youth groups to support young people and effect constructive societal change.
He holds a master's degree in music business management and digital transformation and has a strong track record in the fundraising and administration of nonprofit organizations, decided to launch Ophir, a fully decentralized cryptocurrency that makes use of the world's first endowment smart contract on the blockchain. The purpose of Ophir is to provide resources and education to beginning churches in the Philippines and other nations that are developing worldwide.
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