Recently, I had the privilege of sitting down with Eliezer Rabadon, CEO and co-founder of Divicode Technologies Incorporated and Tech Lead of ICP Hub Philippines, for an illuminating conversation that cut through the jargon to reveal the transformative potential of these technologies for Filipino developers and entrepreneurs.In a rapidly evolving technological landscape, terms like "blockchain," "Web3," and "cryptocurrency" have become increasingly common, yet their practical implications and potential remain unclear to many.
The Journey from Traditional Tech to Web3
Eliezer's path into the world of blockchain technology began like many others—through personal exploration and curiosity. "I first experienced Bitcoin back when I was working at 7-11," he recalled, referencing the cash-in and cash-out services available around 2016. His professional involvement deepened in 2017 when he joined an IT Solutions company in Pasig that was exploring blockchain applications.
"I became a research and development head, trying to figure out how we could utilize this technology," Eliezer explained. This exploration continued until the explosion of Axie Infinity in the Philippines, which revealed new possibilities for combining gaming economics with blockchain technology.
With a background in gaming, Eliezer saw the potential for applying economic principles from games to various projects "for the people." This insight led to the establishment of Divicode Technologies and eventually to his role as Tech Lead for ICP Hub Philippines, where he now leads initiatives to promote Web3 development throughout Luzon, Visayas, and Mindanao.
What struck me most about Eliezer's journey was the deeply personal motivation behind his work. "I know the struggle of being an entrepreneur or programmer trying to create a project and survive in the Philippines," he shared. "My drive for these initiatives is to give a platform and opportunities to aspiring entrepreneurs and developers."
This sentiment resonated with me, as I've observed many talented Filipino students who initially dream of starting their own businesses, only to abandon these aspirations due to lack of support, particularly in securing funding. They ultimately take traditional employment to support their families, finding it nearly impossible to pursue entrepreneurship simultaneously.
ICP Hub Philippines: Creating Opportunities from Zero
ICP Hub Philippines represents a different approach to technological entrepreneurship—one that starts from zero and focuses on education and community building rather than immediate profit. Their initiatives include workshops, hackathons, and educational programs designed to reach Filipino developers where they are, regardless of their starting point.
"We partner directly with universities to target student builders, and we also have regular meetups," Eliezer explained. "We're expanding beyond Manila to reach like-minded people that we can collaborate with to increase our network and scale further."
When I asked about the risk of investing resources in people with zero knowledge who might not be committed to progress, Eliezer offered a refreshing perspective on how they approach this challenge. "The way we minimize the risk is different from the current perspective and point of view," he explained. "In Web3, these hackathons are funded by Dfinity Foundation globally and locally by ICP Hub Philippines. These initiatives are truly zero in terms of equity—literally giving away resources."
This approach stands in stark contrast to traditional startup funding, where investors typically demand significant equity stakes in exchange for relatively small investments. "The traditional approach is to give education about business, provide some funding, but take 70-80 percent of your company," Eliezer noted. "What blockchain networks like ICP want is simply for developers to build projects on top of their platform."
The underlying economic model makes more sense when understood from the perspective of ecosystem building. As Eliezer explained, "When you build a sustainable business on the blockchain, the network benefits when users increase and the ecosystem grows. In terms of fees and capital infusion, that's where blockchain networks make their bet."
This model has already produced some notable successes. Eliezer highlighted two projects that emerged from their hackathons: Waste-to-Earn in Davao City, which focuses on environmental sustainability by creating incentives for recycling, and Agricontrol Plus in Luzon, which addresses agricultural challenges. Both projects have secured partnerships with local government units or agencies—a testament to the real-world impact these initiatives can create.
Demystifying Blockchain: A Technology for Everyone
A significant portion of our conversation focused on making blockchain technology accessible to those without technical backgrounds. Eliezer offered two helpful frameworks for understanding blockchain—one for consumers and one for developers.
From a consumer perspective, he compared blockchain to instant payment services like Instapay, but with key differences: "If Instapay charges 8-15 pesos per transaction and sometimes experiences downtime, blockchain operates 24/7, is borderless (accessible from anywhere with internet), and charges only a fraction of a centavo regardless of the transaction amount."
He illustrated this with a practical example: "Imagine you're sending money from Qatar or Dubai to the Philippines—the traditional fees would be substantial. With blockchain, it's just cents, available 24/7, and you know immediately when the transaction is complete."
The trade-off comes in the form of increased personal responsibility. "The difference is that in blockchain, there's no central authority. Transactions are peer-to-peer, meaning you and the other party are solely responsible for your transaction. If you send to the wrong address, that money is gone—no customer service can help recover it."
From a technical perspective, Eliezer described blockchain as "a type of database that's open to the public, where everyone can see the contents." This transparency ensures data integrity and provides 24/7 availability for transactions. For developers, blockchain can significantly reduce costs by providing ready-made modules for wallets and balance management.
Security in the Blockchain Era
When discussing security concerns, Eliezer wore his "cybersecurity researcher hat" to provide nuanced insights. "There's no 100 percent secure system," he acknowledged, noting that hacks and asset theft can occur in both traditional and blockchain systems.
The fundamental difference, however, lies in asset control: "What blockchain gives you is freedom—the power to control your assets without the possibility of them being frozen by any third party. No person or government can tell you that you can't use your Bitcoin or Ethereum."
This freedom comes with responsibility. In traditional e-wallets, accounts are linked to mobile numbers and can potentially be frozen under certain circumstances (though this is rare for average users). With blockchain wallets, security depends entirely on the private key—a set of words known only to the owner.
"Your assets can only be frozen if you lose your words—your private key," Eliezer explained. "At that point, neither you nor anyone else can access the funds in that wallet." This represents a paradigm shift in how we think about digital ownership—complete control with complete responsibility.
The Evolution of Blockchain Economics
Our conversation also explored how blockchain economics has evolved over time, from the early days of Initial Coin Offerings (ICOs) to the development of more sophisticated Decentralized Finance (DeFi) models.
Eliezer candidly described the problems with early ICOs around 2013-2016: "It was basically money from nothing—'here's our coin, here's the value, buy it and it will grow 10x.' Many turned out to be Ponzi schemes." This era was characterized by promises without substantial backing or reserves.
The introduction of smart contracts and standards like ERC-20 changed the landscape, enabling the rise of DeFi. A key concept in this evolution was liquidity pools—mechanisms that pair established valuable tokens with new tokens to create value stability.
However, problems persisted due to what Eliezer called "Ponzinomics"—tokenomics where a large percentage of tokens (sometimes 90%) were sold to the public while the backing liquidity remained minimal (less than 10%). "When everyone tries to sell, the liquidity pool gets depleted, and mathematically speaking, the price collapses," he explained.
More recent innovations have attempted to address these issues through "fair launch" mechanisms, where even project creators must buy their allocation of tokens. Platforms like pump.fun have automated token generation with built-in rules to ensure fairer distribution.
Yet these solutions have created new challenges: "Every second, minute, hour, countless tokens are being generated. Ninety-five percent of the meme coins launched on that platform have no activity afterward." This proliferation of worthless tokens demonstrates that technology alone cannot solve economic fundamentals—sustainable value creation still matters.
ICP: Building the Next Generation Internet
Throughout our conversation, Eliezer emphasized that blockchain technology, particularly ICP, extends far beyond cryptocurrency speculation. ICP (Internet Computer Protocol) represents an evolution in blockchain capability—a platform for building complete applications, not just storing value or simple smart contracts.
"Web3 allows us to create business models that weren't possible before," Eliezer noted. "It enables truly borderless and seamless transactions." This capability addresses longstanding challenges for online entrepreneurs: "The dreams of the past—having an easy, affordable way to receive payments from anywhere—are now reality."
This vision aligns with what Dominic Williams, founder and chief scientist of Dfinity Foundation (the major contributor to ICP), describes in the video we watched during our conversation. Williams explained that the Internet Computer is designed to be a "world computer"—an extension of the internet that can host almost any system or service using smart contracts.
Unlike earlier blockchains with limited functionality, ICP aims to "host things like social networks and enterprise systems on the blockchain itself." To achieve this, it must "scale without limit, host any amount of data, any amount of computation, and do so very efficiently."
The result is what Williams calls a "blockchain singularity," where "almost everything one day will be built on the blockchain...that's the everything stack that will eventually eat centralized technology."
Practical Applications and Future Potential
Beyond the technological concepts, Eliezer and I discussed the practical impact these technologies could have for Filipinos. He highlighted how the Philippines could develop its own social platforms tailored to local needs rather than simply following international trends.
"The Chinese have their own apps, Korea has their own," he noted. "Why aren't we doing it? We need to be proud if we could have a social marketplace like Facebook that's truly for Filipinos."
We also explored how the transition to digital payments during the COVID-19 pandemic has already changed consumer expectations. "My money is in GCash or e-wallets, and we scan QR codes. If a store doesn't accept GCash, our reaction is 'why not?'" This behavioral shift suggests that further evolution toward crypto-based payments may be a natural progression.
"It won't be surprising if we just switch to a different wallet with crypto inside that merchants accept," Eliezer predicted. "The time will come when that happens."
Challenges and the Path Forward
Despite his enthusiasm for the technology, Eliezer remained grounded about the challenges ahead. The knowledge barrier remains significant—explaining blockchain concepts often feels like "talking about the internet during World War II" to many people. Cultural priorities also play a role, as "more people are interested in gossip and showbiz rather than technology."
Yet there's reason for optimism. The initiatives led by Eliezer and ICP Hub Philippines are creating tangible opportunities for Filipino developers and entrepreneurs to engage with emerging technologies on their own terms. By emphasizing education, collaboration, and real-world problem-solving, they're building a foundation for sustainable innovation.
"We're very sincere about providing opportunities," Eliezer emphasized. "And it's not just us—other blockchain networks have similar initiatives in the Philippines. We often collaborate regardless of which blockchain you're using."
The Power of Collaboration
Perhaps the most compelling theme throughout our conversation was the emphasis on collaboration over competition. In an industry often characterized by tribalism and speculation, Eliezer's focus on community building and shared success offers a refreshing alternative.
"The mindset we're sharing is the power of collaboration," he explained. "We want to give opportunities and spotlight to fellow developers and aspiring entrepreneurs—young people who can see a way forward in their careers without having to compete in our oversaturated IT industry."
This collaborative approach extends beyond individual projects to include partnerships with educational institutions, local government units, and even other blockchain networks. "In Web3, it's all about what we can do together, what value we can provide, what's in it for you, what's in it for us, and what's in it for the community."
This mindset represents a potential pathway not just for technological development but for economic empowerment. By creating spaces where innovation is encouraged and supported from the ground up, initiatives like ICP Hub Philippines are helping to nurture the next generation of Filipino technologists and entrepreneurs.
Beyond the Hype to Real Opportunity
My conversation with Eliezer Rabadon cut through much of the noise and speculation that often surrounds blockchain technology to reveal its practical potential for Filipino developers and entrepreneurs. While challenges remain—from security concerns to economic volatility—the fundamental innovation of providing true digital ownership and borderless transactions offers genuine possibilities for solving real-world problems.
What makes initiatives like ICP Hub Philippines particularly valuable is their focus on accessibility and education. By meeting developers where they are—whether in universities, local communities, or online spaces—they're creating pathways for talent to engage with emerging technologies regardless of background or resources.
The zero-equity funding model represents a particularly promising innovation, enabling aspiring entrepreneurs to start building without sacrificing control of their vision. This approach recognizes that ecosystem growth benefits all participants, creating incentives for established players to support new entrants rather than extracting maximum value from them.
As our digital infrastructure continues to evolve, the distinction between Web2 and Web3 may become increasingly blurred for end users. The transition to digital payments and online services has already conditioned consumers to expect convenience and immediate feedback—blockchain technologies simply extend these capabilities while redistributing control from centralized authorities to individual users.
For developers, entrepreneurs, and students interested in exploring these opportunities, Eliezer's invitation is open: "Follow my socials, join our events and activities. Even a simple meetup can be the start of your journey." Through education, collaboration, and community building, Web3 technologies like ICP offer a potential pathway not just to individual success but to technological sovereignty for the Philippines.
As we concluded our conversation, Eliezer gave a shoutout to his teams at Web3 Bulacan, Divicode, and ICP Hub Philippines—the communities that are making this work possible. In that moment, I was reminded that beyond the technology itself, it's the people and relationships that drive meaningful innovation. By fostering these connections and creating spaces for collaboration, we can help ensure that emerging technologies serve the needs of all Filipinos, not just those with existing advantages.
The future of blockchain and Web3 in the Philippines remains unwritten, but through the efforts of pioneers like Eliezer Rabadon and organizations like ICP Hub Philippines, more Filipinos will have the opportunity to contribute to this story. As educators, developers, and community builders, our role is to ensure these opportunities remain accessible to all who seek them—particularly those "diamonds in the dust" whose potential might otherwise go unrecognized.
Whether you're a developer looking to build your first decentralized application, an entrepreneur seeking new business models, or simply a curious observer of technological trends, there's a place for you in this evolving ecosystem. The journey begins with education and community—two resources that, unlike traditional funding, are being made freely available to all who seek them out.
In the words often attributed to African wisdom: "If you want to go fast, go alone. If you want to go far, go together." The collaborative approach championed by Eliezer and ICP Hub Philippines suggests that in the Web3 era, we might finally have the tools to do both—moving quickly into new technological frontiers while ensuring no one gets left behind.
Key Takeaways from My Conversation with Eliezer Rabadon
As we navigate this evolving landscape, maintaining a balance between enthusiasm and critical thinking remains essential. The technology itself is neither a panacea nor a passing fad—rather, it's a toolkit that enables new approaches to longstanding challenges in digital ownership, trust, and value exchange.
By focusing on education, collaboration, and real-world problem-solving, we can help ensure that these tools serve the needs of all Filipinos, creating opportunities for the next generation of developers and entrepreneurs to build a more inclusive digital future.
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