PNB looks into use of bitcoin!

[CongHoan]

that's awesome my contry doesn't allow btc

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I am also an employee of a bank its good thing to know that there are banks who wants also to adapt bitcoin in their banks.Its a long due process before BSP implement it on any establishments they study crypto very well because in terms of money we should be careful.So we bitcoiners hoping for a good result of PNB pursue bitcoin transactions.

[passwordnow]

Good news, they are looking into use of bitcoin. I know that there are some banks in Philippines that ready to adopt bitcoin and blockchain.
This is one of the bank that will use blockchain to the payment system - https://www.coindesk.com/philippines-banks-use-visas-blockchain-payments-platform/

its nice to hear that, i think my country which is philippines was met with new technology,even we are facing more tragedy we are still strong and has unity.

Philippines is one of the Asian country that is supporting bitcoin and other cryptocurrencies as well. It's not about tragedy or unity, other countries are also with those, even worst.

[Reatim]

Is it bitcoin that they are really interested or blockchain instead.

Although bitcoin and crypto is freely open in the Philippines, its doesn't have enough traction on the country. They only have coins.ph, which is the most recognizable exchanges in the country.

And just like any banks around the world, PNB will like be against bitcoin so I have doubts about this news. So I think we should observe if this is really the way PNB wanted in the long run.

[jonas5222000]

I am also an employee of a bank its good thing to know that there are banks who wants also to adapt bitcoin in their banks.Its a long due process before BSP implement it on any establishments they study crypto very well because in terms of money we should be careful.So we bitcoiners hoping for a good result of PNB pursue bitcoin transactions.


 I think before they do it ,they think it really well because it so complicated.but we glad that our banks and our national bank was supported this project,and i think that it will attrack more investor because many of banks now was suported this bitcoin.

[btctestcolets]

Good news, they are looking into use of bitcoin. I know that there are some banks in Philippines that ready to adopt bitcoin and blockchain.
This is one of the bank that will use blockchain to the payment system - https://www.coindesk.com/philippines-banks-use-visas-blockchain-payments-platform/

its nice to hear that, i think my country which is philippines was met with new technology,even we are facing more tragedy we are still strong and has unity.

Philippines is one of the Asian country that is supporting bitcoin and other cryptocurrencies as well. It's not about tragedy or unity, other countries are also with those, even worst.

Absolutely , Philippines is one top contender in participating digital cryptocurrency in blockchain world wide tread so there is no reason why banks in Philippines will interested because of huge exchange of transaction fee it gets in the banks so having this adaption it necessery for every users of bitcoin to withdraw there money directly in easy way.

[PalindromemordnilaP]

That's a good example of how banks should embrace cryptocurrency especially bitcoin. If only all the banks have the perspective like these banks in the Philippines, then bitcoin's market value may have already reached so high today.

[jonas5222000]

That's a good example of how banks should embrace cryptocurrency especially bitcoin. If only all the banks have the perspective like these banks in the Philippines, then bitcoin's market value may have already reached so high today.

Agree..i think they need to accept bitcoin in their company or banks because it will give to them a big impact because as of now investor in bitcoin was increasing and increasing as the time goes by and also in bitcoin it will make a big impact too,the price of bitcoin could increase.

[jatin729]

Good news for all Filipinos and the others

In my country the Philippines National Bank (PNB) was looking into use of bitcoin,i was wondering if it  can may affect the price of bitcoin?


TOP official of the Philippine National Bank (PNB) vows to study bitcoin amid Bangko Sentral ng Pilipinas (BSP) accepting stance on cryptocurrencies. PNB chair Flor Gozon Tarriela said they are looking at bitcoin and blockchain technology very cautiously but stressed the bank is not into it yet. “PNB will closely study the disruptions going on in the financial sector. We want to know more about the trends. We want to be aware of what is happening. But as to our plans to venture, we are not into it yet,” said Tarriela, adding that they are in the process of studying its dynamics and its possible effects to the banking business. A bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. While it recognized the potential benefits of virtual currencies as it facilitate the movement of funds at a much faster, cheaper, and convenient way, the BSP is equally cautious of the potential risks including illicit activities such as money laundering and terrorist financing.

It has advised the public that they have to be conscious of the opaqueness of transactions involving bitcoins. To minimize risks, the BSP encouraged existing and prospective virtual currency users to deal only with BSP-registered virtual currency exchanges and maintain only a sufficient amount of virtual currency enough to address transaction requirements. BSP warned that virtual currency users should properly secure their virtual currency holdings and observe security tips to protect the confidentiality and integrity of personal information and transaction details. “The BSP still has to issue regulations on this virtual currencies. But, we, in the banking industry advocate the know-your-customer first,” said Tarriela. PNB’s thrust this year is to go digital. Tarriela said they have launched mobile banking apps to cater to the needs of the tech-savvy market. “The way to go, really, is digital,” she said, adding that this will also help them reach out to the unbanked population.

Source : http://www.sunstar.com.ph/cebu/business/2018/03/09/pnb-looks-use-bitcoin-592675

That's is very good initiative taken by PNB because they realize the potential of blockchain in banking sector, it should be adopted by all banks to maximize the productivity and minimizing the transaction time. I also want to add news that one of my friend running a project name GBcoin it is russia based project , they are going to create an bank which will run on blockchain and Gbsystem will be handled thousands of transaction per second,
This is how blockchain technology can change the banking system in future.

[goodvibes05]

This is great news for my country  and for my fellow Filipino. Maybe it is not yet finalized but at least showing interest of PNB and BSP to study and accept the stance of cryptocurrency is really a great news, PNB to go digital and planning to venture into blockchain and cryptocurrency is definitely a big step towards digital technology. If this happens, for sure other banks will follow their steps too.

[SummerBliss]

Good news for all Filipinos and the others

In my country the Philippines National Bank (PNB) was looking into use of bitcoin,i was wondering if it  can may affect the price of bitcoin?


TOP official of the Philippine National Bank (PNB) vows to study bitcoin amid Bangko Sentral ng Pilipinas (BSP) accepting stance on cryptocurrencies. PNB chair Flor Gozon Tarriela said they are looking at bitcoin and blockchain technology very cautiously but stressed the bank is not into it yet. “PNB will closely study the disruptions going on in the financial sector. We want to know more about the trends. We want to be aware of what is happening. But as to our plans to venture, we are not into it yet,” said Tarriela, adding that they are in the process of studying its dynamics and its possible effects to the banking business. A bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. While it recognized the potential benefits of virtual currencies as it facilitate the movement of funds at a much faster, cheaper, and convenient way, the BSP is equally cautious of the potential risks including illicit activities such as money laundering and terrorist financing.

It has advised the public that they have to be conscious of the opaqueness of transactions involving bitcoins. To minimize risks, the BSP encouraged existing and prospective virtual currency users to deal only with BSP-registered virtual currency exchanges and maintain only a sufficient amount of virtual currency enough to address transaction requirements. BSP warned that virtual currency users should properly secure their virtual currency holdings and observe security tips to protect the confidentiality and integrity of personal information and transaction details. “The BSP still has to issue regulations on this virtual currencies. But, we, in the banking industry advocate the know-your-customer first,” said Tarriela. PNB’s thrust this year is to go digital. Tarriela said they have launched mobile banking apps to cater to the needs of the tech-savvy market. “The way to go, really, is digital,” she said, adding that this will also help them reach out to the unbanked population.

Source : http://www.sunstar.com.ph/cebu/business/2018/03/09/pnb-looks-use-bitcoin-592675

As far as i am awared about this news they are just making some discussions and planning to adopt its usage in their payment system but until they have not done any such things. But according to me if they even adopt the usage in their system this gonna put zero or less significance in the price of bitcoin as it is only concerned to phillipines and many other banks there have already done the same adoption but nothing has changed.Phillipines is a smaller country with less dominace in bitcoin environment unlike other countries like china and USA so don't me much happy on this news.

[Kelvinid]

This is great news for my country  and for my fellow Filipino. Maybe it is not yet finalized but at least showing interest of PNB and BSP to study and accept the stance of cryptocurrency is really a great news, PNB to go digital and planning to venture into blockchain and cryptocurrency is definitely a big step towards digital technology. If this happens, for sure other banks will follow their steps too.

Right.This would be a stepping stone too for other banks to make their own study about bitcoin and hopefully if PNB will adopt bitcoin as a mode of payment,then i'm pretty sure other banks too will soon to make interest in adopting it.This might be not far from possibility since PNB is very famous and a trusted bank for all Filipinos.

[jakagintiri]

Good news for all Filipinos and the others

In my country the Philippines National Bank (PNB) was looking into use of bitcoin,i was wondering if it  can may affect the price of bitcoin?


TOP official of the Philippine National Bank (PNB) vows to study bitcoin amid Bangko Sentral ng Pilipinas (BSP) accepting stance on cryptocurrencies. PNB chair Flor Gozon Tarriela said they are looking at bitcoin and blockchain technology very cautiously but stressed the bank is not into it yet. “PNB will closely study the disruptions going on in the financial sector. We want to know more about the trends. We want to be aware of what is happening. But as to our plans to venture, we are not into it yet,” said Tarriela, adding that they are in the process of studying its dynamics and its possible effects to the banking business. A bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency, as the system works without a central bank or single administrator. While it recognized the potential benefits of virtual currencies as it facilitate the movement of funds at a much faster, cheaper, and convenient way, the BSP is equally cautious of the potential risks including illicit activities such as money laundering and terrorist financing.

It has advised the public that they have to be conscious of the opaqueness of transactions involving bitcoins. To minimize risks, the BSP encouraged existing and prospective virtual currency users to deal only with BSP-registered virtual currency exchanges and maintain only a sufficient amount of virtual currency enough to address transaction requirements. BSP warned that virtual currency users should properly secure their virtual currency holdings and observe security tips to protect the confidentiality and integrity of personal information and transaction details. “The BSP still has to issue regulations on this virtual currencies. But, we, in the banking industry advocate the know-your-customer first,” said Tarriela. PNB’s thrust this year is to go digital. Tarriela said they have launched mobile banking apps to cater to the needs of the tech-savvy market. “The way to go, really, is digital,” she said, adding that this will also help them reach out to the unbanked population.

Source : http://www.sunstar.com.ph/cebu/business/2018/03/09/pnb-looks-use-bitcoin-592675

Wow this news is very positive news, I am very happy to hear it, this is a good starting point for the Philippines where many of its citizens the opportunity to participate in crypto in this area, in this bright spot all countries can take the exact step like the Philippines.

[fiulpro]

Well that's a good news for Bitcoins and your country as a whole ..in my country major banks have blocked the use of Bitcoins .. the credit and debit cards are getting blocked and .. most banks are following this ..

This is getting harder to invest in banks when the money came from Bitcoins.. and they are just closing off the deals.

Good thing  your .. countrie's banks are not banning them without thinking.

[Nylelyn]

This is a great news. PNB have wisely recognized the big potential of bitcoin in the banking industry and that the digital technology and blockchain is the future.  If PNB will spearhead this move,  other banks will sure to adopt the same move. This can be a good way to increase bitcoin demand and in turn will be beneficial for the investors. Hope this study will have a good outcome.  Although this could also have some negative effect but I do hope that it will be for the good of the users and investors.

[zngit]

Stepping stone of bitcoin to bank. How wonderful to know the news about PNB and cryptocurrency partnership. This will have a huge impact to the citizens who are bitcoiners and searching, wishing to have bank open to cryptocurrency. I hope that it will long last and become successful.

[wxa7115]

That's a good example of how banks should embrace cryptocurrency especially bitcoin. If only all the banks have the perspective like these banks in the Philippines, then bitcoin's market value may have already reached so high today.

We cannot expect that to happen, banks only care about one thing their own profits and their own self interests many banks are still refusing to adopt bitcoin since they see it as a threat, however if bitcoin is adopted by more people they will begin to adopt it but banks will always have in the back of their minds a fear for bitcoin because they know they can be replaced by it so I will not be surprised that in the future after some acceptance we are going to see a complete shift in which banks ask governments to ban bitcoin.

[Tigerw]

Stepping stone of bitcoin to bank. How wonderful to know the news about PNB and cryptocurrency partnership. This will have a huge impact to the citizens who are bitcoiners and searching, wishing to have bank open to cryptocurrency. I hope that it will long last and become successful.

many times I heard that users of crypto currency were happy, That the crypto currency gives them the opportunity to earn and not be under control at the same time. Nobody could track their financial flows, and it all boiled down to the anonymity of the user. But to date, the banking system is trying to make the crypto currency controllable and users will lose all their advantages.

[yrrehc16]

This is good news, besides from Security Bank I can also try card less ATM to PNB. Thank you very much for the info big help. Also living in Philippines.

The first bank to adopt the bitcoin with the use of coins.ph app is SECURITY BANK with their cardless withdrawal method (in just minutes)

The first bank who back up an ICO was UNION BANK with loyal coin ( i open an account here after that)

Now that this PNB will do, i am looking forward for more..

BAD SIDE! BDO contacted some of its clients before and force close their accounts who involved with bitcoin.

[Sexie]

Good news, they are looking into use of bitcoin. I know that there are some banks in Philippines that ready to adopt bitcoin and blockchain.
This is one of the bank that will use blockchain to the payment system - https://www.coindesk.com/philippines-banks-use-visas-blockchain-payments-platform/

It was a great. It is good to hear that pnb is interested of studying bitcoin in its usefulness to the banks. It is only the evidence that the world is so aware about bitcoin.  As banks already got interest of knowing about bitcoin ffor  their productivity and how they can help people more  from their development. In addition, big companies are joining in blockchain technology. investors and many people also joining bitcoin projects. With the joining power of bitcoin and the banks may help the economic progress of the community.