PNB looks into use of bitcoin!

[jtipt]

While the idea is a head-turner, we all know that these banks would just focus on studying the blockchain tech more closely than bitcoin.

Yeah. Based on all the recent news banks are showing their interest in blockchain but none of the banks are ever going to use or support Bitcoin, I mean of course why would they support their competitor let alone use it.

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[jonas5222000]

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/

Yes this is a good news with 2 million filipinos who are active in bitcoin this is a breakthrough. Its nice to know that government are supporting to make filipinos getting rich. PNB is one if the largest government owned bank in the country.

I think it could give to our fellow filipinino an oppurtunity to know more about crypto,because in this job we can earn money with 2x or 3x than usual job.

[npredtorch]

While the idea is a head-turner, we all know that these banks would just focus on studying the blockchain tech more closely than bitcoin.

Yeah. Based on all the recent news banks are showing their interest in blockchain but none of the banks are ever going to use or support Bitcoin, I mean of course why would they support their competitor let alone use it.

What does support means to you? At least they tried to study it and there could be chances for adaptation (better than nothing). Also, there's no bad effect or whatsoever with news like this, let it flow.
I'm interested with this than news with a subject "X (Name of Country) talks about banning Cryptocurrency".

[Ramtapsbtc]

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

I don't believe that this news has integrity in it because at the end only the government had the final say on this. Philippines has not ban or regulate cryptocurrency, they only warn us to be mindful of our investment in bitcoin because of the risk behind it. But i do hope that in the near future, cryptocurrency will be widely accepted or adapted nationwide.

[ityandsyn]

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/

Yes this is a good news with 2 million filipinos who are active in bitcoin this is a breakthrough. Its nice to know that government are supporting to make filipinos getting rich. PNB is one if the largest government owned bank in the country.

   I think that they will do the same with the U S that bitcoin will accepted as payments for their tax, and by these means, more filipino will getting involved in bitcoin.
   And we were hoping for the better development of this studies by the PNB.

[FrueGreads]

Hopefully this will be the trend all over the world. I actually thought that Philippines had "banned" or "blocked" bitcoin, so these news would be even greater if that was true, because it would mean that they would have changed their minds about bitcoin and crypto. Even if this wasn't a change from a previous decision is still great news for crypto, as the more acceptance it gets the better.

[jonas5222000]

Hopefully this will be the trend all over the world. I actually thought that Philippines had "banned" or "blocked" bitcoin, so these news would be even greater if that was true, because it would mean that they would have changed their minds about bitcoin and crypto. Even if this wasn't a change from a previous decision is still great news for crypto, as the more acceptance it gets the better.

Banned? i think this is not happened, they are not banning it,besides they are promoting it and now philippines national bank was looking into use of bitcoin,so its good to hear that my country was
Being improvie by using blockchain.

[lvincent]

From ph here Well that is a really good news all of us know that PNB is one of the biggest bank here in our country and if they're accepting bitcoin i think it will have a great effect in bitcoins price although of course this type of things will not gonna happen sooner there's still a lot of arguments there.

[Beymax08]

Im very happy to hear that and it is a good news here the Philippines. Now it is starting to step to the next level at this point it is possible for embracing and adopting bitcoin for the future.

[Pain Packer]

Am I the only one the is getting afraid? More banks are getting involved with cryptocurrencies and sooner or later, they demand regularization of cryptos which is a bad thing.

[princesspoppy]

Its good that our country is acknowledging bitcoin and banks are open minded to deal with cryptos. This only means that it is safe to invest in cryptos but there are also chances that banks can now hold bitcoin and transact with it. It means that there are chances that they put regulations and limitation on using bitcoins and  that is not good  if it ever happens.

[jtipt]

What does support means to you?

By support I mean stop the backlash against BTC, maybe start using it, don't stop people from BTC(some banks are doing this apparently)..

Also, there's no bad effect or whatsoever with news like this, let it flow.
I'm interested with this than news with a subject "X (Name of Country) talks about banning Cryptocurrency".

Yeah, I  not saying this news is bad, it's definitely good but it can be better. But yes I'll also take this news over another "ban of bitcoin" news.

[jamids]

Good news indeed! While banks in other countries are against the idea of cryptocurrencies, some banks in the Philippines are welcoming it. Knowing that BSP has yet to regulate it but already give license to some platforms to operate makes it more convenient for the people to cash in and out with fiat. I hope that this move of PNB would make other banks think of looking into bitcoin as well and not just outright close the account of someone who is involve in cryptocurrency trading because I read that there are issues with other banks closing accounts without proper explanation why they close the account.

[PDNade]

Hopefully this will be the trend all over the world. I actually thought that Philippines had "banned" or "blocked" bitcoin, so these news would be even greater if that was true, because it would mean that they would have changed their minds about bitcoin and crypto. Even if this wasn't a change from a previous decision is still great news for crypto, as the more acceptance it gets the better.

Banned? i think this is not happened, they are not banning it,besides they are promoting it and now philippines national bank was looking into use of bitcoin,so its good to hear that my country was
Being improvie by using blockchain.

Hello good day ! As you may know if bitcoin will be popular hmmm I would say in 2019 many filipinos will going to adopt this and government will into this blockchain purpose and it may affect us who are long and veterans in this forum. Many circumtances will be emerging and it will be output to problems. But we can't stopped this who are willing to earn as much as they want.

[jonas5222000]

Its good that our country is acknowledging bitcoin and banks are open minded to deal with cryptos. This only means that it is safe to invest in cryptos but there are also chances that banks can now hold bitcoin and transact with it. It means that there are chances that they put regulations and limitation on using bitcoins and  that is not good  if it ever happens.

But not all is safe to invest or sure that our invesment will be doubled, i think we need to take a time to make a research about the ICO's or the project that we choose to invest.

[Kim Ji Won]

Seeing the stand of our banking institution on Bitcoin, it would seem that we should be expecting a fair and just regulation about the usage of cryptocurrencies in our country. This would be without a doubt, help spread awareness about crypto to my fellow countrymen thus resulting to affect the price of Bitcoin in a way.

[Hopeful2017]

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

In you country, bitcoin is already accepted as an investment opportunity. Its is advantageous in your part because you can encash bitcoin in the bank and able to withdraw bitcoin anytime you want. If that will continue, your government will soo develop an app that could store bitcoin directly.

[Coleth]

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 bicoin?

Well, thats good news for all Filipinos if PNB accepts bitcoin then most likely other banks in the Philippines will come next. So it would be easier to transact using blockchain. And the good thing here is if bitcoin will come in to the banks then it will be possible for other cryptocurrencies to enter into banks especially when they find bitcoin as beneficial to their company.

[Ondre]

Thats great news, and before we know it all banks will adopt bitcoin specially when they will observe PNB bank  succeeding through bitcoin. So, i hope PNB should pursue bitcoin transactions as soon as possible.

[CryptoBry]

Hope something good will come out of this curiosity from one of the biggest universal banks in the Philippines. However, I doubt if it will have a direct influence on the price or value of Bitcoin as the Philippines has not yet reached a major Bitcoin country status. Having said that, if in case the bank is thinking of venturing into Bitcoin then this can be a big and welcomed news for all Filipinos. Let's see what can come out of this inquiry from PNB.