PNB looks into use of bitcoin!

[s2sallbygrace]

PNB has no plan yet to venture in cryptocurrency but showing their interest in bitcoin is really a big thing. This only proves that we are already aware on blockchain and cryptocurrency. Although there are still a lot of discussion before they decide to completely  embrace blockchain technology at least they are open for more opportunities. Well, let us just hope for the best.

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[Altero]

PNB has no plan yet to venture in cryptocurrency but showing their interest in bitcoin is really a big thing. This only proves that we are already aware on blockchain and cryptocurrency. Although there are still a lot of discussion before they decide to completely  embrace blockchain technology at least they are open for more opportunities. Well, let us just hope for the best.

Hope the government and the entire community  will support these. Though internet connection is still  unstable and very slow compared to other countries but still we have chances to be on track.  It's gonna be a huge development in terms of technology upgrade and hope it will be on operations within this year.

[decoder88]

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.

I think it is a good news for all of the Filipinos out there, and being one of them it will be a relief that even though we hate fees and all that kind of stuff, there is a bank considering bitcoin that can be a basis to the popularity, to the existence of bitcoin itself. You know even though it is not that kind of legal-legal atleast it is known to many.

[Assface16678]

This means good news for the bitcoin users and enthusiasts in the Philippines. The support they will exert on bitcoin wo
could certainly mean that there is a possibility that bitcoin could thrive in the said country. With this and the support the Central Bank of the Phillipines would give to the cryotocurrency world, bitcoin's success is just getting closer. And I think this is a big step towards the global use of cryptocurrencies.

[NavI_027]

I already heard this rumor before but I'm glad that it really seems legit now

This will not only benefit PNB by means of attracting more future customers but also on behalf of Filipinos who still don't know about cryptocurrency because this will serve as a form of endorsement for them hence I'm pretty sure that btc will become more popular here in our country.

But sad to say, this news doesn't affect me at all since I still don't have a bank account but that's okay, at least now I know what is a much better bank to use in the future. For now, I'm already contented with coins.ph but I'm still looking forward into it.

[marcbitcoins]

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

Beside PNB there are already lot if major banks that already in partner of our local exchange which is already supporting the Bitcoin and also our Central Bank of the Philippines is fully supporting too. With this development i truly realized now that not all banks are against Bitcoin that its mean they have different approach regarding their stand against Bitcoin.

[Scallywag]

it looks like a lot of banks all over the world embrace the blockchain technology. i am just curious in what way they will implement it , they will probably try to remove the decentralization part. because if a blockchain is done right , banks are not needed any more for most things.

[cryptoalfs76]

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,its the greats news that we hear in this  month about the cryptocurrency expedition, this  means that theres possibilty  theres a collaboration or treaty  of there services  between cryptocurrency  and the bank,for the  the economic growth and social responsibilty of our country.actually this is not the first time i heards this kind of news,because lastly i heard some information that there is some aggreement between  central bank and the cryptocurrency,for helping each other to become the bridge of all transaction in cryptocurrency system.

[Getcoinsite]

Thanks for sharing this. I didn't have the idea that bank will look into bitcoin.

This only means that bitcoin is getting serious in their eyes.

Cant wait for them to adopt it.

same here mate,why not local media give a look and feature this once,not those bad issue only,this philippine national bank is one of the oldest bank in the Philippines and i cant wait to see what will be the effect in the country and what will it help to the crypto market.but seriously hope this will be the beginning of world bankers to start considering bitcoin and all cryptocurrency.

[ninio]

thats a nice news for all the filipino here in forum that involved in crypto currency, finally there's a bank accepting bitcoin so it will become easy to cash out our bitcoin into cash by the used of PNB bank.We will not only use coins.ph to store our bitcoin but by the bank it will become more secure.

[Bellator]

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.

That news makes us feel that we are into digital acceptance.Phillippines already adopted the latest innovation of technologies just like adopting those latest digital gadgets.Some more merchants accepts digital currencies here and hopefully it would continue to be spreaded in this entire country.If this mass adoption will become successful and governments would also patronizes bitcoins existence in our country most probably were getting too close to much more progressive country.Assuming that all people would be aware in bitcoins existence and use it in our everyday living surely we all can benefit its usage in makibg transactions simple and easy that can make every Filipinos makes work lighter and with no hassle at all.

[Coffee_Lover]

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 good news! Atleast we can invest in a trusted bank. That is also an edge for the PNB being the first Philippine Bank to offer BTC. I am really happy! Sana talga mangyari. Hindi na ako magdadalawang isip sa pagiinvest and all. Good luck PNB!

[gambitcoin53]

although this is just a plan, i am thrilled how different country accepts bitcoin platforms, slowly adapting bitcoin to its financial aspects. such country is fortunate if their government is open to cryptocurrencies, i hope others will follow. PNB has a big market shares in banking world in that country, i think considering bitcoin by such bank is a great help for bitcoin in terms of gaining consumer trust and confident in entering crypto world.

[dogz12]

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

Banks are jumping into cryptocurrencies because, i think, of fees they can collect out of it. Lesser and lesser people are putting their money into banks and jumping to cryptocurrencies. PNB has remittances from around the world (US, Canada, Japan to name a few) and i think fees is one reason why they are taking into consideration for adopting cryptos.

[Nerman]

Thanks for sharing this. I didn't have the idea that bank will look into bitcoin.

This only means that bitcoin is getting serious in their eyes.

Cant wait for them to adopt it.

same here mate,why not local media give a look and feature this once,not those bad issue only,this philippine national bank is one of the oldest bank in the Philippines and i cant wait to see what will be the effect in the country and what will it help to the crypto market.but seriously hope this will be the beginning of world bankers to start considering bitcoin and all cryptocurrency.

You know why media are just focus on the things that they will improve their ratings. 

For the topic this is an awesome news but I do not think there is a major effect on the Bitcoin price, I think they are more focus on the block chain technology and not Bitcoin as they said  their purpose is to reach an unbanked population then most likely they will create their own coin and try to entice people who do not have bank accounts.

[hermae]

Thanks for sharing this. I didn't have the idea that bank will look into bitcoin.

This only means that bitcoin is getting serious in their eyes.

Cant wait for them to adopt it.

same here mate,why not local media give a look and feature this once,not those bad issue only,this philippine national bank is one of the oldest bank in the Philippines and i cant wait to see what will be the effect in the country and what will it help to the crypto market.but seriously hope this will be the beginning of world bankers to start considering bitcoin and all cryptocurrency.

You know why media are just focus on the things that they will improve their ratings. 

For the topic this is an awesome news but I do not think there is a major effect on the Bitcoin price, I think they are more focus on the block chain technology and not Bitcoin as they said  their purpose is to reach an unbanked population then most likely they will create their own coin and try to entice people who do not have bank accounts.

I like the idea that they are interested in bitcoin. This is a good news for Filipinos who are in bitcoin. Hopefully they will reaĺly do it and the other banks too.

[kyucryp]

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?

I don't think that it will have any significant effects at all. PNB is not that big to drive the price significantly higher.

PNB's main clients are Filipinos, just think about how much Filipinos have bank accounts and what percentage of that number knows about Bitcoin? Bitcoin is not yet widely known in the Philippines so assuming of any significant effect is doubtful.

BTW, thanks for the info.

I agree with you this will not bring significant impact to bitcoin.Filipina is a developing country that is in southeast asia region and has a population of about 100 million.Perhaps of all the amount is only 10% -30% who know about bitcoin.It is not will have an impact on bitcoin movement. But this is good news for the Filipino bitcoiner.

[franciscoDC]

Its good to know that theres a bank that looking to use this bitcoin,i think it can affect the price of bitcoin as long as there are many banks accepted it.many investor should happy for this.

[goldcoinminer]

Good thing for filipinos, this bank who uses bitcoin will surely be more profitable, there are some banks who have not seen
the opportunity yet but bigger banks with smart people running it will be the first to ride with the blockchain technology.
This would help them and they can also attract people who are into crypto to entrust their funds on this certain banks, they know for sure
how big the bitcoin transaction in the Philippines that is why they are taking this step.

[Aztek]

Bitcoin is very influencial and it is very helpful to every company that adopts it. Just think that bitcoin can really help other people ans other big companies. So it is very easy to invest thats why PNB plans tp adopt bitcoin for good. And i think no one from the government warns bitcoin to what will happen if they adopt, because it is really safe and all they need to do is to trust and just have patience in what will happen to the next days.