PNB looks into use of bitcoin!

[bettercrypto]

Really? This is an awesome news for Filipinos. I am not updated regarding with this issue but what I know is that, PNB updated the cards because my mother update the ATM card of my father last week. I just don't know if it is applicable to all because we are using PNB bank for the insurance of my father. Well, it is good to know if ever they accept bitcoin. As of now, I can see the development of cryptocurrency in Philippines. Good to see this thing.

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[ladydark]

That's really a good news.But still banks would focus more on using blockchain technology.A lso since it being a smaller bank,its impact over bitcoin would also be smaller.

[InKiTy38]

In the world, the PBN system has been used for a long time, the way of development and exploitation is quite effective and also risky if there is no strategy for development and exploitation of safety. This is the only system available for those who do SEO services or services because of its high cost

[ngano ba]

If this would really push through then it is another leap for bitcoin, if the PNB will considered accepting any bitcoin transactions ,it is not far from reality because some of the banks are now slowly go into cryptocurrency and bitcoin collaboration.

[ChaChaiTL]

Are big business owners, have money and are ready to invest
Abundant human resources can be used to build and develop a PBN system
Those who have overall thinking about SEO and especially have a long-term vision to grow the business. are the objects that should use them

[gambitcoin53]

isn't it a little bit late for that bank, i mean most users or individuals have studied about bitcoin long ago and how it works, you mean to say they are studying bitcoin for their own benefit,  banks are already alarmed and know the effects of bitcoin in their business, what they are studying right now is how will be beneficial to them, they will not try to accept bitcoin, maybe they will adopt bitcoin system for them to copy it, and will create their own coins. though this kind of news really adds up to the popularity of bitcoin.

[cheann20]

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

Thats a very good news.  I hope it will increase the price of bitcoin. Im from Philippines so that is good to hear,aybe someday all Filipino in our country will accept and learn about crypto,  so maybe someday our country will good in crypto currency..

[matchi2011]

isn't it a little bit late for that bank, i mean most users or individuals have studied about bitcoin long ago and how it works, you mean to say they are studying bitcoin for their own benefit,  banks are already alarmed and know the effects of bitcoin in their business, what they are studying right now is how will be beneficial to them, they will not try to accept bitcoin, maybe they will adopt bitcoin system for them to copy it, and will create their own coins. though this kind of news really adds up to the popularity of bitcoin.

In some ways  it will reflect to bitcoin users from specific country, the news will boost the popularity and will create positive impressions, as they will see that banks are working and studying about bitcoin and if this bank will allow or will adopt the chain then it will bring more investors interest to this currency investment.

[Dondon1234]

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

Thats a good idea in Philippine national bank. Becuase bitcoin is the number one most valuable token in the whole worl.  So its nice to use bitcoin in PNB.  becuase more people wants to make an bank account becuase it is easy if they use bitcoin.. Its fast transaction and more secured than others.

[bololord]

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.

Well it is a big steps and it is the start to adopt bitcoin in the counrty ,it is a great new for every one and for sure the other bank will follow this because there are more investors will become interested to invest in bitcoin.

[serjent05]

As of the current event, it seems even with this news, there is not much effect on the price of Bitcoin.  This was just all plan but in reality the Philippine government and media are keep on relaying wrong image about bitcoin.  They often give a misleading presentation/news about Bitcoin with emphasis of scams and money laundering, without reporting the true nature of Bitcoin.  And not relaying the kind of news like this that will give a positive outlook of Bitcoin.   So, I can say there is not much of effect if the media and popular tv stations will not announce the good news to the public.

[semobo]

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.

Well it is a big steps and it is the start to adopt bitcoin in the counrty ,it is a great new for every one and for sure the other bank will follow this because there are more investors will become interested to invest in bitcoin.

I don't think more banks will follow their decision because basically crypto currencies were totally against the banking system so they will never help and kffer services related to their enemy and even that news didnt bring any effect in the crypto market because most people still think crypto as investment not as money.

[btc_angela]

As of the current event, it seems even with this news, there is not much effect on the price of Bitcoin.  This was just all plan but in reality the Philippine government and media are keep on relaying wrong image about bitcoin.  They often give a misleading presentation/news about Bitcoin with emphasis of scams and money laundering, without reporting the true nature of Bitcoin.  And not relaying the kind of news like this that will give a positive outlook of Bitcoin.   So, I can say there is not much of effect if the media and popular tv stations will not announce the good news to the public.

Its media, what can you expect? They almost made bitcoin look like its a scam and a bad investment so that anyone reading will have second doubts investing on them. But if this is true, then Filipino bitcoin community should be glad because their government is very crypto friendly unlike other nations who simply sees bitcoin as a threat. I do hope though that it will bring more bitcoin users from the Philippines so that the growth will be sustainable. If anyone is thinking to get it, then this is the best time because the price is just around $6K.

[realaccountakira]

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?

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

This is extremely good news. If the Philippine government is willing to accept bitcoin and cryptocurrency, then it should mean that we really are indeed getting somewhere. Evenutally this type of confidence will inspire local entrepreneurs to similarly take on the advantages of using bitcoin and cryptocurrencies to further enhance existing business models.

This is good for us because then eventually the world will accept bitcoin on a global scale and the value of our coins will follow sharply.

[lienfaye]

This is a good news for filipinos to be aware in bitcoin existence and other cryptocurrencies however it seems there's no progress yet after they announce this statement and I think it will take a long time before we can see the result of their plan.

As of the current event, it seems even with this news, there is not much effect on the price of Bitcoin.  This was just all plan but in reality the Philippine government and media are keep on relaying wrong image about bitcoin.  They often give a misleading presentation/news about Bitcoin with emphasis of scams and money laundering, without reporting the true nature of Bitcoin.  And not relaying the kind of news like this that will give a positive outlook of Bitcoin.   So, I can say there is not much of effect if the media and popular tv stations will not announce the good news to the public.

Yes and there's no news on tv regarding PNB's stance in cryptocurrency, they keep reporting the bad side when you involve yourselves in crypto particularly in bitcoin due to its nature as a decentralised and cant be control by the government.

[Johnzky]

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.

But now it looks like nearly to generally legalize in philippines,as of now many of stote branches in the philippines was accepting bitcoin,and  you can pay to them by using bitcoin.

You can pay them with bitcoin but it has to be converted first with bitcoin. I haven't see any announcement from any bank that they are fully accepting bitcoin. What you mean is you can pay with bitcoin with the use of an exchange because they will convert it into fiat. It's obvious that bitcoin is legal in the country, the central bank is not endorsing it but they have set regulations about it that they are good with it. Further, directives and announcement from banks and establishments shall come soon.

Yups the coin must be converted first before the banks accepting this so theres no exact key that bitcoin was accepted ,maybe we need to wait from PnB before they finalized and adopt bitcoin as primary crypto coins to be transacted from banks and i hope its not only the technology or the block chain is what they want to study and not the currency itself

[Coinsher]

If PNB engaged with bitcoin, probably the demand will be high and it will bring more opportunities for all crypto enthusiast. And it will also make the price in crypto market to become stabilize. Hopefully, it will be happening this year so that the price will increased again.

[btc78]

If PNB engaged with bitcoin, probably the demand will be high and it will bring more opportunities for all crypto enthusiast. And it will also make the price in crypto market to become stabilize. Hopefully, it will be happening this year so that the price will increased again.

were talking about Philippines only and not the whole world so dont expect big changes as if this represents the  community.this will only favor Filipinos and a little part of market

But i love the concept if this really be transparent and not underground project of the banks just to adapt the blockchain without any concern on bitcoin or other cryptocurrency because i know that ripple is the banking crypto

[uozer]

This is just the type of good news we are envisaging to always come around for Bitcoin, as this will rigorously boost all investors morale since it is already going viral that Bitcoin is a very qualitative virtual digital currency on line pro actively efficient as Exchange of goods and services medium on the basis of it's anonymity , deregulation, decentralization and security wise trusted.
As the Top officials of PNB headed by Flor Gozon Tarriela in collaboration BSP who had accepted Bitcoin and are planning to study all its Fundamentals, which even however planned to install various Bitcoin ATM in Strategic localities of Philippine and more, the greater success to live with Bitcoin does no longer comes with any Dismay, ie. is never to be under estimated or is non an understatement.

[gowobonyok]

good news, but I do not think that's enough to make the price go up again. bitcoin covers the whole world, and prices will cover all bitcoin activity around the world.