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Author Topic: Firm aims to introduce bitcoin to PH  (Read 135 times)
heartwreck
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May 04, 2018, 03:59:47 AM
 #21

Hoping that the BSP will accept and regulate bitcoins in the Philippines. Because many of my countrymen also waiting for it and waiting for those machine who can make the bitcoins into money or has merchants that we can use bitcoins as payments.
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May 04, 2018, 04:00:19 AM
 #22

i hope they will stick to their plan or they are transparent on their agenda that is focusing on financial services like protection of consumers on remittance and even financial stability of its people, also protection against anti money launderers and will not try to manipulate the circulation of peer to peer and the anonymity of users. if yes, this will certainly add up to the ever developing opportunity we can get from bitcoin.

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May 04, 2018, 06:04:55 AM
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Good for the Filipinos if this happened and approved  immediately and their proposal are very convincing and it would help a lot of people when it comes to remittances and payment systems.

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May 04, 2018, 07:57:08 AM
 #24

Thats a good move here in the Philippines,more and more people here are became aware what a crypto currencies is,specially with the bitcoin,Im looking forward with their initiatives and development that can bring each filipino to adapt the future of digital transaction

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May 04, 2018, 08:17:22 AM
 #25



The desire of the company is understandable, but what was the government's reaction to this proposal of this company?

... The company, however, is still waiting for their Securities and Exchange Commission (SEC) papers and license from the Bangko Sentral ng Pilipinas (BSP). ...

I'm not sure that they will be able to so easily obtain these permits.
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May 04, 2018, 08:20:34 AM
 #26

Hello Guys! Firms is going to introduce Bitcoin on our country and It will helps to improve Bitcoin users and holders.

A JAPANESE investor has partnered with a Filipino capitalist to form a company that will introduce bitcoin to Filipinos. Takanori Okuno and Emmanuel Roa Duterte formed Japhil Global Coins Corp. (J-PGC) and will set up headquarters in Cebu. J-PGC president Duterte said they aim to introduce the virtual currency to Filipinos so they can take advantage of its uses such as in remitting money, investment and cashless payment. The company, however, is still waiting for their Securities and Exchange Commission (SEC) papers and license from the Bangko Sentral ng Pilipinas (BSP). According to BSP, a virtual currency (VC) refers to a type of digital unit that is used as a medium of exchange or a form of digitally stored value created by agreement within the community of VC users.It also issued Circular 944, which required the VC providers to be under their watch. It recognizes that VC systems have the potential to revolutionize delivery of financial services, particularly for payments and remittance, in view of their ability to provide faster and more economical transfer of funds, both domestic and international, and may further support financial inclusion.

The BSP also said it does not intend to support any VC, such as bitcoin, as a currency since it is neither issued nor guaranteed by BSP nor backed by any commodity. Rather, it said, it aims to regulate VCs when used for delivery of financial services, particularly for payments and remittances, which have material impact on anti-money laundering operations and combating the financing of terrorism, as well as ensuring consumer protection and financial stability. People can buy and sell bitcoins by tapping dealers or brokers or going to bitcoin exchanges. Takanori said they see the Philippines as an ideal market for bitcoin because of its growing population, technologically-savvy citizens, huge remittances market and high population without access to bank services. “We chose the Philippines as our center of business following the long-term good relationship between our countries. The Philippine economy is also growing quickly,” said Takanori, adding that they will focus on helping low-income Filipinos participate in bitcoin exchanges. “We are looking forward to more collaborations here in the Philippines,” said Takanori, the director of J-PGC. The Japanese investor also assured Filipinos that bitcoin transactions are protected by blockchain technology. The company also has a strong connection, with 19 countries around the world. Monthly transactions in the Philippines involving mostly bitcoin averaged $8.8 million in the first half of 2017, from only $2 million in 2015 and about $6 million in 2016, data from the BSP showed. Takanori added that the bitcoin exchange is just the initial entry of the company, as it plans to establish more services under the virtual currency exchange, along with other big-ticket corporate social responsibility programs. (KOC)

Source: www.sunstar.com.ph/cebu/business/2018/01/12/firm-aims-introduce-bitcoin-ph-583645



Before Bitcoin come up and being well known in Philippine Country, many Filipino's  are aware to use digital money transfer in different ways such as; kwarta padala, cebuana lulleir, smart padala, G-Cash, money transfer and etc.  Refer to that, bitcoin is additional improvement for all Filipino people for progressive economy. for that Partnership between the Philippines and Japanese investor for the development of Philippine economy are really appreciated if all of these are benefited to  Filipino People.

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May 04, 2018, 04:42:29 PM
 #27

That is really a good news. Introducing bitcoin to Filipinos will remove the bad stigma that tainted bitcoin's name as it is often used in scam projects and acts in the Philippines. Also, this way, more people will be inclined in researching about the advantages of bitcoin rather than focusing on criminal acts associated with it. This will also attract more Filipino who had been wanting to invest in bitcoin but had been having second doubt. Good news, indeed.

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May 07, 2018, 11:18:08 AM
 #28

For this day not really much people are involved in cryptoworld and blockchain-interested things. Not all of those who are involved - know how to use it properly.. so it's really hard to predict.

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