PHILIPPINES: UNIONBANK MINES BITCOIN IN CONFERENCE ‘EXPERIMENT’

[CottonGuy]

The seventh-largest bank in the Philippines by assets ran Bitcoin miners at a conference this week, signaling bullish sentiment from the local finance industry.

PHILIPPINES BANK ‘EXPLORING HOW BITCOIN WORKS’ THROUGH MINING

Images uploaded to social media from the BusinessWorld Economic Forum 2018 by Satoshi Citadel Industries cofounder Miguel Cuneta show UnionBank CEO Edwin Bautista running four GPU miners at the bank’s booth.

According to Cuneta, who was also present at the conference, UnionBank set up a “small mining rig to experiment and explore how it works.”

“They want to learn more and best way is (through) experience,” he wrote in comments.

Bautista himself delivered a presentation on Bitcoin and Blockchain, during which he told audience members about the mining-focused “Bitcoin experiments” by the bank.

FIRST BLOCKCHAIN, NOW CRYPTO FOR UNIONBANK
Mining Bitcoin marks the latest move in UnionBank’s digital “pivot” it originally announced earlier this year.

Originally targeting Blockchain, Bautista oversaw the development of the Philippines’ first Blockchain-based payment system for businesses called Visa B2B Connect from January onwards.

At the time, the CEO appeared considerably more optimistic about Blockchain than  cryptocurrency itself, suggesting the latter’s reputation negatively influenced perceptions about the technology.

“The blockchain technology is one of those technologies that are predicted to really alter the face of banking,” he told local news outlet ABS CBN.

A lot of people will still associate blockchain with bitcoin, and because of that you have that negative impression of blockchain, but they are two different things. One is just simply riding on the other.

Now, it appears, Bautista’s position has softened, bringing UnionBank beyond the level of participation of the majority of legacy financial institutions, which have stuck rigidly to Blockchain evangelism.

The major exception to date has been Switzerland, where banks have actively offered Bitcoin-based products since 2016 in what has become a highly-supportive environment for cryptocurrency usage.

source: http://bitcoinist.com/philippines-unionbank-mines-bitcoin/

Ano sa tingin nyo ang maidudulot nito sa ating bansa at sa pagpapalaganap ng popularidad ng Bitcoin at Blockchain?

Para sa kin magandang balita ito dahil mismo ang Union bank ay nagmimina so posible na sa darating na panahon pdi na tayong bumili ng BTC o ibang crypto deretso sa Union Bank na mas mura at hindi maxado ang patong kagaya ng sa coins.ph..

Ano sa tingin nyo po? may magandang maidudulot ba to sa ating bansa? o puro batikos nalang ba para sa mga utak ng mga negatibong tao tungkol sa BTC?

[npredtorch]

I think yung ginawang pag mamine sa conference ay isang public stunt or demonstration which means "Unionbank is into crypto", hindi ibig sabihin nun na mag i start din sila mag mine (opinyon ko lang).
May magandang maidudulot? For sure meron dahil ano ba ang unionbank? Isang bangko. Bangko na ayon sa iba ay kalaban ng crypto - kaya may mga topic dito sa bctalk na BitcoinVsBank.

[JanpriX]

Nakita ko ito sa Twitter kung saan nag-tweet si Cuneta about sa article na ito. Actually, natuwa ako nung nakita ko yung Tweet niya, though medyo misleading kasi tingin ko eh hindi sila mismong "nagmimina" dun sa conference na yun, pero na-gets ko naman na gusto lang nilang ipakita yun para makuha yung attention ng mga tao at magbigay ng scenario na related sa kung anong nangyayari ngayon sa cryptosphere.

Para sa akin, isa ito sa magandang nangyari dito sa Pinas na related sa Crypto. Kung hindi ako nagkakamali, sila lang yung bank na pro-crypto dito sa Pinas at maganda yung ipinakita nila ito sa conference na yun. Sana lang eh maging pursigido pa sila na ipalaganap yung tamang kaalaman about BTC para matulungan yung mga kababayan natin na mag-invest dito ng tama.

[eipeng]

Mukang may niluluto, abangan natin yan kung ano ang sunod

[zenrol28]

Front lang yan, para mapunta sa kanila atensyon ng mga tao. Kung dito sila pupunta malamang mas marami pa matutunan nila. Media exposure lang yan. Pwede rin naman sila mag run nodes, o kaya yung bitcoin core. Ano ba matututunan nila sa mining? Hashrate? Is that how bitcoin works? Business men are business men talaga. Laging business as usual, they don't care what kind is it as long as it is profitable.

[CottonGuy]

I think yung ginawang pag mamine sa conference ay isang public stunt or demonstration which means "Unionbank is into crypto", hindi ibig sabihin nun na mag i start din sila mag mine (opinyon ko lang).
May magandang maidudulot? For sure meron dahil ano ba ang unionbank? Isang bangko. Bangko na ayon sa iba ay kalaban ng crypto - kaya may mga topic dito sa bctalk na BitcoinVsBank.

Publicity stunt lang pala yun. Akala ko kasi nag invest talaga sila ng mga mining rigs para mismo sila ung makakuha ng BTC. Sa daming mga pinoy na nag cryrypto ngaun malamang gusto ng Union Bank na don tayo bumili o magbenta ng ating mga minimina o mga nakukuhang bitcoin. Tiyak malaki ang kikitain nila sa dagdag porsyento na ipapatong kumbaga.

[najmul33]

May magandang maidudulot ba Ito sa ating bansa?well on my opinion it's possible na may magandang kahihinatnan ito sa ating bansa mas Lalo pang tatangkilikin Ito Ng mga kababayan natin Ang Bitcoin o anumang crypto Ang darating say bansa natin..sa tingin ko Isa na itong pangitain na marami pang mga banko Ang gagaya nito.

[Kambal2000]

They are starting to see it nakakatuwa talaga pero sana lang talaga maraming mahikayat pa sila at sana huwag nilang pahirapan ang mga tao lalo na sa pagpapataw ng tax dito, gusto ko din naman maging partner ang mga banko sa mundo ng crypto wag lang sana nila to ittake for granted lalo na ng gobyerno.

[babyshaun]

Bagong hakbang ba ito ng bangko upang mas makilala nila ng lubusan ang cryptocurrency pero maganda ang kanilang layunin dito maraming maaakit sa unionbank lalo na ang mga crypto user na mas mainam din gamitin ang union bank kesa sa ibang bank. Kasi ang unionbank ay nagpapahiwatig na sila na suporta talaga nila ang crypto currency at mas inam gamitin na rin natin ang serbisyo ng union bank.

Abangan natib ito ang susunod nilang hakbang..

[Edraket31]

Maganda sana kung magtuloy tuloy na to kaya tulungan na lang natin ang mga banko na mag encourage ng mga tao kasi kapag nakikita naman nila na lumaki ang demand for sure naman ay tuluyan na nilang idadagdag ang transactions sa mga banko. 

[VitKoyn]

Tingin ko sinubukan lang naman nila mag mine ng Bitcoin pero wala talaga silang balak na gawin ito para gumaya sa iba na nakakakuha ng malaking profit sa pagmimina ng Bitcoin. At hindi pa klaro kung ano ba talaga ang gustong mangyari ng unionbank dito kasi wala pa naman silang ginagawang announcement kung may balak silang maiinvolved sa cryptocurrency which is hindi malayong mangyari kasi may mga bangko na sa ibang bansa na nag ooffer ng service na related sa cryptocurrency or kung gusto lang nila mag experiment kung paano mapapaganda ng blockchain technology ang banking system nila.

[Aying]

tingin ko sinusubukan nila kung papaano makakatulong ang blockchain sa pagpapabilis ng online transaction nila, kumbaga sumasabay na rin sila sa pagbabago na pwedeng gawin ng crypto currency sa mundo

[micko09]

demonstration siguro lang yan kasi ang Unionbank is into crypto na, sa tingin ko maganda ang magiging epekto nito lalong lalo na sa mga nag bibitcoin sa bansa natin, hopefully mag full operated na ang unionbank at magkaroon pa ng maraming features with bitcoin

[joshb028]

I think isa itong magandang balita kasi mapapadali na transactions natin sa bangko regarding bitcoins. At siguro hakbang din ito para mapakilala talaga sa karamihan ang about sa bitcoins. Sana magtuloy tuloy ito

[Nolivelasco13]

Napagandang Balita Ito Kasi Dito Tayo Nag wiwithdraw ng pera at kasama ang btc.sana tuloy tuloy na ang plano na yan

[burner2014]

Nakakamangha naman na isang step na naman ang ngyari sa bansa natin para makilala at maging legal ang bitcoin sa bansa natin, sana magtuloy tuloy, good thing Nakita to nga mga banko, it can add profit na din to sa kanila If ever.

[altcoinMyr]

Unionbank also sees the benefits and support of Blockchain Technology in their banking system so it is the beginning that other banks will also have interest on it.

[joshb028]

Its a good news that banks already see the benefits of bitcoins and they are already aknoledging it. This is a good sign that bitcoin will be totally known by the Filipinos.

[ChardsElican28]

The seventh-largest bank in the Philippines by assets ran Bitcoin miners at a conference this week, signaling bullish sentiment from the local finance industry.

PHILIPPINES BANK ‘EXPLORING HOW BITCOIN WORKS’ THROUGH MINING

Images uploaded to social media from the BusinessWorld Economic Forum 2018 by Satoshi Citadel Industries cofounder Miguel Cuneta show UnionBank CEO Edwin Bautista running four GPU miners at the bank’s booth.

According to Cuneta, who was also present at the conference, UnionBank set up a “small mining rig to experiment and explore how it works.”

“They want to learn more and best way is (through) experience,” he wrote in comments.

Bautista himself delivered a presentation on Bitcoin and Blockchain, during which he told audience members about the mining-focused “Bitcoin experiments” by the bank.

FIRST BLOCKCHAIN, NOW CRYPTO FOR UNIONBANK
Mining Bitcoin marks the latest move in UnionBank’s digital “pivot” it originally announced earlier this year.

Originally targeting Blockchain, Bautista oversaw the development of the Philippines’ first Blockchain-based payment system for businesses called Visa B2B Connect from January onwards.

At the time, the CEO appeared considerably more optimistic about Blockchain than  cryptocurrency itself, suggesting the latter’s reputation negatively influenced perceptions about the technology.

“The blockchain technology is one of those technologies that are predicted to really alter the face of banking,” he told local news outlet ABS CBN.

A lot of people will still associate blockchain with bitcoin, and because of that you have that negative impression of blockchain, but they are two different things. One is just simply riding on the other.

Now, it appears, Bautista’s position has softened, bringing UnionBank beyond the level of participation of the majority of legacy financial institutions, which have stuck rigidly to Blockchain evangelism.

The major exception to date has been Switzerland, where banks have actively offered Bitcoin-based products since 2016 in what has become a highly-supportive environment for cryptocurrency usage.

source: http://bitcoinist.com/philippines-unionbank-mines-bitcoin/

Ano sa tingin nyo ang maidudulot nito sa ating bansa at sa pagpapalaganap ng popularidad ng Bitcoin at Blockchain?

Para sa kin magandang balita ito dahil mismo ang Union bank ay nagmimina so posible na sa darating na panahon pdi na tayong bumili ng BTC o ibang crypto deretso sa Union Bank na mas mura at hindi maxado ang patong kagaya ng sa coins.ph..

Ano sa tingin nyo po? may magandang maidudulot ba to sa ating bansa? o puro batikos nalang ba para sa mga utak ng mga negatibong tao tungkol sa BTC?

Kapatid isang hakbang na naman ito para pag, aralan nila ang mundo nang bitcoin kong anu ang maitutulong sa bansa natin. kaya pinapasok paun-unti ang ralagan nang crypto. Dahil dito alam ko paunti-unti maliliwanagan ang ibang bangko kong gaano kaganda ang mundo nang crypto at makakatulong ito sa ating bansa salamat godnless.......

[nappoleon]

Until they stop using the word "blockchain" and start using the word "bitcoin" instead. I don't buy it. I don't think they will give out their power easily, I think they're trying to be relevant as banking becomes less relevant.