One of the Largest Banks in the Philippines is Implementing Ethereum.

[Luigieee]

Gusto ko sanang i update kayo dito,na ang isa sa pinakamalaking banko dito ay ipinapatupad na ang paggamit ng ethereum.
Sa tingin nyo ba makakaapekto ito sa presyo ng ethereum?


UnionBank, one of the biggest banks in the Philippines, is working with US-based blockchain software technology company ConsenSys founded by Ethereum co-founder Joseph Lubin to assist local financial institutions in integrating Ethereum and blockchain-based platforms.

Remittance-Focused Industry
The Philippines has a unique financial infrastructure, and the banks are aware that only the upper class and high net-worth individuals can afford banking services. The vast majority of individuals and even businesses rely on local remittance networks and outlets such as M Lhuillier, Cebuana Lhuillier, Palawan, and LBO to send and receive payments both domestically and internationally.

Remittance outlets are often more readily accessible in rural areas and provinces, especially in areas that are not profitable for banks to establish offices and run all-inclusive operations. In major cities like Cebu, remittance outlets are seen in every corner of every street, sometimes 10 meters apart from each other.

The main reason behind the difficulty of acquiring bank accounts and services in the Philippines is the base balance required by financial institutions. UnionBank, for instance, requires users to store more than $2,000 as default balance, and the failure to maintain a balance of over $2,000 could result in penalties.
In a heavily Remittance-focused country like the Philippines, any technology that could provide transparency, security, robustness, and efficiency in processing transactions is crucial. ConsenSys and UnionBank believe that the blockchain could be the technology that might be able to drastically improve the current financial infrastructure and ecosystem of the Philippines.

Justo Ortiz, the chairman of UnionBank, stated that the blockchain could “crack the hole of financial inclusivity,” if implemented and commercialized appropriately.

In the upcoming months, ConsenSys and UnionBank will closely collaborate to utilize Kaleido, an enterprise blockchain solution launched on top of the Ethereum blockchain protocol, to process information and transactions more securely and transparently.

Alai Garcia, ConsenSys Solutions Lead in Asia Pacific, said that UnionBank is their first bank client in the Philippines and that the country could be one of the few regions in the world that could maximize the benefits of using the blockchain as both public and private sectors are keen on applying blockchain technology to existing systems.

“Our appetite for experimentation is warming the country up for significant transformational change for the next generations to come,” said Garcia.

source:https://www.newsbtc.com/2018/05/27/one-largest-banks-philippines-implementing-ethereum-consensys/

[Insanerman]

Sa tingin ko makaaapekto ito sa price ng ETH, kasi mag gain siya ng exposure sa market dahil ginagamit na ito for bamking services, maaware yung mga tao na legit pala talaga ang cryptocurrency, siguro parang coins.ph yung sistema nito which can add as another option for peoples who uses banking services.

[Duelyst]

Kung totoo yan, at pumasok na ang peso sa ETH, aba, ang tanong eh, ADVATANGE ba yan sa ETH na hawak natin?  Mukhang babagsak pa ang ETH value pag nagkataon kasi. Dahil sa ETH to USD pa lang, mababa na palitan kaya mas okay pa ang ETH to BTC.

Ano pa kaya kung ETH to PESO na?  At pag bumagsak naman ang Peso dahil sa ETH, baka maghigpit ang BSP sa crypto ngayon.  Sigh.

[makolz26]

Grabe kaya talagang need na natin mag ipon din ng Eth, sobrang ganda ng ngyayari sa bansa natin ngayon, dami na positive news na nababalita talagang dapat hindi na natin to itake for granted at kailangan na din po nating makipagsabayan dito, kaialngan meron tayong enough fund para sa future din natin.

[okakaynam]

Its a good news magandang balita yan para satin na crypto users dito sa pilipinas. Malaki ang magiging apekto nyan sa pagbago ng price ni ethereum kung gagamitin talaga ng bangko ang ethereum lalaki ang demand ng supply ng ethereum at tataas ang value nito like bitcoin. Abangan nalang natin ang magiging resulta neto if ever mangyare na.

[Mae2000]

Union Bank is the largest bank in Philippines that implement Ethereum with ConsenSys.
And the Co-Founder Joseph Lubin's blockchain software technology company,
ConsenSys, to assist local financial institutions in integrating Ethereum and  blockchain-based platforms into their system.
Banks are aware of the unique financial infrastructure of the Philippines -  only the upper class and high net-worth individuals can afford banking services in the country, with the vast majority of individuals and businesses relying on local remittance network such as Palawan Express, Cebuana Lhuillier, M Lhuillier, and the like to send and receive international and domestic payments.

[macchiato]

Hindi ako sigurado kung magiging maganda ang epekto nito sa ETH. Maaaring makabuti ito dahil mas magiging sikat ito at tataas ang demand. Kaso nga lang, hindi tayo makakasiguro na ang palitan ng ETH to Peso ay magiging mataas. Sana, oo. Maganda din na nag-aadapt na yung Pinas sa modernisasyon. Marami na kasing bansa ang kinoconsider ang paggamit ng crypto. Sa atin kasi hindi pa malawakan pero alam ko mayroon na ding ibang shop na tumatanggap nito. May nakita nga ako sa isang mall na jewelry shop na natanggap ng crypto eh.

[micko09]

maaaring maganda ang maging impact nito sa ETH dahil baka tumaas ang demand nito dahil sa mga remitances na isasagawa dito sa pinas through other country, kaso hindi natin alam kung magiging maganda ba to sa peso. alam naman natin na magalaw ang presyo ng cryptocurrency.

[ronics]

Talagang kailangan namin ang Ethereuim sa trabaho na ito at napakahusay na bansa na pinangarap namin at tayo rin sa ating bansa ngayon ay nagsasanay na makikinig sa lahat sa bagong balita. maraming positibong balita o negatibo na hindi dapat pansinin masyadong napupunta kami bago tayo naniniwala sa mga balita .. at para sa akin tungkol sa isang pinakamalaking philipinas nagpapatupad ng ethereuim sa bansa at tama rin ako naniniwala na ang banko union bank ang kasali na ngayon sa isang crypto ng bitcoin tingnan lamang natin ang susunod na kabanata ng union bank sa pilipinas. kaya't tayo ay nag-uutos at dapat makipag-ugnayan dito, kung mayroon din tayo ng sapat na pondo para sa ating pananaw.at sa gayon ang tao ay nagsisimulang kumikilos na para mag-ipon at hindi naman kami pipiliting mag-ipon kung gusto namin.

[Script3d]

Sa tingin ko makaaapekto ito sa price ng ETH, kasi mag gain siya ng exposure sa market dahil ginagamit na ito for bamking services, maaware yung mga tao na legit pala talaga ang cryptocurrency, siguro parang coins.ph yung sistema nito which can add as another option for peoples who uses banking services.

walang epekto ito sa price ng ethereum hindi gaanong malaki ang crypto market dito sa pinas para maka move ng price sa isang coin kung malaki maraming mag fill ng mga sell orders tapos ang presyo ay tataas.

[eugenefonts]

This is a great news for our country Philippines.  And this is great exposure for crypto to my fellow country man which do not know anything about crypto currency. I know that once millineals heard this news they will be interested too in crypto, especially ethereum  this is a great step for the union bank of the philippines they choose the right coin because its far faster and low transaction fee than BITCOIN plus ethereum blockchain is undeniably better than btc. I hope that ,this the way to make my country become better and its a good sign that our country wants also to go with modernization like other asian country is doing.

[Yokonaumiyaki000]

Hindi naman siguro maapektuhan ng pag implement ng ETH ng UnionBank ang pag change ng presyo ng ETH (for the good or for the worse), kahit naman kase maimplement yan hindi rin naman tatangkilikin ng lahat yan, close minded nga kasi ang mga pinoy, mas pipiliin parin nila yung mga old-fashioned way ng mga pag transact, most likely, ang target padin ng UnionBank dito ay mga mayayaman. Pero magandang addition din to satin since diba nga recognized naman talaga ng BSP ang coins.ph at naghahandle na din ito ng ETH, di lang ng BTC.

[xLays]

Sa tingin ko makaaapekto ito sa price ng ETH, kasi mag gain siya ng exposure sa market dahil ginagamit na ito for bamking services, maaware yung mga tao na legit pala talaga ang cryptocurrency, siguro parang coins.ph yung sistema nito which can add as another option for peoples who uses banking services.

Tama. Kaya kung titingnan mo yung presyo ganun ng ETH medyo tumataas. Baka isa ito sa mga dahilan kung bakit tumaas presyo ngayon ng ETH.. From 580 USD ngayon ay 610 USD na. Hopefully matuloy tong project na to ng unionback  para tumaas presyo lalo ng ETH.

[JRLM]

CryptoCurrency is for people who will benefit for the good. kung ang mga bangko ay magkakaroon ng involvement sa crypto. malamang kaya nilang manipulahin ang market.kaya habang maaga pa mag imbak na tayo ng BTC at ETH

[biboy]

Good point talaga yan for sure laki ng impact niyan sa price ng Ethereum kahit na sa Pinas lang yan malaking bagay na yan sa mundo ng Eth kaya wag na kayong magsayang ng panahon, i-hold niyo na kung ano yong meron kayo diyan, kung ano yong kaya niyong ihold lalo na ang bitcoin at ang eth.

[chocolah29]

Sure naman na magkakaroon ng epekto ito sa presyo ng eth, good or bad so anticipate it. And this will be a huge milestone for cryptos that will benefited us in the long run and considering that Union Bank is a trusted and established one so the future will be here. And surely, hindi lang eth ang irerecognize nila but sooner more cryptos will be recognize.

[benedictonathan]

I do have some reservation about this whether this would propel the price of ETH higher since this is just one bank. Other coins show that a corporate alliance does not really increase the price of the coin but it does help in stabilizing it to prevent possible effects of BTC slowing down. So I guess the only think I can say now is we can wait and see what news will come out of this.

[ChardsElican28]

Gusto ko sanang i update kayo dito,na ang isa sa pinakamalaking banko dito ay ipinapatupad na ang paggamit ng ethereum.
Sa tingin nyo ba makakaapekto ito sa presyo ng ethereum?


UnionBank, one of the biggest banks in the Philippines, is working with US-based blockchain software technology company ConsenSys founded by Ethereum co-founder Joseph Lubin to assist local financial institutions in integrating Ethereum and blockchain-based platforms.

Remittance-Focused Industry
The Philippines has a unique financial infrastructure, and the banks are aware that only the upper class and high net-worth individuals can afford banking services. The vast majority of individuals and even businesses rely on local remittance networks and outlets such as M Lhuillier, Cebuana Lhuillier, Palawan, and LBO to send and receive payments both domestically and internationally.

Remittance outlets are often more readily accessible in rural areas and provinces, especially in areas that are not profitable for banks to establish offices and run all-inclusive operations. In major cities like Cebu, remittance outlets are seen in every corner of every street, sometimes 10 meters apart from each other.

The main reason behind the difficulty of acquiring bank accounts and services in the Philippines is the base balance required by financial institutions. UnionBank, for instance, requires users to store more than $2,000 as default balance, and the failure to maintain a balance of over $2,000 could result in penalties.
In a heavily Remittance-focused country like the Philippines, any technology that could provide transparency, security, robustness, and efficiency in processing transactions is crucial. ConsenSys and UnionBank believe that the blockchain could be the technology that might be able to drastically improve the current financial infrastructure and ecosystem of the Philippines.

Justo Ortiz, the chairman of UnionBank, stated that the blockchain could “crack the hole of financial inclusivity,” if implemented and commercialized appropriately.

In the upcoming months, ConsenSys and UnionBank will closely collaborate to utilize Kaleido, an enterprise blockchain solution launched on top of the Ethereum blockchain protocol, to process information and transactions more securely and transparently.

Alai Garcia, ConsenSys Solutions Lead in Asia Pacific, said that UnionBank is their first bank client in the Philippines and that the country could be one of the few regions in the world that could maximize the benefits of using the blockchain as both public and private sectors are keen on applying blockchain technology to existing systems.

“Our appetite for experimentation is warming the country up for significant transformational change for the next generations to come,” said Garcia.

source:https://www.newsbtc.com/2018/05/27/one-largest-banks-philippines-implementing-ethereum-consensys/

Magandang balita po ito sa mga co-investor na gaya ko una sa lahat salamat sa tread na ito kasi nauupdate nya ang bawat isa patungkol sa BTC&ETH kahit malaki ang epekto nito sa mundo nang ETH pero ok lang dahil dito nakikita naman natin kong panu umuunlad ang mundo nang cryptocurrency sa atin bansa at malaki ang maitutulong ito sa atin ecinomeya.kaya ganun nalang ang bangko kong magtiwala sa mundo nang crypto kasi nakikita nila kong anu ang mangyayari sa hinaharap salamat po godbless

[Gastonic]

Magandang balita po ito para sa ating mga Pilipino. Nagpapakita lang na handa tayo tanggapin kung ano ang uso ngayon at isa pa, mas napapabilis nito ang mga transaction. So, expect ko na mag madali lang mag transact sa Union Bank.

[Slowhand26]

2017 pa itong news bro Around November. Wala siya epekto sa price ng ETH para sa akin pero small steps ika nga. At least may nag rrecognize na bank na ang it's a good signal na lumalapit na ang Crpyto sa major player and makikilala na siya sa market outside crypto community.