[ad_1]
The Philippines Should Not Miss The Blockchain Age, Blockchain Says Advocacy Head
The Philippines has a big chance to become a leader in the emerging blockchain space , with all the stakeholders in the country should step up to make this dream a reality. Justo A. Ortiz, President of the Blockchain Association of the Philippines (BAP) and Chairman of the Board of UnionBank of the Philippines, said this at a media roundtable at the Manila House sponsored by UnionBank. Ortiz said other countries present a vacuum in blockchain development and the Philippines could exploit this.
"If ever we missed Internet age, maybe let's not miss the blockchain age," Ortiz said.
In a previous interview with Cryptovest Ortiz said that UnionBank is spearheading blockchain development among local banks because of its belief that the nascent technology could provide a solution to the many challenges of providing financial services to the millions of unbanked Filipinos.
Indeed, the
According to the BAP chief, there are some cryptocurrencies which are generating a lot of attention as a new trading asset, there are a number of applications where blockchain can be used. . He cited the same time as the best time in the world.
At the same time, Ortiz told the same roundtable (19659009) "That's one of the important underpinnings of a blockchain ecosystem. Regulation, the law, is an important part of the business of the state of the economy. "
Bangko Sentral ng Pilipinas (BSP) issued An explanation of this issue in the context of this year, but it does not include the provision of information on the subject. regarding blockchain, such as the creation of blockchain, and crypto-focused departments,
For its part, the Securities and Exchange Commission (SEC) is in The process of finishing an 'appropriate rule' for the blockchain ecosystem The SEC is asking for the active participation of stakeholders in drafting the rules.
Cecilia Mueller Chen, director at Zug, Switzerland-based Crypto Valley Association (CVA), reiterated her stance on the topic of blockchain community self-regulating organization
However, she noted that both the BSP and the SEC are adopting an "open to learning" policy in blocking approach and its applications and opportunities.
This article appeared first on Cryptovest
Fusion Media of reliance on the information including data, quotes, charts and buy / sell reports contained within this website. It should be fully informed about the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
[ad_2]
Source link
