Cryptocurrency is a life-changing technology. Many have finally realized its potential, and its adoption rates are going up significantly. Many banks and financial institutions are deciding to adopt crypto because of its great efficiency and connectivity with the public because of its decentralized nature. Almost sixteen percent (16%) of the financial technology industry is based on blockchain or crypto technology.
Many countries have adopted the crypto technology and are making a profit off of it, but there is one in particular that is attracting the attention of many aspiring entrepreneurs and developers. Philipines is a developing country, and its locals have poor availability of basic government services. Attempting to ride with the crypto tide the big influential organizations and banks are planning to make their move. UnionBank is a financial giant, and it has already started experimenting with the blockchain technology by finding ways on how to integrate it with the original system.
Coins.phis a blockchain based digital currency wallet, and it is also making its move by offering safe, trustworthy and easy payment services to people who have no bank accounts or are not registered. It can pay bills and also make P2P transactions. It also aims to decrease the usual fee required to make international remittances. This service is very important for Filipino workers that live abroad. Migrant workers have almost ten percent of their salary used to make just international transactions for sending the money to their home country.
The Filipinos are embracing the crypto technology with open arms. They know that this technology is their key to make Milano the next Tokyo, HongKong, London or NewYork of Philippine. 2018 was a very bumpy ride for most of the new technology that got recognition this year. Philippine is going to be the hub for something phenomenal and the new businesses and entrepreneurs settling there are going to make it happen.