Sunday, September 21, 2014

Bitcoin in the Philippines: A Perfect Cryptocurrency Storm



So how is it that the Philippines – a developing country with its share of geographical and economical problems – manages to be leaping to the front of the pack when it comes to bitcoin?

Some western entrepreneurs now regularly visit the country to check out the cryptocurrency scene’s progress, including Nick Sullivan from Silicon Valley-based ChangeTip.

There are two main ingredients that have brought about this state of affairs.

The first is remittances. The Philippines is the third largest recipient of money from its workers overseas, after China and India, with $22bn received in 2013.

Ron Hose, founder of bitcoin exchange Coins.ph, adds that “internal remittance, people in the Philippines sending money to family and friends in the country, probably adds $50bn to $70bn on top of that”.

Both flows of money can earn the legacy money-transmitting companies up to a 10% cut on average remittances of $200 – an industry that bitcoin companies could do very well in disrupting, lowering fees and still making good profit in the process.

The second ingredient is the incredible level of social interactions of the Filipinos. It’s not a myth to say that people are over-friendly and connecting the dots, making it both the selfie capital of the world and one of the most active social media nations.

Mobile penetration is already beyond the 100% milestone and, combined with the youngest population of South-East Asia and rapid growth, you have what some call the ‘perfect digital storm’.

Read more:  http://www.coindesk.com/bitcoin-philippines-perfect-cryptocurrency-storm/




Produced for SQ1.tv, this Bitcoin documentary looks at the history, the ideologies, and the conflict between the politics of the early-adopters and the VCs/entrepreneurs pushing to take Bitcoin mainstream.

SQ1.tv interviewed many of the leaders in the Bitcoin movement including Gavin Andresen, the former lead developer; Jeremy Liew, a venture capitalist; Erik Voorhees, one of the notable libertarians in the movement; Fred Ehrsam, co-founder of Coinbase; Peter Vessenes, head of the Bitcoin Foundation.


And by far the most out-of-this-world way to use bitcoin:


Richard Branson's commercial space company, Virgin Galactic, will accept Bitcoin in exchange for a ride into space. Yeehaw!!!

5 comments:

  1. This article is wonderful. By the way, we would like to let you know about our company: Premium Travel Vietnam (PTV) is a professional, leading tour operator based in Da Nang city – central Vietnam. Our office is at 21 Che Lan Vien Str, Ngu Hanh Son Dist, Da Nang city. We have been in the tourism industry for many years and with a comprehensive experience in this field, we are proud to be one of the best travel agents in Da Nang in particular and in Vietnam in general. Everyday,we provide tourists with local tours to all tourist sightseeings in central Vietnam such as many historical sites of My Son Holyland, Hoi An ancient town, Hue ancient capital, Demilitarized Zone, Phong Nha National Park, Ba Na Hills. As you know, central Vietnam is an amazing area and it is known as World Heritage Road in Vietnam due to its various UNESCO sites such as Hoi An ancient town, My Son Holyland, Hue ancient capital, Phong Nha National Park. Moreover, central Vietnam is not only picturesque region but the people are so friendly, warm hearted and welcoming. Today, there are more and more people coming to visit central Vietnam, especially Da Nang city. Da Nang is not only well known for its beautiful beaches but it is also popular for historical sites, tourist attractions such as Cham Sculpture Museum, Marble Mountains, Linh Ung Pagoda and Golden Bridge in Ba Na Hills. As people say, Da Nang is the most liveable city of Vietnam. So, in order to meet demand of customers coming to sightseeing Da Nang city, central Vietnam, especially by airplane from many countries, we, PTV, therefore organise Da Nang Airport Transfer. Coming with our services, we are happy to provide you with the best services as we can. We have a wide range of latest cars/vehicles with comfortable seats, perfect air conditioning, English speaking drives. Moreover, we supply you with pure water and wet tissues. We pick you up from Da Nang airport and drop you anywhere in central Vietnam. We daily arrange airport pick up from Da Nang to Hoi An, from Da Nang to Hue ect. Let’s come and book services with us. We will totally make your pick up in Da Nang a safe, special and comfortable one. Besides, our company also arranges package tours, private tours or day tours to Phong Nha National Park. A new tourist destination of central Vietnam in Quang Binh province. So, let’s come and explore amazing, fantastic caves and impressive nature as well as spectacular stalactities, stalagmites at Phong Nha Park with Phong Nha Pioneer Travel. If you want to know more about this tour, kindly contact us at premiumvietnamtravel@gmail.com or whatsapp us at 0084979613777. We are very pleased to serve you and be a reliable partner to you.

    ReplyDelete
  2. Online e-commerce essay writing help services are very common nowadays since there are very many students seeking E-commerce Essay Writing Services and e-commerce research paper writing services.

    ReplyDelete
  3. Klingt super interessant! Probiert doch auch mal das Hotel Allgäu (https://panoramahotel-oberjoch.de/) aus!

    ReplyDelete