Global experts in the field of cryptocurrency, blockchain technology and financial technology believe that the Philippines is at the cusp of being crypto-powered and could soon be the next fintech hub in Southeast Asia.
The first ever Philiipines-Japan Forum on Investments and Cryptocurrency held recently and organized by the NOAH Foundation, gathered together thought leaders in these new technologies from the Philippines, Australia, USA and Japan in an effort to make more people understand cryptocurrency, blockchain technology and fintech.
NOAH Foundation Director Josef Werker said that the Forum has become necessary in the light of heightened excitement on these new technologies and the need to educate the public about these.
“We felt that this is the perfect opportunity to bring together experts to become our knowledge partners so they could best share how cryptocurrency, blockchain technology and fintech, impact the way people live right now, and more importantly how it could affect the way we do things in the future,” Werker said.
Cryptocurrency and blockchain technology expert Miguel Antonio Cuneta, co-founder and Chief Community officer of Satoshi Citadel Industries ( SCI), said that bitcoin and blockhain technology is the internet of money, citing it is going to do for finance and governance and banking what the internet did for telecommunications, media and publishing.
He said that SCI has development remittance platforms, mobile money, exchange platforms and payment platforms using the technology which is not limited to making money, trading or regulating.
Ron Hose, Founder and Chief Executive Officer of Coins. ph said that banks can take advantage of this new technology simply by innovating.
“The future of banking is really moving towards connecting consumers directly with financial services. We are not displacing the existing financial institutions, we are working with them to increase their reach into more consumers. We have done quite well, we have over 3 million registered customers. We partner with many other prominent players,” he added.