3. The Giants are here to help.
Participants got the chance to network with fellow Bitcoin users
As per Microsoft Philippines:
A growing number of enterprises are experimenting with Blockchain as a secure and transparent way to digitally track the ownership of assets across trust boundaries, opening new opportunities for cross-organizational collaboration and imaginative new business models. Microsoft’s vision is to help companies thrive in this era of secure multi-party computation, delivering open, scalable platforms and services that any company, from ledger startups to governments, health organizations to global banks, can use to create new value. We explore business use cases and example solutions and discuss how Microsoft is collaborating across many different open consortia to enable businesses to accelerate their development of Blockchain resources.
Financial technology gains steam in this section, now that the piggybanks and arinolas we Filipinos have grown to love have been replaced by our beloved smartphones and laptops as means of storing money. With Microsoft’s Azure, managing your money isn’t only as easy as a tap; it will also help you become financially (and technologically) literate. Now, this isn’t a bad thing; but if your business involves transactions with like-minded consumers, in a sense that you should be preferring physical cash, acknowledging help from big tech companies is for you.
2. Cryptocurrency can reinvent remittances.
If you have a loved one abroad, sending and receiving money from them can be a pain. From going to remittance stalls to filling up forms to receiving the cash, this hassle is something that cryptocurrency has solved. Cryptocurrencies can reinvent remittances without going to the mall or filling up any forms. An ambitious feat, sure, but it allows funds to move from Country A to Country B with a few taps on your smartphone. Did I mention that it also aims to remove tax cuts normally found in remittances? Now, how accessible is that?
Of course, this is still a work in progress, but considering the technological advances we have had in the past 5 years, this idea doesn’t seem impossible.
1. There are no third parties involved.
Money makes the exchange of many different goods and services among many different people possible. Wherever we go, money is used as a medium of exchange. Bitcoin and other cryptocurrencies don’t differ from dollars, yen or pesos, but removing the intermediaries (i.e. banks) is a problem that Bitcoin solves.
By calling it bCommerce, CEO Jimmy Nguyen says that it can replace traditional online payment systems like PayPal or Visa. Cryptocurrencies have slowly achieved their high ambitions: to become a widely used facet of daily life, much like our smartphones and computers.
So, how does the Philippines factor in when it comes to cryptocurrency? Well, at the end of November 2017, the Philippines’ Securities and Exchange Commission announced its intention to introduce cryptocurrencies in the legal field. This means that we can become one of the pioneers in the field of regulating digital assets soon. Legislative security could positively affect the popularity of the Philippines in the cryptocommunity. And very recently, they have been drafting a legislation allowing crypto exchanges, as well.
Blockchain and Bitcoin Conference: Presented by SmileExpo
https://philippines.bc.events/en/articles