The Philippines’ Love of Crypto Grows Every Day

We all know that cryptocurrencies are a big deal in Asia, but it seems like the Philippines is a growing hub for related crypto usage.

Despite Price Swings, Crypto Remains Popular

Digital assets have enjoyed something of a mixed back over the past year. Since early 2018, bitcoin, Ethereum and many other digital currencies have been trapped in the doldrums with seemingly no way out. Things got even worse last November when prices fell to their lowest points in almost two years. bitcoin, for example, had been hanging around the $6,000 mark all summer, though by the time Thanksgiving rolled along, it fell to roughly $3,600.

Now, cryptocurrencies are seemingly making a comeback, with bitcoin spiking beyond $5,000 and Ethereum hitting the $176 mark, but there’s still lots of room for improvement. These prices don’t compare to the stellar moves we all witnessed in 2017, and many enthusiasts are longing to get back to those days quickly.

Despite the consistent price fluctuations, the Philippines is showing great affection for cryptocurrencies and blockchain technology. In addition, the country is witnessing heightened lenience amongst cryptocurrency regulators.

Thus far, approximately 29 individual cryptocurrency exchanges have been approved by officials, while the country’s central bank have approved an additional three in recent months. Compare this to other regions like India, who’s central bank officially barred companies from doing business with cryptocurrency exchanges last year.

The Philippines’ central bank has approved a total of ten cryptocurrency exchanges.

Jonathan Ravelas – chief marketing strategist with Banco de Oro UniBank in Metro Manila – says that the country is taking the fast route to technological innovation. He comments:

Fintech appears be very advanced in the Philippines. [Consumers] eventually look at the mobility of having it in mobile wallets, [which] gives them flexibility to use money.

One of the biggest problems that residents are facing is a lagging banking structure. It is estimated that roughly seven out of ten Filipinos do not have access to bank accounts, and cryptocurrencies provide them with an alternative option to make payments.

Digital assets are also a popular method of raising capital amongst businesses. This has given rise to initial coin offerings (ICOs) all over the country.

Moving Ahead of the Game

Kenneth Ameduri – financial analyst and CEO of crypto news platform “Crush the Street” – says that the Philippines are in a prime position as of late, as it’s a very technically advanced country. He also says that cryptocurrencies are happening and cannot be avoided, which places the Philippines ahead of other nations:

I think the Philippines understand that it’s going to be a very big deal to be involved with cryptocurrency because it’s going to happen no matter what. If they’re the ones to treat this capital best, the capital is going to flow there, and the other jurisdictions are just going to completely miss out.

Tags: bitcoin, crypto, Philippines

Published at Fri, 12 Apr 2019 19:00:34 +0000

July 23, 2017

Virtual Reality Business Networking on The Blockchain

Shares Per Hour, better known as SPH, takes business networking to the next level using the innovation of virtual reality (VR) and blockchain technologies.

[Note: This is a press release.]

You’re probably familiar with LinkedIn, if not, it’s a site where professionals can connect & network with each other through a website and mobile app. These current web and mobile app based services are fast becoming hard to use and outdated. SPH brings new life and excitement to the world of “Business Networking”, incorporating distributed technology that brings people closer together than ever before.

The improvements come from utilizing the three leading technologies in computer science: VR; Blockchain and Artificial Intelligence. Let’s take a more in depth look at how these breakthrough technologies aid in improving coordination, leading to increased productivity and time savings for businesses and everyday life.

Virtual Reality (VR) Virtual Reality Becomes the New User Experience (UX)

Shares Per Hour demonstrates the power of a deeply immersive work space. No longer are you limited to the size of a computer screen or mobile phone. Now your entire field of vision is accessible and functional. Don’t worry about access to your legacy desktops and cell phones, you still have them right there in the virtual office space of your choice.

There’s no need to pull your cell phone out of your pocket, instead, you can instantly see your phone’s screen and resize it however you like in futuristic holographic representations right in virtual reality. The same goes with your desktop screen and even your team members computer screens. Instantly teleport over to your co-worker’s office to collaborate, even at the virtual beach.

SPH expands much further into the VR immersive user experience but we will first explain the foundation that Virtual Reality will sit on, distributed ledger blockchain technology.

Blockchain Allows SPH to Progress Past a Simple Business Networking Project

The blockchain enables smart contracts to be created between parties. After negotiating a deal in the virtual world, users can close the deal with a “virtual hand shake” backed up by a smart contract running on the blockchain. Secure “per hour” payment plans can be set up in place between users.

User studies have shown “per hour” deals are the quickest to close and begin, Workers actually receive payment every hour, in real time, which aids in the workers’ confidence. Employers are protected through the collaborative UX and the reputation system. We will talk more about this in the artificial intelligence section.

Artificial/Virtual Intelligence (AI/VI)

A great thing about the blockchain is the ability to source it for data, collecting and analyzing this public data for future use. Sourcing data is key to creating a useful AI. A top SPH feature using AI is the VR hiring agent or what some people might call a VR head hunter. This is where users go through a more personal and immersive experience describing themselves and their ambitions to a virtual hiring agent who can aid in determining where they best fit into the digital work force.

The same process happens with employers. In the end, AI/VI algorithms are used to match employees and employers together and schedule interviews. AI is not used to do smart contracts between users. Users interact with each other in the virtual world and come to agreements. AI is used to save time and the human interaction is used to make final confirmations on business networking agreements.

For More Information

If you would like to learn more about SPH, visit the official website: https://SharesPerHour.com.

Read the in depth technical blackpaper or view the friendlier overview and demo videos. The ICO token sale is currently under way. It’s free to join the website. We strongly recommend joining the website since registration for the website will close 72 hours prior to the end of the ICO. Only previously registered members will be allowed to participate in the ICO during the last 72 hours.

Images courtesy of Shares Per Hour

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