BEFORE:
Negative impact on the economy as per the past government.
The remittance market is increasingly $26 Billion annually which is rank no. 3 in the world.
Charities has limited reach internationally because of high transfer fees.
Unqualified merchants to accept digital currency.
10% transfer rate from fiat money.
NOW:
You can now purchase goods using a bitcoin in some small online merchants.
Availability of Bitcoin Atm located in Salcedo Street, Makati Philippines.
Bitcoin as donations given to the charities reaches internationally
Pay services using bitcoin.
Buy foods and drinks in the fastfoods in the philippines.
Lastly, increasing and growing numbers of people using bitcoin in the philippines.
This is how our country adopting a new technology, How's yours? Please share with us.
Thats really nice if govt has allowed to trade/use cryptocurrency in Philippines, It will surely boost country's economy, BITCOIN availability will allow people to invest into it, in my country govt still has not legalized any transaction using bitcoin, although a large number of people in our country is trading bitcoin by one or another method but still still out of reach from the common people, I hope govt one day will realize the power of blockchain and will accept it.
