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New crypto currency player opens RP office

A new player in the crypto currency business, Global Crypto Hub, has announced the opening of its office in Jollibee Plaza in Ortigas, Pasig, which is the start of the massive expansion in Asia.
Shanin Pili, founder of the new player in crypto currency business, said the opening of their office in Ortigas is a solid testament that they mean business to bring the technology closer to Filipinos.
“We have witnessed the era where it started with coins, then paper, then credit and debit card and now crypto currency. All the real money will be no more,” Pili told select business journalists in the announcing ceremony at the Crown Plaza hotel in Ortigas Center.
There will be 15 hubs the business entity is eyeing to open in Asia this 2018. The Philippine hub will be the flashpoint of the hubs, the official said.
Officials who attended the launching ceremony admitted there are skepticisms about the latest financial technology because some view it as complicated while some see it as tool for financial fraud.
Jagdish Pandya said a handful of countries have already accepted crypto currency in their system because these countries have realized the benefits to those who use it instead of the traditional banknotes.
“In the US, they have ATMs solely for crypto currencies. Same thing in Japan and Russia because their governments are now recognizing the benefits of using bit coins compared to traditional notes,” Pandya said.
However, the Indian businessman said he disagrees to observations that bit coins are now a common staple, with some financial analysts calling the technology new in the mainstream financial system.
“There are only 31 million bit coins all over the world. This is very, very small when compared to the global population whose majority still use traditional currency,” he added.
According to Wikipedia, there are over seven billion people in the planet today.
In a separate press conference last year, experts said most Filipinos in Dubai send remittances to their loved ones in the form of bit coin.
Sending amounts through this medium is fast and comes in real time unlike cash remittances that sometimes don’t get into the recipients’ hands because of telco issues, bank limitations and sometimes, lost while undergoing wire transfer.
Pandya appealed to all nations in the world to regulate and recognize the benefits of using crypto currency, stating that the incident of fraud and money laundering through this technology is an isolated issue.
The Philippines is one of the backward countries that don’t know how to regulate this new system.
Joff Paradise, an expert cryptopreneur, said the more people who embrace the new financial technology the more ease to life will be discovered.
Bitcoin, block chain and crypto currency are our future,” Paradise said. Ed Velasco

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