Thought leaders and decision makers from the fintech industry in the Philippines recently gathered at the Marriot Hotel in Manila for The Ultimate Fintech Summit.
Organized by Asia CEO Events, the summit aimed to present movers and shakers who are breaking barriers to financial access in the Philippines and the rest of the world.
Over 200 participants from fintech and digital sectors were welcomed by Richard Mills, chairman of Asia CEO Events, to a whole day of sessions focusing on financial inclusiveness, payments, mobile, retail, marketing and data, as well as the topic that most people are curious about—blockchain and cryptocurrencies.
This summit served as the gateway for the fintech community in Manila to learn more about the use of blockchain and cryptocurrencies such as the Bitcoin Cash. Jimmy Nguyen, CEO of the blockchain research and development firm nChain Group, opened the sessions with his winning presentation on how Bitcoin Cash will power the future of Bitcoin commerce (bCommerce). Nguyen explained the reasons merchants should adopt this cryptocurrency—like easier, faster and lower transaction fees—and also pointed out that bitcoin should not be perceived as anti-bank or anti-establishment.
“Businesses in all sectors, whether you’re a bank, payment services provider, technology company, companies in all industries, I’m here to tell you, should be embracing their role in this bCommerce world,” Nguyen explained.
Meanwhile, Israel Keys of Bloom Solutions spoke about his company’s use of the blockchain tech and cryptocurrencies alongside traditional compliance tool for remittance, explaining this technology has helped on reducing costs and faster disbursements of funds.
TagCash’s CEO Mark Vernon also presented his blockchain-based digital wallet which offers various solutions for merchants and individuals under one platform.
Blockchain, the technology underpinning cryptocurrencies like legacy Bitcoin (BTC) and Bitcoin Cash, has been a boost to tech companies and digital services. And as the worldwide adoption of blockchain technology grows, more companies are adopting the technology for ease and more seamless processes.
Lito Villanueva, managing director of FINTQnologies under the PLDT Group and running the largest digital lending business in the Philippines, shared how his company has considered including blockchain in the pipeline of their business agenda. He shared that it’ll be part of their re-engagement and initiatives within the year.
“I think this [blockchain technology] will hasten the process in terms of facilitating greater efficiencies,” Villanueva said.