Understanding Cryptocurrency

On the 12th of July 2018, the German-Philippine Chamber of Commerce and Industry, in partnership with the French Chamber of the Philippines, held an intimate discussion entitled “Understanding Cryptoeconomics”, at BlockChain Space, Acceler8 Coworking Space Legazpi. Throughout the night, participants were treated to presentations from three speakers who talked all about the digital transformation of finance and trade.

The first speaker was Mr. Ramon Tayag, Chief Technology Office at Bloom Solutions, who introduced the concept of cryptoeconomics and emphasized the importance of the transformation to digital. Mr. Tayag mentioned that BlockChain was a machine for creating trust, reducing intermediaries between transactions, and creating a consensus from a whole network.

Next up was Mr. Peter Ing, Philippine Country lead of the event’s official venue partner, BlockChain Space. Having just launched in the Philippines last May, Mr. Ing talked about the growing trend of blockchain and cryptocurrency in the Philippines. He explained the current efforts of the government with regards to the regulations and policies of virtual currency, and the different finance technology applications available in the Philippines.

For the final speaker, the audience had a chance to hear from the more traditional side of finance with Mr. Tovi Mendoza, Head of Transaction Banking Group Product Management at Banco de Oro. Mr Mendoza was able to discuss banking in the digital world and how traditional banks should adapt to the digital transformation of the world. He mentioned that many banks have collaborated with different FinTech apps to increase mobility and innovate different services.

The presentations were followed by a lively Q&A portion and a small networking where the audience engaged the speakers and each other as well in discussions on BitCoin and the future of business and finance in today’s digital world over food and some drinks.

GPCCI would like to thank CCI France – Philippines and BlockChain Space for the contributing to the success of this event.