Philippines' "E-Peso" Digital Currency Will Try to Use Bitcoin Technology
Representative Kimi Cojuangco, a member of the Filipino House of Representatives, is pushing for an "e-Peso," the Phil Star reports. House Bill 4914 would create the "e-Peso" as an online medium of exchange for Filipinos. The proposed bill would have the Filipino Central Bank research Bitcoin and other cryptocurrencies and decide what the best course of action would be. The e-Peso would be officially granted electronic legal tender status, according to Cojuangco: What exists is a patchwork of methods using traditional credit systems, which act in place of money on the Internet. The E-peso....
Related News
Just a week ago, Filipino congresswoman Kimi Cojuangco introduced a bill in the Filipino House of Representatives that would create a government-backed digital currency that would serve as an official medium of exchange for domestic online payments. This digital currency, known as the "e-peso," was proposed as part of the E-Peso Act of 2014. The e-peso that would be at par with the country's official currency the Filipino Peso would be used as legal tender. Of interest to the bitcoin industry is that in its current form, the bill would require the Filipino central bank, the Bangko Sentral....
Filipino lawmaker and representative of the 5th District of Pangasinan Kimi S. Cojuangco, pushes the proposed "E-Peso Act 2014" to be immediately enacted, as the Philippines is lacking an "official medium of exchange or money for the internet," reported The Philippine Star. The representative explained: Under the bill, E-Peso would become a legal tender and a legal payment method within the Philippines, and would be available in all local banks branches. "What exists is a patchwork of methods using traditional credit systems, which act in place of money on the Internet. The E-peso is the....
Last week, Philippine Congresswoman Kimi Cojuangco caused a buzz within the crypto community by proposing the country’s first digital currency, an altcoin entitled E-Peso or Electronic Peso. The E-Peso is the electronic equivalent of the paper peso. All rights, obligations, attributes and characteristics accruing to the paper peso shall also accrue to the E-Peso. The E-Peso is legal tender, and a valid and legal payment for debts, taxes, goods and services transacted through the internet. Being a legal tender, E-Peso cannot be denied as a legal mode of payment; The proposal has stated that....
The world of digital currency is heating up in the Philippines. The nation is welcoming its latest bitcoin exchange Palarin, which is aiming to bring Coinbase-style services to the country and grant citizens some easy access to bitcoin and bring a little friendly competition to companies such as Rebit. The Philippines is proving to be one of the fastest-growing areas in Asia, and when it comes to embracing new forms of technology, the people are always there at the front of the line. Palarin co-founder Brian Gamido explains some of the motivation behind the company, with the primary goal....
The Philippines will hold a convention on payments and e-commerce this September to highlight the growth an opportunities in this industry. This will bring together more than a thousand attendees, 60 speakers, and 40 international and local exhibitors for the Cards & Payments Philippines and E-Commerce Show Philippines expo, with some set to discuss cryptocurrency trends in the country. The events will be held in the SMX Convention Center in Manila from September 2 and 3, with industry leaders from the Department of Trade & Industry, Bangko Sentral ng Pilipinas, Globe Telecom, E-PESO, Land....