Philippine central bank also to launch its own digital coin

Bitcoin Talk and Cryptocurrencies Cryptocurrency In the News
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After Japan, China and the UK, it appears, the Philippines will be the next country to seek to introduce a digital currency.

A special committee has been formed by the Bangko Sentral ng Pilipinas (BSP) to assess the feasibility of such a move as well as the possible consequences.

The governor of the country’s central bank, Benjamin Diokno, has stated, however, that there is no concrete decision and that the committee must reach a conclusion first.

The governor also pointed out that the blockchain technology itself is more valuable than the digital currency it supports.

This idea seems to be taking root all over the world, I wonder which will be the next country to do this.

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Perhaps Russia, as a recent bill there “prohibit[s] Russian residents from making payments in cryptocurrencies like Bitcoin starting from Jan. 1, 2021”

So a preemptive strike to put the focus on a state-backed bank stablecoin?

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I would not be surprised if that was the case.

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I am not too au fait with cryptos but - “possible consequences” ?

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To the economy. To the way people shop. What effect it would have on crime too, I imagine.

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Yes, crime was what I was thinking. The Philippines government is criminal !