The Road to Cashless: Legal framework for digital assets in the Philippines - ERP Spain.com - España y América Latina

The speaker will discuss the evolving legal framework for digital assets in the Philippines, including discussions on: E-money vs cash. The Philippine central bank has issued the regulatory framework for e-money transactions more than a decade ago. But before the covid-19 pandemic, cash is still king in most commercial and government transactions. The speaker is going to discuss how the pandemic is forcing the government and the public to embrace e-money transactions and discuss some notable initiatives that are taking place in that direction in the Philippines. Virtual currencies, virtual assets and digital assets. Virtual currencies officially got Philippine central bank recognition in 2017. From them on, the Philippine central bank together with the Philippine securities regulator, among other agencies, have been very actively involved in creating or attempting to create legal frameworks that would govern activities and transactions involving or surrounding virtual currencies, virtual assets and digital assets. The speaker is going to discuss these legal developments and how the Philippine government attempts to spur a favorable investment climate for activities relating to virtual currencies, virtual assets and digital assets. Blockchain: a solution in search of a problem? From the beginning, there has been a lot of hype about blockchain technology and how it is supposed to be the answer to a lot of problems; but more often than not, the hype has failed to deliver. But that might be about to change. The speaker will share some of the most notable financial use-case of blockchain in the Philippines and how these financial use cases provides more than a glimmer of hope to the future of blockchain the Philippines.