Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Binance Smart Chain + Ecosystem => Topic started by: coingabbarmarket on November 17, 2023, 01:45:48 PM
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Philippines Treasury Embraces Blockchain with $179M Tokenized Bonds
The Philippines Bureau of the Treasury opts for a groundbreaking approach, offering $179 million in one-year tokenized treasury bonds.They aimed at institutional buyers, the bonds, issued by state-owned banks, signify the Philippines' exploration of blockchain technology.
This aligns with the broader trend of Asian governments embracing tokenized bonds and digital assets.
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That's really good news. The Philippines Bureau of the Treasury has decided to offer tokenized treasury bonds. This shows that they are open to using blockchain technology. It's great to see that Asian governments are starting to see the value of tokenized bonds and digital assets. This decision not only shows the advantages of using blockchain in finance, but also opens the door for more new ideas and acceptance in the region.It's an exciting time for the crypto and blockchain industry.
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If the Philippines wants to open the door to cryptocurrency which is based on shares, it must have strong regulations from the start and from the bottom up.
If you insist on presenting tokens for shares, without any applicable regulations, the Philippines will be very vulnerable to scams.
Cryptocurrency is full of drama and even full of anonymity which can come attack between us at any time.
My Positive thinking is all caountry in the world have more complicated rules for cryptocurrency, but i'm sure Philippines will growth up for Digital Asset like as Cryptocurrency.
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Cryptocurrency is full of drama and even full of anonymity which can come attack between us at any time.
I'm not sure about the anonymity part. From the way I see it, the government is trying to force people to give up their privacy if they want to access the market easily. The crackdown on privacy solutions and the ever-increasing KYC rules speak volumes about that. On the other hand, many meme or scam projects are indeed launched easily and sadly a ton of people still fall for that. I don't think that will change if the market doesn't get smarter though. Most of them believe in the pump itself, not necessarily that the team or the token has strong fundamental values in the long term. But I'm inclined to believe that most people are not dumb enough to trust some tokenized assets if the team behind it can't show how they make sure the underlying asset exists.
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Cryptocurrency is full of drama and even full of anonymity which can come attack between us at any time.
I'm not sure about the anonymity part. From the way I see it, the government is trying to force people to give up their privacy if they want to access the market easily. The crackdown on privacy solutions and the ever-increasing KYC rules speak volumes about that.
The meaning of Anonymity there is people who are not responsible for harming other people by using cryptocurrency.
For example, fraud under the guise of ICO, Web Pishing, cryptocurrency hacking and so on, but they use their hacking skills on the basis of cryptocurrency.
Apart from the government providing KYC to users in various markets, it is very painful because I have also had a lot of exchanges (CEX) go bankrupt since 2017, and my KYC might be misused by them (I hope not).
And I have a question for you:
-If KYC is not expected in centralized markets (CEX), then what do you withdraw your assets to Fiat?
-I use Indodax and Binance have to use kYC so I can withdraw my funds to Fiat, so they can go to credit cards like Visa and Mastercard.
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Apart from the government providing KYC to users in various markets, it is very painful because I have also had a lot of exchanges (CEX) go bankrupt since 2017, and my KYC might be misused by them (I hope not).
Let's take examples such as Bittrex, FTX, Kucoin, Cryptopia, all of which are centralized exchanges that require KYC for all their members.
If we don't implement KYC then we can't withdraw our money from the exchange, and what is the proof now? Bittrex , FTX , Kucoin , Cryptopia are all closed!
There is one problem here, if the four exchanges are closed like this, what will happen to our personal data?
Can they guarantee that our KYC is safe?
If our KYC is leaked then we could become a target for criminals from all over the world, if we have a lot of cryptocurrency assets.
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The Philippines' decision to issue tokenized treasury bonds is a progressive step towards financial diversity and the integration of digital assets, setting an example for future financial innovation.
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Philippines Treasury Embraces Blockchain with $179M Tokenized Bonds
The Philippines Bureau of the Treasury opts for a groundbreaking approach, offering $179 million in one-year tokenized treasury bonds.They aimed at institutional buyers, the bonds, issued by state-owned banks, signify the Philippines' exploration of blockchain technology.
This aligns with the broader trend of Asian governments embracing tokenized bonds and digital assets.
If the Philippines went this way, it says something about the Philippine government that they are not interested in fraud and corruption developing in the government, since the blockchain system implies that it is impossible to just pull out money and hide without consequences; all transactions in the blockchain are recorded and stored there forever .
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If the Philippines went this way, it says something about the Philippine government that they are not interested in fraud and corruption developing in the government, since the blockchain system implies that it is impossible to just pull out money and hide without consequences; all transactions in the blockchain are recorded and stored there forever .
It is true, when a government has implemented blockchain technology to record all incoming and outgoing transactions of money in its country, it will make it difficult for them to commit corruption and other criminal acts. So this will be opposed by many individuals because they cannot make money from that method.