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❕NEWS Philippine central bank embraces digital tokens

Josemendez

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According to cointelegraph.com , Philippian central bank believes that digital token will go a long way in reducing the rate at which fiat currency is used.
This was made known by Philippine central bank Bangko Sentral governor , Benjamin Diokno who went further to say that " digital tokens expand reach and lessen costs of financial services as well as reduce the use of fiat money" .

Do you agree with him on the use of digital token to reduce fiat currency usage ?
 

onlyprofits

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I agree with all the beneficial uses that have a cryptoactive as the protagonist, because that little by little is paving the way for the total adoption of cryptocurrencies.
 

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The truth of all this is whether large corporations like it or not, we are facing a new era of transactions, in which decentralization has a leading role
 

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The truth of all this is whether large corporations like it or not, we are facing a new era of transactions, in which decentralization has a leading role
Simple truth, digitalisation has come to stay, accepting the digital stable tokens is already a step in the direction of Crypto currencies, who ever has Crypto currencies should hold them tight.
 

onlyprofits

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Simple truth, digitalisation has come to stay, accepting the digital stable tokens is already a step in the direction of Crypto currencies, who ever has Crypto currencies should hold them tight.
It is true, you have to have strong hands so you are not tempted to sell and then regret it when you see that the price has risen and you missed the opportunity to make higher profits.
 

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It is true, you have to have strong hands so you are not tempted to sell and then regret it when you see that the price has risen and you missed the opportunity to make higher profits.
You can also sell and always buy at intervals of low price of bitcoin ,it a business that is lucrative if one is always lucky to buy at the right time.
 

onlyprofits

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You can also sell and always buy at intervals of low price of bitcoin ,it a business that is lucrative if one is always lucky to buy at the right time.
When the trend is up, it is very easy to scalp, but when the trend is down, it becomes quite difficult, especially when it is in the consolidation zone.
 

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What I can't really seem to understand is why is there the need to reduce the use of fiat currency? I am totally for the digital token, just wanted to know why.
 

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Yeah I agree that digital currency will create less useage of flat currencies , because they are both stable then I see no difference except one is digital
 

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There is no differences as such only that with digital stable coins or currency online businesses or transaction has become much easier.
 

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Yeah the digitalised one can be used for online basis and other things ,but the only demerits is that not everyone is familiar with it
 

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According to cointelegraph.com , Philippian central bank believes that digital token will go a long way in reducing the rate at which fiat currency is used.
This was made known by Philippine central bank Bangko Sentral governor , Benjamin Diokno who went further to say that " digital tokens expand reach and lessen costs of financial services as well as reduce the use of fiat money" .

Do you agree with him on the use of digital token to reduce fiat currency usage ?
Though this doesn't sound harmful to me but I will want to know the benefit that will be derived if there's less usage of fiat money. For me it should be used on same frequency.
 

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Though this doesn't sound harmful to me but I will want to know the benefit that will be derived if there's less usage of fiat money. For me it should be used on same frequency.
The only benefit I know that would be deprived is that the banks would be affected because they actually get revenue from those flat transaction , same with the government
 

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The only benefit I know that would be deprived is that the banks would be affected because they actually get revenue from those flat transaction , same with the government
I think your point is more of a disavantage than an advantage. Since the bank will be denied of revenue then it will be more of a loss than a benefit
 

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I think your point is more of a disavantage than an advantage. Since the bank will be denied of revenue then it will be more of a loss than a benefit
I meant the benefits that would be deprived you can check on the comment again , because that would be a disadvantage and not advantage
 

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The only benefit I know that would be deprived is that the banks would be affected because they actually get revenue from those flat transaction , same with the government
The revenue may be reduced but transaction involving fiat currencies will still be very much invoke because more people will use fiat currencies while others uses digital coins
 

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The revenue may be reduced but transaction involving fiat currencies will still be very much invoke because more people will use fiat currencies while others uses digital coins
o but all I know is that when more people or users are into crypto more people will get to know about digitalised stable currencies and start it's useage
 

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People that will embraced the digital coins are people that run online he transactions most times because they will see it as easy means of running transactions though continuous sensitization make more people to adopt it
 

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Not only people that run online transaction offline companies can also send to their staffs and this will get more awareness that's one thing about it
 
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