Bangko Sentral ng Pilipinas to pilot CBDC project

electronicash

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Quote from: SFR10 on May 01, 2022, 05:25:21 AM

Quote from: Sanitough on April 30, 2022, 06:36:29 AM

@SFR10, ang pangit naman kung ganyan, parang hindi rin makakatulong kasi mostly for internal or banking purposes lang ginagawa nila.

Ayon sa "article na ito ^{[huling paragraph]}", kailangan muna magkaroon ng "law or legislation" bago sila makapag release ng retail CBDC at since mostly cash parin ang ginagamit ng mga Pinoy, then sa tingin ko it'd take them another year or two, to release a retail CBDC.

mukhang magkakadebate pa ito. maraming maimpluwensyang tae sa bansa na malamang ayaw nitong CBDC. kabilang na siguro ma-ari ng Gcash.

maraming proyekto sa Pilipinas na gusto i-nationalize at marami ring gusto privatized. sa dami ng gustong magnakaw sa kaban ng bayan, malaman ayaw nila nitong CBDC. sa tingin ko safe tayo sa survellance dito sa Pilipinas. Grin

SFR10

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Quote from: Sanitough on April 30, 2022, 06:36:29 AM

@SFR10, ang pangit naman kung ganyan, parang hindi rin makakatulong kasi mostly for internal or banking purposes lang ginagawa nila.

Ayon sa "article na ito ^{[huling paragraph]}", kailangan muna magkaroon ng "law or legislation" bago sila makapag release ng retail CBDC at since mostly cash parin ang ginagamit ng mga Pinoy, then sa tingin ko it'd take them another year or two, to release a retail CBDC.

Sanitough

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@SFR10, ang pangit naman kung ganyan, parang hindi rin makakatulong kasi mostly for internal or banking purposes lang ginagawa nila.

I thought it's something that would compete with crypto that although it's centralized but it can be used by anyone, just like the USDT or other stable coins. However, mabuti na rin ang ganyan para mas gumanda pa ang demand ng crypto sa Pilipinas.

SFR10

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Quote from: budz0425 on April 29, 2022, 10:25:17 PM

Para sa akin ok din naman, parang wala din pinag kaiba yan sa GCASH, Coins, Paymaya na anytime pwede mafreeze ang account.

Tama ka ^{[to an extent]} pero mas malaki ang influence nila with CBDCs dahil palaging in control sila, where as with the centralized exchanges/service, hindi ito palagi ang case unless you always keep your assets sa platform nila!

Based on "this press release", mukhang hindi sila maglalabas ng "retail" CBDC

Quote from: https://www.bsp.gov.ph/SitePages/MediaAndResearch/MediaDisp.aspx?ItemId=6252
Learnings from the pilot will be critical in constructing the BSP’s medium- to long-term roadmap for more advanced wholesale CBDC projects that shall further strengthen the Philippine payment system,” the Governor explained.
~Snipped~
In contrast to general purpose or retail CBDC intended for use of the general public, a wholesale CBDC is restricted mainly to banks and other financial institutions.

budz0425

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Para sa akin ok din naman, parang wala din pinag kaiba yan sa GCASH, Coins, Paymaya na anytime pwede mafreeze ang account.
siguro ito rin ang magiging paraan ng gobyerno para mapatawan ng buwis ang mga Crypto users, sa kasamaang palad baka magkatax na tayo. pero ok lang naman mag bayad ng buwis para din naman ito sa pilipinas. well tingnan nalang natin ano magiging resulta kapag implemented na ito.

Beparanf

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Quote from: cheezcarls on March 07, 2022, 05:33:42 AM

Source: https://bitpinas.com/regulation/bsp-to-pilot-central-bank-digital-currency-project/

Breaking development ito mga ka-tropa!

I am sure na meron kayung different opinions about implementing CBDC dito sa Pinas. Ewan ko lang if this is a good thing for the long term dahil centralized ito for sure like sa ibang countries. Although maraming advantages ito such as fast and secured payments, kaya lang wala tayu control dito dahil central banks mismo ang may full control at custody nito.

Ano sa tingin nyu? Long term effect mabuti ba tong CBDCs sa Pinas? Share your opinions here guys. Salamat in advance.

No choice naman tayo since Fiat nga matagal na natin tinatangkilik, Eto p kaya na new and improved version ng old fiat model natin na mapapabilis at mas madaling iregulate compared sa unli print at burn ng Fiat money. Mas eco friendly pati ito dahil malelessen na yung paggamit ng paper para sa printing kung halos lahat ay gagamit ng CBDC. Mas pabor ako dito kesa ipilit natin yung Bitcoin as currency sa bansa dahil walang pupuntahan yun since alam naman natin kung ano kalakaran ng pulitika sa bansa. Sana maimplement ito at mag success.

rhomelmabini

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Quote from: Dabs on April 20, 2022, 01:03:17 PM

We will a kung ano mangyayari. Sana lang tinanong ako kung pwede mag escrow ng ICO, hahahahah, then maganda diba (for me anyway.)

I doubt na mag attempt mga bangko ang outside entities pero who knows kung nagkaroon iyon noong una baka nga nagkaroon ka ng chance na maging escrow. Noong una napakalaki ng chance kasi few palang yung nag ICO hindi gaya ngayon na sobrang dami na at paunahan pa lalo sa mga launchpads.

arwin100

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Quote from: Dabs on April 20, 2022, 01:03:17 PM

A long time ago, nagtatanong ako kung gusto ba naten ng sarili naten coin... dati kasi meron PesoBit, pero yung mga founders nawala or it was mismanaged.

Then gumawa ako ng thread asking kung gusto parin naten ng parang country-coin, pero ngayon BSP mismo ang gagawa ng stable coin pegged to peso.

We will see kung ano mangyayari. Sana lang tinanong ako kung pwede mag escrow ng ICO, hahahahah, then maganda diba (for me anyway.)

Dati gusto ko na talaga makakita ng coin na sariling atin yung legal na tinatanggap ng gobyerno at magagamit natin kung saan natin gusto, pero dati gaya ng pesobit medyo shady din kasi lalo na pag random pinoy institution ang gumawa since alam naman natin na andaming scam na naganap lalo na dun sa pesobit kaya mahirap talaga magtiwala sa projects na gawa ng kababayan natin.

Pero kung gawa man ito mismo ng BSP e magandang balita ito dahil matitiyak natin na may malaking pundo na naka reserve dito at kaya e sustain nila ang operation at legality nito at malamang sa malamang maganda ang epekto nito sa iba pang crypto dahil dadami choice natin at lalawak ang sakop ng crypto dito sa pinas.

goaldigger

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Quote from: Dabs on April 20, 2022, 01:03:17 PM

A long time ago, nagtatanong ako kung gusto ba naten ng sarili naten coin... dati kasi meron PesoBit, pero yung mga founders nawala or it was mismanaged.

Then gumawa ako ng thread asking kung gusto parin naten ng parang country-coin, pero ngayon BSP mismo ang gagawa ng stable coin pegged to peso.

We will see kung ano mangyayari. Sana lang tinanong ako kung pwede mag escrow ng ICO, hahahahah, then maganda diba (for me anyway.)

Nung una parang ok na mag karoon ng ganito, pero ngayon nagdodoubt na ako kase most probably magiging centralized ito and di naten sure kung crypto ba ito or same lang ng fiat.

Anyway, di naman naten sila macocontrol so let’s wait nalang if itutuloy ba nila ang plano na ito or they are already working for the release of this one, unpredictable naman kase si BSP like yung new update nila sa 1k peso bill. Antay antay lang muna ng update sa ngayon.

Dabs

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A long time ago, nagtatanong ako kung gusto ba naten ng sarili naten coin... dati kasi meron PesoBit, pero yung mga founders nawala or it was mismanaged.

Then gumawa ako ng thread asking kung gusto parin naten ng parang country-coin, pero ngayon BSP mismo ang gagawa ng stable coin pegged to peso.

We will see kung ano mangyayari. Sana lang tinanong ako kung pwede mag escrow ng ICO, hahahahah, then maganda diba (for me anyway.)

Sanitough

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Quote from: qwertyup23 on March 07, 2022, 10:02:38 AM

Just to clarify, when you mean by CBDCs ito yung tokens na mismong yung BSP yung gumawa at mag rerelease no? So in a way, similar din siya to BTC pero ang pagkakaiba is ginawa nila mismo yun?

This is cash or a digital currency that is tide with the total money printed by the government.
Digital currency lang ito pero same parin siguro ng treatment sa cash na accounted rin, or every time mag add sila ng supply may approval dapat.
Ang pagkakaiba ng bitcoin sa CBDC ay yung bitcoin volatile, but CBDC stable coin ito or may fix value.

Quote from: qwertyup23 on March 07, 2022, 10:02:38 AM

To be honest, I think okay din naman na nagkaroon din yung bansa natin na may sariling token na mismong si BSP nag release. Pero in the long-run, it somehow defeats the purpose of decentralization- which is yung foundation mismo ng BTC and some cryptocurrencies.

Well anyway, anything that can somehow and indirectly support cryptocurrencies is definitely welcome kaya let's see where this goes!

Ang effect into ay education sa pagamit ng digital currency, pero in terms of payment services competition , mas panalo ito.

AicecreaME

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Looks like a trap to me.

I mean, I always stick to the saying na "never trust the bank" when it comes on storing your money. I'm a paranoid person kaya ang nakikita is you can't really freely cashout your money here, and holding a lot of their tokens could mean to something na tatanungin ka nila about where your money comes from and paano mo nagawang makakuha ng ganung halaga, etc...

I don't know, but hopefully their project would be good for all of the people who will adapt it.

blockman

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Para sa akin, parang wala din namang effect kahit magkaroon pa ng CBDC ang bansa natin kasi marami na din tayong mga wallets like gcash at paymaya na pwede din naman i-freeze yung mga funds natin. At pinagkaiba lang siguro talaga yung tawag.
Itong mga traditional methods, iba compare sa cbdc kasi parang pwede nilang ilinya sa crypto kahit na malayo naman ang pagkakaiba talaga sa crypto. At pagkakaalala ko parang may inanounce na dati yung Unionbank tungkol dito sa cbdc o stable coin.

crzy

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Quote from: SFR10 on March 09, 2022, 02:20:22 AM

Quote from: rhomelmabini on March 08, 2022, 04:55:28 PM

I think nasa last paragraphs ng article sa OP yung sagot, maybe the recent BSP-AFI Virtual Knowledge Exchange Program-3 (KX3) na just conducted last March 1 and nag trigger sa BSP na gumawa ulit ng hakbang para mag announce ng pilot testing sa nasabing proyekto.

Salamat pero that still doesn't answer the question kung bakit biglang nag iba ang stance nila while they've been denying it for the past few months.

Quote from: rhomelmabini on March 08, 2022, 04:55:28 PM

In the long run talagang magkaroon ng CBDC kasi ang ibang mga nasyon ay ganito rin ang ginagawa, we can't deny this fact.

That's true, but that doesn't mean na lahat ng papasok sa pilot stage, papasa... We already have a bunch of canceled and inactive ones at hindi ako magtataka to see the same thing happening to CBDCPh dahil mukhang nira-rush nila ito.

Every government is afraid of losing their people, and let them use decentralized system kase panigurado makakaepekto ito ng malaki and that’s why they are pushing for this one so they can offer services sa mga tao on a centralized way.

Nirurush nila ito kase unte unte nang namumulat ang mga Pinoy sa decentralized system, baka tuluyan ng iwan ang mga remittance center pagnagkataon, imagine OFWs are best export system naten at source ng dollar if malaman nila na pwede sila magtransfer gamit ang cryptocurrency, panigurado babagsak ang economy naten.

SFR10

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Quote from: rhomelmabini on March 08, 2022, 04:55:28 PM

I think nasa last paragraphs ng article sa OP yung sagot, maybe the recent BSP-AFI Virtual Knowledge Exchange Program-3 (KX3) na just conducted last March 1 and nag trigger sa BSP na gumawa ulit ng hakbang para mag announce ng pilot testing sa nasabing proyekto.

Salamat pero that still doesn't answer the question kung bakit biglang nag iba ang stance nila while they've been denying it for the past few months.

Quote from: rhomelmabini on March 08, 2022, 04:55:28 PM

In the long run talagang magkaroon ng CBDC kasi ang ibang mga nasyon ay ganito rin ang ginagawa, we can't deny this fact.

That's true, but that doesn't mean na lahat ng papasok sa pilot stage, papasa... We already have a bunch of canceled and inactive ones at hindi ako magtataka to see the same thing happening to CBDCPh dahil mukhang nira-rush nila ito.

rhomelmabini

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Quote from: SFR10 on March 08, 2022, 08:59:50 AM

Quote from: cheezcarls on March 07, 2022, 05:33:42 AM

Ano sa tingin nyu? Long term effect mabuti ba tong CBDCs sa Pinas?

It depends... Maganda ang impact nito sa government as a whole, pero hindi ito makakabuti sa end users in the long run dahil lalaki lalo ang influence nila sa atin ^{[e.g. any time pwede nilang i-freeze ang wallets natin]}.
^{- I wonder bakit biglang nag "U-turn" sila?}

I think nasa last paragraphs ng article sa OP yung sagot, maybe the recent BSP-AFI Virtual Knowledge Exchange Program-3 (KX3) na just conducted last March 1 and nag trigger sa BSP na gumawa ulit ng hakbang para mag announce ng pilot testing sa nasabing proyekto. In the long run talagang magkaroon ng CBDC kasi ang ibang mga nasyon ay ganito rin ang ginagawa, we can't deny this fact.

SFR10

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Quote from: cheezcarls on March 07, 2022, 05:33:42 AM

Ano sa tingin nyu? Long term effect mabuti ba tong CBDCs sa Pinas?

It depends... Maganda ang impact nito sa government as a whole, pero hindi ito makakabuti sa end users in the long run dahil lalaki lalo ang influence nila sa atin ^{[e.g. any time pwede nilang i-freeze ang wallets natin]}.
^{- I wonder bakit biglang nag "U-turn" sila?}

qwertyup23

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Just to clarify, when you mean by CBDCs ito yung tokens na mismong yung BSP yung gumawa at mag rerelease no? So in a way, similar din siya to BTC pero ang pagkakaiba is ginawa nila mismo yun?

To be honest, I think okay din naman na nagkaroon din yung bansa natin na may sariling token na mismong si BSP nag release. Pero in the long-run, it somehow defeats the purpose of decentralization- which is yung foundation mismo ng BTC and some cryptocurrencies.

Well anyway, anything that can somehow and indirectly support cryptocurrencies is definitely welcome kaya let's see where this goes!

cheezcarls

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Looking for gigs

Source: https://bitpinas.com/regulation/bsp-to-pilot-central-bank-digital-currency-project/

Breaking development ito mga ka-tropa!

I am sure na meron kayung different opinions about implementing CBDC dito sa Pinas. Ewan ko lang if this is a good thing for the long term dahil centralized ito for sure like sa ibang countries. Although maraming advantages ito such as fast and secured payments, kaya lang wala tayu control dito dahil central banks mismo ang may full control at custody nito.

Ano sa tingin nyu? Long term effect mabuti ba tong CBDCs sa Pinas? Share your opinions here guys. Salamat in advance.

Topic: Bangko Sentral ng Pilipinas to pilot CBDC project (Read 291 times)