Philippines plan to use digital tokens for partial cash replacement

The Central Bank of the Philippines considers the possibility of using digital token to reduce the turnover of paper money and increase efficiency.

According to the control board of Benjamin Diocino, digital tokens will help reduce the cost of financial services provided to citizens, expand coverage and reduce the amount of cash.

The Central Bank also studies the prospects for issuing a national digital currency, as well as the potential consequences of its impact on the economy and the political sphere of the country. In June, the Philippines have already launched a blockchain-platform to disseminate government bonds.

While most countries are studying the prospects for using digital currencies, the Bahamas will launch their «

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