Future Finance
Blockchain Offers Rural Philippine Banks a Way to Boost Loans
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Blockchain technology offers an opportunity for smaller banks in the Philippines to boost lending and offer other financial services in rural areas, according to Union Bank of the Philippines Chairman Justo Ortiz.
Union Bank is experimenting with the use of blockchain for remittances, allowing overseas Filipino workers to send money home quickly and efficiently and exercise greater control over who receives the funds and how they’re used, Ortiz said in an interview with Bloomberg Television on Tuesday.