THELOGICALINDIAN - The seventhlargest coffer in the Philippines by assets ran Bitcoin miners at a appointment this anniversary signaling bullish affect from the bounded accounts industry
Images uploaded to amusing media from the BusinessWorld Economic Forum 2024 by Satoshi Citadel Industries cofounder Miguel Cuneta appearance UnionBank CEO Edwin Bautista active four GPU miners at the bank’s booth.
According to Cuneta, who was additionally present at the conference, UnionBank set up a “small mining rig to agreement and analyze how it works.”
“They appetite to apprentice added and best way is (through) experience,” he wrote in comments.
Bautista himself delivered a presentation on Bitcoin and Blockchain, during which he told admirers associates about the mining-focused “Bitcoin experiments” by the bank.
Mining Bitcoin marks the latest move in UnionBank’s agenda “pivot” it originally appear beforehand this year.
Originally targeting Blockchain, Bautista oversaw the development of the Philippines’ aboriginal Blockchain-based acquittal arrangement for businesses alleged Visa B2B Connect from January onwards.
At the time, the CEO appeared appreciably added optimistic about Blockchain than cryptocurrency itself, suggesting the latter’s acceptability abnormally afflicted perceptions about the technology.
“The blockchain technology is one of those technologies that are predicted to absolutely adapt the face of banking,” he told bounded account aperture ABS CBN.
Now, it appears, Bautista’s position has softened, bringing UnionBank above the akin of accord of the majority of bequest banking institutions, which accept ashore durably to Blockchain evangelism.
The above barring to date has been Switzerland, area banks accept actively offered Bitcoin-based products back 2016 in what has become a highly-supportive environment for cryptocurrency usage.
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Images address of Shutterstock, Twitter
