Daily Crypto Positivity with @jgullinese

In Today's chapter of Daily Crypto Positivity with @jgullinese we find ourselves in the Philippines.

It was recently announced that five banks, (the banks names were not released), in the Philippines are going to start using Visa's new blockchain platform in order to provide more efficiency when it comes to processed payments. Union Bank of the Philippines, owned by conglomerate Union Bank, will be using Visa's B2B Connect system. The B2B system was unveiled back in November of last year. It was designed to, "ease cross-border payments by allowing payments directly between institutions, thus cutting out the middleman."

According to Henry Rhoel Aguda, UnionBank's senior executive vice president and chief technology and operations officer, "We want to grow from four right night to as many as we can support."

This is big news. If this is successful, I could definitely see this spread like wildfire. If cutting out the middleman, their words, is a possibility, transactions will begin to run seamlessly.

Blockchain technology is not only revolutionizing the crypto world, but the world as a whole. Anything that needs information to be scaled and concise will benefit. Once bigger institutions realize its ability and value, they won't snub their noses at it anymore. Thus, cryptocurrency and the blockchain in general will not be as taboo.

Let's keep this positivity train rolling!

If you are looking for a link to the article, you can find it here:

https://www.coindesk.com/philippines-banks-use-visas-blockchain-payments-platform/