Hong Kong-based ICO advisory firm TokenNews opens Philippine office
With the government's openness coupled with the country's bullish economic outlook, a Hong Kong based ICO advisory company, TokenNews HK Ltd., entered recently the Philippine market.
Buoyed by the prospects of good business as the country aligns itself in the world of blockchain and cryptocurrency, TokenNews Philippines, a branch of Token News Hong Kong, will be headquartered at the Bonifacio Global City (BGC), Taguig City, Metro Manila, dedicated to spreading and propagating knowledge and understanding of cryptocurrency among Filipinos, focused not on how much is the prices to the dollar of digital money but as a nascent technology that brings many benefits to a country and its citizens.
TokenNews Hong Kong chose the Philippines as the location of its branch in Southeast Asia for many good reasons.
Yuki Takarabe, consultant and head of TokenNews Philippines, cited many reasons. First, 1/3 of the Philippine population which the United Nations estimated at 106 million in 2015 is comprised of millennials (the generation that drives and uses emerging technologies). In contrast, Takarabe said, his country Japan has an ageing population with the old people outnumbering the young because of low birth rate, and young Japanese do not like to marry.
Second, the Philippines is noted for its English-speaking population, which makes doing business easier, compared to other countries. Because of these advantages, Takarabe is also planning to establish its own business process outsourcing (BPO) office here.
The Philippines' 6.9 percent Gross Domestic Product (GDP) growth (while Japan has 1.0 percent GDP growth), Takarabe thinks the Philippines could become an economic power in 5 to 10 years, while the United States and Europe have already reached their peaked. The Philippines has much space to reach the top, he said.
Following the coming of foreign companies engaged in blockchain and cryptocurrency products and services with the opening of the Cagayan province in Northern Luzon, TokenNews also wants to contribute through leveraging new technologies in making the Philippines great again.