Panel Discussion No.

Date: October 25, 2016

A. Topic: Regulation of bitcoin usage in the Philippines

B. Title: Bit by Bit: Pros, Cons, and Coins
C. Focus Question: Should bitcoin usage be banned or regulated in the Philippines?
D. Moderator: Ma. Steffi V. Nucum

E. FLOW:
I. Introduction:
Hook:
Focus Question: Should bitcoin usage be banned or regulated in the Philippines?
Introduction of Panelists:
Name

Sam Kaddoura (CEO, Satoshi

Citadel Industries)
Augustus Santos
Jun Ramos (OFW, Bitcoin User)
Nestor A. Espinosa Jr. (BSP
Governor)
Congressman Edward Maceda
4th District Manila

Role
Bitcoin Expert
Philippine Economist
Bitcoin User
BSP Governor
Congressman

Brief overview: We will try to answer the focus question by

II. Background
To bitcoin expert:
What is bitcoin?
How did it originate?
To Philippine economist:
What is the status of bitcoin usage worldwide?
In the Philippines?
M: Thats surprising...
III. Pros
To Philippine economist:
Why do you think Filipinos embrace bitcoin usage?
1. Consumer
Remittance
2. Businessman

Marketing
Faster transactions with other countries
To bitcoin user:
Do you experience any of these?
No additional fees
Aside from those, why do you choose to use bitcoin?
saves time
Security; no identity theft
To bitcoin expert:
Does bitcoin usage also provide advantages for innovation and technology?
M: Considering the points most of you gave a while ago, it seems that bitcoins have many
advantages for various sectors in the country. However, the BSP issued a warning advisory on
virtual currencies last March 2014.
IV. Cons
To BSP chairman:
Can you explain that more fully, Mr. Espinosa?
*State cons:
1. No one to be accountable for
2. Volatility
To congressman:
Do you see other potential harms of the increasing bitcoin usage in the country?
3. Avenue for illegal transactions
4. Add the problem with taxation, currency or commodity
*Add si Bitcoin expert
To bitcoin user:
Do you experience these disadvantages?
V. Focus Question
M: Our dearest viewers, currently, we had already gave a background of what bitcoin is, its
advantages and disadvantages. Now, I will ask each of the panelists about their opinion on
whether bitcoin usage should be banned or regulated in the Philippines. But first, let us clarify
To BSP chairman:
What do we exactly mean by regulating bitcoin usage?
To each of the panelists:
Should bitcoin usage be banned or regulated in the Philippines?
M: Since most of you said that it should be regulated with the condition that the regulation
policies are effective
V. Recommendations

To Congressman:
What are the policies or laws you can recommend to effectively regulate bitcoin usage in
the country?
1. legal definition
2. creating a governing body
3. regulation or checking of transactions
4. (taxation) commodity or currency
To others:
Any more recommendations?
*Add si bitcoin expert
VI. Conclusion & Open Forum