[Executive Edge] Filipino bitcoin CEO wants to change how we use money

By Ezra Ferraz, rappler.com

Experts often predict that the “cryptocurrency” known as Bitcoin will become hugely popular in the Philippines. Still, Bitcoin remains largely unknown to the average Filipino, which shows that its adoption will come down to the quality of the companies that introduce it to the Philippine market.

BuyBitcoin.ph is one such company, headed by balikbayan co-founder and CEO Sam Kaddoura, along with founders Lasse Birk Olesen (CPO), Daniel Walton (CTO), and James Florentino (UI / UX Designer). Kaddoura describes the platform as “a peso to bitcoin ‘over-the-counter’ exchange allowing Filipinos direct access to buying and selling bitcoins.”

Kaddoura continued, “As the popularity of bitcoin increases and it becomes more widely accepted as a currency, the bitcoin exchange model will play a crucial role in providing a foundation for both individuals and local businesses in the Philippines bitcoin economy to flourish.”

In other words, such exchanges are important for they work both ways. They allow individuals and merchants to buy Bitcoin when necessary. On the flipside, they also allow them to “cash out” their Bitcoin for fiat money – the Philippine peso.


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