12 Philippine companies that should really start accepting Bitcoin

It’s big news when a major corporation or non-profit, such as Wikipedia, starts accepting Bitcoin.  A number of people want to have more places to spend their bitcoins. So Tech in Asia spoke with entrepreneurs in the Philippine Bitcoin space on what companies they would like to see accept the cryptocurrency.

There were no restrictions placed on the people we surveyed – they could name an international company with a strong Philippine presence, or a local brand. The only real requirement was that the company could contribute to the growth of the cryptocurrency in some way. Perhaps the firm accepting Bitcoin would represent a public relations victory, tap into a market that is already tech-savvy, or introduce Bitcoin to the Filipino masses.

Here are their answers:

1. – 2. Cebu Pacific AIR and Philippine Airlines

The Philippines is famously trying to attract more tourists through the “It’s more fun in the Philippines” campaign, which is sponsored by the Department of Tourism. Sam Kaddoura, the co-founder and CEO of Bitcoin exchange BuyBitcoin.ph, thinks the country would be well-served by bringing Bitcoin enthusiasts into the country.

To do so, the Philippines would ideally have entire communities or business districts where Bitcoin is readily accepted, but Kaddoura thinks we first need to address inbound international travel. “If we really want bring in Bitcoin-spending tourists, why not equip one (or two) of the major domestic airlines to accept Bitcoin?” he suggests.

3. Globe

Globe is one of the two major telecommunications companies in the Philippines – the other being Smart. While Kaddoura thinks that it may not make sense to accept Bitcoin for all their products, he believes the cryptocurrency would work well for certain ones.

He cites the G-movie app as an example, which allows movie patrons to reserve seats in advance as well as pay for their tickets. Kaddoura argues that their current payment system is limited, as not every Filipino has access to a credit card.

“Filipinos love going to the movies,” he says. “If popular apps like this were to accept Bitcoin, it would add a more convenient payment option that is accessible to everyone, as well as spread awareness to a mainstream audience that this technology exists.”

4. – 5. LBC Express and M Lhuillier

Macoy Mejia, the CTO of Teravibe, the company behind Bitcoin wallet mBTC, thinks that courier services such as LBC Express and M Lhuillier should accept Bitcoin. Mejia believes that doing so will help both Filipinos living in the country as well as the Filipinos working abroad, who often send remittances to their families and friends back home.

“These are the services that our common households rely on, especially those who have relatives working far from their homes,” Mejia says. “Overseas foreign workers, expatriates, or even our yaya [domestic helpers] could save a lot of their hard-earned income if they can transact directly wherever they are.”

In other words, if these companies accept Bitcoin, Filipinos don’t have to waste their time and money to commute to a brick-and mortar location.