Token News Philippines officially opens for business on ICO consultancy, others

Led by CEO Yuki Takarabe, 28, Token News Philippines has officially opened for business, namely for consultancy on initial coin offering (ICO), and other related matters.

Takarabe launched the branch of Token News HK Ltd., a highlight of the Token News Conference 2018 held on August 27 at Okada Hotel Manila, Entertainment City, Parañaque City, Metro Manila.

Hundreds of participants from Japan, Philippines, and other countries in the blockchain and cryptocurrency world joined the event, as the Hong Kong-listed company also introduced to Filipinos seven of its partner-projects in the financial technology (fintech) world.

They are Unaity; Coincome; Angelium; Infinito Wallet; Mining Data Lab; Quanta; and Acute Angle Cloud. The seven firms had exhibits at the venue.

Through Takarabe, Token News has actually been in the country since early this year. Its branch in the Philippines serves as its management and consultancy group for Filipinos as well as foreigners based in the Philippines who want to go into the business of blockchain technology and cryptocurrency

With the government’s openness coupled with the country’s bullish economic outlook, the Hong Kong-based ICO advisory company, Token News HK Ltd., entered the Philippine market.

Buoyed by the prospects of good business as the country aligns itself in the world of blockchain and cryptocurrency, Token News launched its Philippine branch to cater to ICO needs in the country.

Takarabe and the executives of their partners met the members of the Philippine media and a Japanese reporter during a press conference before the main program opened the resort hotel and casino’s Grand Ballroom.

Token News Philippines is based at the Bonifacio Global City (BGC), Taguig City, Metro Manila. The firm will be dedicated to spreading and propagating knowledge and understanding of cryptocurrency among Filipinos, focused not only on the aspect of investment but as a nascent technology that might bring many benefits to the people and to the country as a whole.

Token News Hong Kong Ltd. chose the Philippines as the location of its branch in Southeast Asia for many good reasons.

According to Takarabe, one-third (1/3) of the Philippine population are millennials (born 1981-1996, 22-37 years old), the generation that drives the use emerging technologies.

Likewise, he said, the Philippines is noted for its English-speaking population, which makes doing business easier, compared to other countries in South East Asia, an important consideration every investor are looking into. Takarabe even mentioned that because of this, he might establish Token News’ own business process outsourcing (BPO) office in the country.

Another advantage, Takarabe mentioned, is that the 6.9 Gross Domestic Product (GDP) of the Philippines is a very good indicator that the country 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 added.

Following the coming of foreign companies engaged in blockchain and cryptocurrency products and services through the Cagayan Economic Zone Authority (CEZA) and its partners with the opening of the Crypto Valley of Asia (CVA), in Northern Luzon, Token News also wants to contribute through leveraging new technologies in making the Philippines great again.

Takarabe said Token News engages in crypto-media activities through seminars and workshops; provides consultancy to companies doing ICO and help them listed in exchanges in various countries; mining of cryptocoins; and development of tokens. Token News also have its own lawyers and experts who can help blockchain and crypto companies promote their services and get listed in crypto exchanges across the world.

Takarabe said educating the public on ICOs is very vital as he acknowledged that not all of companies conducting ICOs are legitimate, “there are really scams happening in the cryptocurrency world,” he added.

Such developments become an eye-opener for governments, prompting some countries to start taking notice of cryptocurrency and creating laws. When there are laws, the operation of exchanges and their transactions will become safer and easier.

“If laws on cryptocurrency are in place, the low usage will increase and becomes safer. It will then rise. And because of the laws fake or fraudulent ICOs will be filtered out and caught,” he said.

With these many developments, plus the increasing technology use cases, Takarabe thinks that blockchain and cryptocurrency will spread rapidly and people investing in cryptocurrency will rise accordingly.