Hey Ana… lack of infrastructure is indeed one of the hindrances in widespread adoption of Blockchain & Cryptocurrencies in the developing countries, but the bigger problem has been the regulatory concern by the Financial authorities. Talking about Philippines, the central bank, Bangko Sentral ng Pilipinas (BSP), has recently approved applications filed by two new cryptocurrency exchanges. BSP announced the potential of the digital currencies where the conversion from fiat currency peso to cryptos has been on the rise steadily. This is on the back of the recent announcement of the Philippines government to allow 10 blockchain and crypto companies to operate in the Cagayan Economic Zone.

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