Philippines' SCI Group launches Bitcoin wallet storage service

John Bailon, co-founder and CEO of Satoshi Citadel Group ( SCI ), was interviewed by the Bitcoin community last night.

    He said that those who claim that digital virtual currency is a new type of pyramid scheme are extremely wrong. He further explained: "Now there are more and more scams trying to put on the cloak of Bitcoin and claim to be some new way to get rich quickly. In fact, the victims of these online scams have not purchased or invested in Bitcoin."

John Bailon also said that the use of Bitcoin is legal in almost all countries in the world, of course, Bolivia and Ecuador are exceptions, because according to previous reports, these two countries already have their own digital virtual currencies. In addition, he also talked about the correlation between illegal activities such as money laundering and drug trafficking and digital virtual currencies.

John Bailon also announced the company's new mobile payment application. By using this application, users can store their property conveniently and quickly through their smartphones. In addition, this new payment application will also support Bitcoin storage, which will make it easier for customers to accept funds from all over the world.

    In April this year, SCI's buybitcoin.ph exchange became the first bitcoin exchange in the Philippines, allowing customers to trade bitcoin directly online through the platform.