PURE POUND, an innovative payment network that promotes the use cryptocurrency or digital currency, was launched at SMX Convention Center in Bacolod City Saturday, May 5, in the presence of their biggest investor, Sultan Shariff Ibrahim Albani, a financial engineer representing their corporate investors.
Pure Pound uses peer-to-peer technology to operate with no central authority or banks.
"This method uses technology. We support Pure Pound as this promotes cyber currency. If we still stuck with the old and manual currency, we cannot see the whole picture in the world and we cannot compete and grow with the other developed countries. Like Mindanao, we are lagging behind in terms of government support and also the use of technology. We need to ride with the digital currency because this can reverse the economy of the Philippines," Albani said.
Pure Pound is a utility token where points are earned when a consumer buys. The points earned can either be traded or be converted to cash.
Albani has invested P30 million to Pure Pound.
"We want everybody to adopt this platform as this promotes cryptocurrency," he added.
