Owing to such characteristics, blockchain and distributed ledger have attracted considerable attention, since international forums are focusing on their potential to be applied to wide-ranging businesses and practices. The application of those technologies would also change the structure of the financial infrastructure that has been built around centralized ledgers managed by trusted third parties.
As of end November 2020, the country’s gross international reserves, or GIR, hit an all-time high of $ billion, which is three times the import requirements of the country. In addition, the peso was supported by the gradual recovery in external accounts such as foreign direct investments (FDI) and overseas Filipino remittances.