As the Philippine economy continue to provide more opportunities for the Filipinos, the earning capacity of our population has improved through the years. However, it is a well-known fact that increase in income does not always equate to financial empowerment and preparation if not coupled with proper financial education. Further achieving success is not just about financial empowerment but rather empowerment in the many other facets of life.

On September 29, 2018, I will once more organize an empowering conference to help attendees properly prepare for their future. The event is aptly called “Build Your Future” and this particular event is intended for the young professionals  through a practical and engaging half-day learning event.

I am so privileged to be joined by three amazing individuals who will all help the conference participants ‘build’ their future through the sharing of their expertise:

Ardy Abello on TOP PERFORMANCE: How to Become the Best Version of Yourself

Ardy Abello is one of the country’s leading motivational speaker and a John Maxwell and Strengths Finder certified trainer. He is one of the most sought after speakers and coaches on productivity, leadership and success.

Dennis Sy on BUILD A BETTER FUTURE: Doing Social Good to Build a Better Future

Dennis Sy is a a best-selling author and leading influential blogger and vlogger on manhood and life principles. He is the senior pastor of Victory Green Hills, a church which gathers 4000 attendees weekly.

Gabbie Tiongson on MOVING FORWARD: Designing Your Life Plan with Meaning

Gabbie Tiongson was student leader and a licensed teacher but has decided to focus on empowering students as a campus missionary. She believes in investing in the next generation.

The event will be from 1 to 6pm and will be held at the Samsung Hall, SM Aura, Taguig City.

Here’s why you should attend this life-changing event — the fee to this event is only P500.00 and it comes with my book Build Your Future Today worth P500.00! Slots are going fast so it is best if you sign up and pay to secure your slot because slots are running out fast!

To register, visit www.bit.ly/BYF2018

In one of my posts in my Inquirer column, I answered some of the common questions on bitcoin in particular and cryptocurrencies in general. That emanated from one single question I received from a Facebook follower: “Should I invest in bitcoin?” Read post HERE

Cryptocurrencies such as bitcoin are – unlike fiat currencies – digital currencies built on a decentralized ledger called blockchain. Although some countries allow cryptocurrencies as payment for, say, taxes, I should again have to reiterate that cryptocurrencies are, unlike fiat currencies, not regulated by a central authority such as governments’ central banks.

Because of the meteoric rise of bitcoin prices (and may I add, intermittent dive), the brave and bold are lured to try their luck in cryptos. Unfortunately, also lurking in the market are bad actors such as scammers and imposters ready to pounce on inexperienced investors.

Thus, if you are bent on investing in cryptocurrencies, it is important that you take your security into your own hands.

How then can you avoid being scammed?

If someone tells you that they can invest your bitcoin for you, say NO!

If you are interested to invest in cryptocurrencies, do so yourself. Do not add another layer of risk by getting someone to handle the investing for you. You should be ready to do the heavy lifting at the start: By studying the technology behind cryptocurrencies, risks involved, pitfalls, and mechanics that range from setting up and securing your digital wallet to online trading.

Don’t want to learn? Prices of cryptocurrencies are highly volatile. If you do not have the will to study what you are getting into, then better bring your money to traditional havens where you have a deeper knowledge of, such as real estate or mutual funds.

 Always remember this: Never invest in something you do not understand!

 If someone promises a hefty profit, BEWARE!

Today’s scam techniques have become more sophisticated as these combine the multi-level marketing scheme with the sexiness of bitcoin (or gold, or whatever form of asset is the “in thing” these days).

A recent example is the case of the Filipino couple who syphoned off P900 million from those who invested in their “bitcoin investment” company after being promised up to 30 percent cashback in 16 days.

That promise ensnared a lot of clients.

Fact check: The company was later found to be registered as a computer shop, and therefore not authorized to engage in trading. The couple employed a referral system – specifically, the pyramiding scheme – in their scam.[1]

Note that in most countries, bitcoin per se is not a scam. It is the method employed by fraudsters (such as when a “business” earns money through referral links and not through legitimate operations or products) that gives bitcoin a bad rap among the uninitiated.

Do not base decisions to buy/sell coins or tokens mainly on social media tips or just because there are sudden price hikes.

This year, the US Securities and Exchange Commission and US Commodity Futures Trading Commission have advised customers not to purchase virtual currencies, digital coins, or tokens based on social media tips or sudden price hikes.

The noise from social media is not an indication of the soundness of an investment. Neither is a sudden price hike an indication of a bullish streak. As shown by bitcoin’s pricing history, crypto prices are volatile.

Learn how to protect yourself from becoming a phishing victim.

Although the cryptocurrency market is still nascent, there are today a number of registered, responsible and compliant businesses that offer cryptocurrency-related services such as exchanges, wallets, and new coins or tokens through initial coin offerings (ICOs) and token sale.

That said, because bitcoin (or more accurately, blockchain) is the latest tech darling, online scammers are not far behind. These can be tech-savvy ones who use social media to direct victims to fake websites. Phishing involves getting a user to enter personal information via this fake website. Here, phishing scams trick you into giving out personal information (such as your digital wallet’s private key).

Want to sift the best ICOs (i.e., the ones with long term value) from the substandard ones? Do your homework. Do it the old-fashion way: RESEARCH.

Do not base your decisions purely on what social media says. Instead, do a background check on the ICO or token crowdsale. Review and analyze the offerors’ whitepapers and business models. Check how they are rated by listing sites. Check their github (Github.com), if public, for their level of engagement in the developer community. Investigate the expertise of the executive teams.

This list of suggestions is not all-encompassing as there are more best practices to follow once you have started creating your digital wallet (if you don’t know what this term is, it just means you still have a lot to learn about crypto investing). It goes without saying that since cryptocurrencies are traded online, it does help if the interested investor is at least a technophile.

Shout-out to Traxion.Tech CEO Ann Cuisia for some of the input here on cryptocurrencies. Her team is leading a project that aims to transition people, business, and governments to a crypto-ready society via an open source inter-Blockchain ledger platform using Hyperledger Fabric.

[1] http://cnnphilippines.com/news/2018/04/10/bitcoin-scam-pnp.html

What is the future of financial services? Are we really heading towards a cashless society or is it all hype?

Understanding technology like blockchain can change the future is important for proper financial planning. However, understanding it and its many applications such as cryptocurrencies will require due diligence and enough education. If you are thinking about investing in these trend, we highly recommend that you get proper education about it first. As we always say: “never invest in something you do not understand.”

It is our vision that Overseas Filipino become empowered and we believe that practical education is critical to attain such vision. In this regard, we are organizing a eye-opening seminar called “The Future of Money: Understanding Blockchain and Cryptocurrencies” on July 5, 2018 in Abu Dhabi and July 6, 2018 in Dubai.

*Please note that we are not endorsing cryptocurrencies, our intention is to educate.

Joining me in this event is Ms. Anna Cuisia, the CEO of a pioneering financial technology companies like Traxion Tech.

Who is Anna Cuisia? With 20+ years of information technology experience, Anna Cuisia  has led several women startup founders. Prior to serial entrepreneurship, she has advanced in the corporate scene of banking and finance and have spent good number of years in payments and fundraising. She has been a pioneer in the Philippines for helping non profit organization achieve its digital transformation and online giving facilities. She is passionate about social impact and is now leading the whole TraXion direction on blockchain for the common good.

She has strong experience in Business Process Optimization, IT Consulting, Sales and Project Management for various industries including Banking, Retail, Real Estate and even Non-Profit Organizations.

For details and registration, please click HERE or send an email to dubaifinancialevents@gmail.com