Challenges in Bitcoin adoption in the Philippines discussed by payments executive.

The Bitcoin (BTC) community has come a long way, but adoption may still be in its early stages in some parts of the world. At the BTC Prague event, Joseph Hall interviewed Ethan Rose, the founder of Pouch, a wallet service that supports the Bitcoin Lightning Network in the Philippines. They discussed the state of adoption in the country and how the Pouch team is trying to introduce Bitcoin to merchants on the popular tourist island of Boracay.

Rose stated that they have onboarded around 250 businesses within the island and 400 businesses in the country. The team is promoting Bitcoin adoption by offering merchants another way to attract customers.

However, the executive explained that introducing Bitcoin to people is still a challenge. He stated that it’s hard to convince someone on the fly to switch their mental model of what money is. He also expressed concern that businesses may not get any sales from accepting Bitcoin if there aren’t enough spenders.

Rose reiterated that it’s crucial for businesses to have a good experience when they accept Bitcoin, as they may abandon the endeavor if it doesn’t bear any fruits.