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Chapter 1

THE PROBLEM AND ITS BACKGROUND

Introduction

Cryptocurrency is an easy way process to pay or to earn money through the use of

mobiles. It makes it easier for two parties to transfer funds in online transaction without

the need of trusted company such as bank or credit cards. It is essentially a sort of digital

or special virtual currency that uses cryptography for the security. A Cryptocurrencies are

designed to be capable of replacing money it can also serve as your guide in spending

your cash.

Cryptocurrency was never been proposed to be designed. It is all begun as a result

of the infamous Bitcoin and a man named Satoshi Nakamoto. The objective of Nakamoto

at the outset was to make an electronic peer-to-peer cash system. They had been

endeavoring to make the framework for quite a while; it generally comes up short due to

the issues with centralization. Satoshi Nakamoto questioned to have another endeavor at

building an online centralized cash system for it might cause another disappointment.

However, Nakamoto chose to make digital cash system that had no centralized authority.

Thus came the introduction of the Bitcoin. Indeed, Satoshi Nakamoto imagined the

Bitcoin, the plain previously decentralized type of computerized money that had no

central governing or controlling body. Nakamoto made the Bitcoin in 2008 and its esteem

detonated beyond a shadow of a doubt. A while ago when it was first made, it had an

estimation of minimal over a single penny. In any case, the esteem rapidly developed and

in late 2009 had just achieved $27 for a single Bitcoin. Presently, in 2017, a single
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Bitcoin has an estimation of over $7,500 hence; the estimation of this specific digital

money has skyrocketed to monumental levels.

Cryptocurrencies have actively made headlines in recent months due to the rise in

popularity. As more people adopt new way of transferring value of cash, all types of

marketplace are being disrupted. The adoption of Blockchain technology and the

innovative products built on top of it, namely digital assets or Cryptocurrencies and

similar to the value exchange mechanisms, are gearing towards dramatically changing on

how we transact in our day to day life. Disrupting the entire financial industry is already a

major effect of the rise of Cryptocurrency. (Forbes, 2018).

According to Hanai, as economists predict an impending economic crisis,

Cryptocurrency could either play a bigger role in international currency, or it could fall

into decline. Until now, it has been easy to scoff at the cryptocurrency boom, or ignore it

if you were not interested. But as the rally has spread from the bitcoin to the other coins,

from those other coins to companies touting links of cyptocurrencies. And potentially

soon, those companies bidding for resources in the real economy we are going to see the

impacts of Cryptocurrencies to the real economy (Chang, 2017).

This modernism seems very new to the knowledge of people, perhaps they

encountered it but usually they had no idea about this modern type of money transfer.

According to Dunn, for the starters, most people know little or nothing about the

transaction in cryptocurrency. Fewer people truly understand how bitcoin and other

cryptos work, and even fewer still managing to understand what is the game-changing

benefits and risk of cryptocurrencies to their money.

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These transactions are possible through the use of public keys and private keys for

the security purposes of the user. In cryptocurrency system the user’s “wallet” or account

address has its own public key and private key to sign this transaction. One of the

features of Cryptocurrency is that it does not require an agent, papers or other documents

like traditional currency does. When cryptocurrency is created, a transactions are stored

in a public ledger. All identities of coin owners are put into code to ensure the legitimacy

of record keeping. Because if the currency is distributed, the individuals own it neither

government nor bank does not have any control over it. The overall budget is inevitably

moving towards a digital currency. From investment to the money transfer, everything is

going paperless. The newest and most promising addition to the digital payment sector is

cryptocurrency.

Generally, people tend to think that cryptocurrency has no benefits, negative

effects are always the common feature of cryptocurrency to the people, whether we focus

on the potential harm or the benefits of the crypto revolution could have, we can no

longer deny bitcoin and related technologies are impacting the economy in tangible ways.

The transformation, however, is just getting started. There are likely many more changes

to come. (Matthews, 2018).

Financial Management has been the problem of many people. Since, we are in the

21st century having new innovation of technologies can help to handle our money.

cryptocurrency is good for each individual to preserve the safety of their money. Around

2 billion people worldwide do not have a bank account, and in many countries around the

world, businesses still cannot accept credit card payments.

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For people in these typically less developed countries, crypto offers a way to

engage with the global internet economy. It could be especially helpful to migrant

workers who send money home to their family at home while working abroad. Currently,

these workers must pay fees that average 9 percent to transfer the money through

international financial institutions. If using crypto, they could do it for free. (Matthews,

2018).

The purpose of this research is to identify the effects of cryptocurrency and

understand why people are still using cryptocurrency even though there are different

ways to carry out our funds, such as public and private banks.

Statement of the Problem

This study aimed to determine the effects that are usually met by the selection

when using cryptocurrency. This is a viewpoint to come up with guidance to improve the

risk of using cryptocurrency.

Specifically, the study focused on the following;

1. How may the selection be described in terms of:

1.1 age;

1.2 gender;

1.3 educational attainment; and

1.4 frequency of using cryptocurrency?

2. What are the benefits of cryptocurrency to the selections?

3. What are the problems encountered by the selections in using cryptocurrency?

4. How do the selections address the problems met in using cryptocurrency?

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Objectives of the Study

The main purpose of this study is to determine the experiences met by the selected

residents of Camiling, Tarlac on using cryptocurrency.

The specific objectives are as of follows:

1. To identify the general profile of the selection in terms of:

1.1 age;

1.2 gender;

1.3 educational attainment; and

1.4 frequency of using cryptocurrency;

2. To determine the benefits of cryptocurrency to the selection;

3. To identify the problems met by the selections when using cryptocurrency; and

4. To identify how do the selections address these kinds of problems in using

cryptocurrency.

Significance of the Study

The result of this study will benefit the users of cryptocurrency, as well as the

students and the future researchers.

To the Users of Cryptocurrency. This may help them use this study to improve

their usage of cryptocurrency and to avoid unnecessary things.

To the Students. This will provide information to become aware about the effects

of cryptocurrency, not only to the students who plan to use cryptocurrency in the future

but also to those who are interested.

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To the Future Researchers. This study will be their guide in accomplishing their

research that has something to do with Cryptocurrency. It can help them to understand

more the topic that will be needed for their research.

Definitions of Terms

The following terms are defined in this study to harmoniously provide a common

frame of reference:

Bitcoin. It refers to a type of digital currency in which encryption techniques are

used to regulate the generation of units of currency and verify the transfer of funds,

operating independently of a central bank.

Block chain. It refers to a digital ledger in which transactions made in bitcoin or

another cryptocurrency are recorded chronologically and publicly.

Cryptocurrency. It means a digital asset designed to work as a medium of

exchange that uses strong cryptography to secure financial transactions, control the

creation of additional units, and verify the transfer of assets.

Cryptography. It refers to the practice and study of techniques for secure

communication in the presence of third parties called adversaries.

Private Keys. It refers to a cryptographic key that can be obtained and used by

anyone to encrypt messages intended for a particular recipient, such that the encrypted

messages can be deciphered only by using a second key that is known only to the

recipient (the private key).

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Public Keys. It refers to a cryptographic code that allows a user to receive

cryptocurrencies into his or her account. The public key coupled with the private key are

significant tools required to ensure the security of the crypto economy.

Virtual Community. It means the social network of individuals who interact

through specific social media, potentially crossing geographical and political boundaries

in order to pursue mutual interests or goals.

Virtual Currency. It refers to a type of unregulated, digital money, which is

issued and usually controlled by its developers and used and accepted among the

members of a specific virtual community, it is also called “Virtual Money”.

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Chapter 2

REVIEW OF RELATED LITERATURE AND STUDIES

Reading of related literature and studies has beneficial purpose. It gives the

researcher and those who read the chapter new insights and concepts that rejuvenate and

enrich professional growth. This chapter presents the readings, articles and studies which

have bearing on the study.

Related Literature

A. Foreign

One interesting aspect of the fast-growing cryptocurrency market is the fluidity of

the terms used to describe the different products that fall within its ambit. While the

various forms of what are broadly known as “cryptocurrencies” are similar in that they

are primarily based on the same type of decentralized technology known as Blockchain

with inherent encryption, the terminology used to describe them varies greatly from one

jurisdiction to another. Some of the terms used by countries to reference cryptocurrency

include: digital currency (Argentina, Thailand, and Australia), virtual commodity

(Canada, China, Taiwan), crypto-token (Germany), payment token (Switzerland), cyber

currency (Italy and Lebanon), electronic currency (Colombia and Lebanon), and virtual

asset (Honduras and Mexico).

One of the most common actions identified across the surveyed jurisdictions is

government-issued notices about the pitfalls of investing in the cryptocurrency markets.

Such warnings, mostly issued by central banks, are largely designed to educate the
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citizenry about the difference between actual currencies, which are issued and guaranteed

by the state, and cryptocurrencies, which are not. Most government warnings note the

added risk resulting from the high volatility associated with cryptocurrencies and the fact

that many of the organizations that facilitate such transactions are unregulated. Most also

note that citizens who invest in cryptocurrencies do so at their own personal risk and that

no legal recourse is available to them in the event of loss. (Staff of Global Legal

Research Directorate, 2018)

Cryptocurrency is a subset of the class of digital currency (Lee, 2015) but it has

become an important type of digital currency. Unlike other digital currencies that can be

centrally issued, circulated within a community or geographical location, or tied to fiat

currency or the organizations issuing them, cryptocurrency has very different

characteristics. The Blockchain technology used by cryptocurrency, such as Bitcoin, is an

open distributed ledger that records transactions. This solves the double-spending

problem and does not require a trusted third party. Decentralization allows the

Blockchain technology to have increased capacity, better security, and faster settlement.

Some of these features are at the top of the list of shortcomings of traditional financial

systems. As a result, Blockchains and cryptocurrencies have become two of the most

pressing topics in the financial industry. In this article, we focus on the diversification

role of cryptocurrencies and explore the possibility that they may generate new

investment opportunities based on historical data. (Chuen, Guo, and Wang, 2018)

Cryptocurrencies aspire to be a new form of currency and promise to maintain

trust in the stability of their value through the use of technology. They consist of three

elements. First, a set of rules (the “protocol”), computer code specifying how participants
 10

can transact. Second, a ledger storing the history of transactions. And third, a

decentralised network of participants that update, store and read the ledger of transactions

following the rules of the protocol. With these elements, advocates claim, a

cryptocurrency is not subject to the potentially misguided incentives of banks and

sovereigns.

In terms of the money flower taxonomy, cryptocurrencies combine three key

features. First, they are digital, aspiring to be a convenient means of payment and relying

on cryptography to prevent counterfeiting and fraudulent transactions. Second, although

created privately, they are no one’s liability, ie they cannot be redeemed, and their value

derives only from the expectation that they will continue to be accepted by others. This

makes them akin to a commodity money (although without any intrinsic value in use).

And, last, they allow for digital peer-to-peer exchange. (BIS Annual Economic Report,

2018)

The Bitcoin creators’ intention was to develop a decentralized cash-like electronic

payment system. In this process, they faced the fundamental challenge of how to

establish and transfer digital property rights of a monetary unit without a central

authority. They solved this challenge by inventing the Bitcoin Blockchain. This novel

technology allows us to store and transfer a monetary unit without the need for a central

authority, similar to cash.

Price volatility and scaling issues frequently raise concerns about the suitability of

Bitcoin as a payment instrument. As an asset, however, Bitcoin and alternative

Blockchain-based tokens should not be neglected. The innovation makes it possible to

represent digital property without the need for a central authority. This can lead to the
 11

creation of a new asset class that can mature into a valuable portfolio diversification

instrument. Moreover, Blockchain technology provides an infrastructure that enables

numerous applications. Promising applications include using colored coins, smart

contracts, and the possibility of using fingerprints to secure the integrity of data files in a

Blockchain, which may bring change to the world of finance and to many other sectors.

(Berentsen and Schär, 2018)

Creating a network of micropayment channels enables Bitcoin scalability,

micropayments down to the satoshi, and near-instant transactions. These channels

represent real Bitcoin transactions, using the Bitcoin scripting opcodes to enable the

transfer of funds without risk of counterparty theft, especially with long-term miner risk

mitigations. If all transactions using Bitcoin were on the Blockchain, to enable 7 billion

people to make two transactions per day, it would require 24GB blocks every ten minutes

at best (presuming 250 bytes per transaction and 144 blocks per day). Conducting all

global payment transactions on the Blockchain today implies miners will need to do an

incredible amount of computation, severely limiting Bitcoin scalability and full nodes to

a few centralized processors. (Poon and Dryja, 2016)

With the advent of Blockchain and cryptocurrencies being as new and

revolutionary as it is, predicting the five-year projected value of either Bitcoin and

Ethereum requires numerous factors to be considered. Through a combination of

qualitative research conducted through interviews with industry professionals, linear

regression, and a Monte Carlo analysis, it can be concludedthat Bitcoin can leverage its

existing user base and proven use case is likely to experience more growth in the five-

year time horizon. Ethereum, while having a lower expected value has a much greater
 12

variance as a result of its strong correlation with speculation, news, and hype. Ethereum’s

wide range of outcomes, both positive and negative, indicate that it should be included in

the investment portfolio to take advantage of this fact. (D’Alfonso, Langer, and Vandelis,

2016)

Bitcoin, the world’s most common and well known cryptocurrency, has been

increasing in popularity. It has the same basic structure as it did when created in 2008,

but repeat instances of the world market changing has created a new demand for

cryptocurrencies much greater than its initial showing. By using a cryptocurrency, users

are able to exchange value digitally without third party oversight. Cryptocurrency works

on the theory of solving encryption algorithms to create unique hashes that are finite in

number. Combined with a network of computers verifying transactions, users are able to

exchange hashes as if exchanging physical currency. There is a finite number of Bitcoin

that will ever be generated, preventing an overabundance and ensuring its rarity. Water,

despite its requirement as a life giving material, is generally accepted as being free or of

little cost because it is so abundant. If water was rare, it would be more valuable than

diamonds. Value exists for bitcoin because its users have trust that if they accept it as

payment, they could use it elsewhere to purchase something they want or need (Kelly,

2014). As long as the users maintain this faith, the valued object can be anything.

Bitcoin‟s value exists in its ecosystem much in the same way that wampum, a seashell,

was the currency of the land for Native Americans (Kelly, 2014). Bitcoin does not have

intrinsic value like gold in that it cannot be used to make physical objects like jewelry

that have value. Nevertheless, value continues to exist due to trust and acceptance.

(DeVries, 2016)
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Cryptocurrency is the name given to a system that uses cryptography to allow the

secure transfer and exchange of digital tokens in a distributed and decentralised manner.

These tokens can be traded at market rates for fiat currencies. The first cryptocurrency

was Bitcoin, which began trading in January 2009. Since then, many other

cryptocurrencies have been created employing the same innovations that Bitcoin

introduced, but changing some of the specific parameters of their governing algorithms.

The two major innovations that Bitcoin introduced, and which made cryptocurrencies

possible, were solutions to two long-standing problems in computer science: the double-

spending problem and the Byzantine Generals Problem.

Until the invention of Bitcoin, it was impossible for two parties to transact

electronically without employing a trusted third party intermediary. The reason was a

conundrum known to computer scientists as the ‘double spending problem’, which has

plagued attempts to create electronic cash since the dawn of the Internet. To understand

the problem, first consider how physical cash transactions work. The bearer of a physical

currency note can hand it over to another person, who can then verify that he is the sole

possessor of that note by simply looking at his hands. For example, if Alice hands Bob a

$100 bill, Bob now has it and Alice does not. Bob can easily verify his possession of the

$100 bill and, implicitly, that Alice no longer has it. Physical cash transfers are also final,

in the sense that to reverse a transaction the new bearer must give back the currency note.

In our example, Bob would have to hand the $100 bill back to Alice. Given all of these

properties, cash makes it possible for different parties, including strangers, to transact

without trusting each other. (Dourado, 2014)

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B. Local

Cryptocurrency is a virtual currency created by Satoshi Nakamoto. It was later

developed and adopted by other cryptocurrency companies that operate much like

Bitcoin. A person can buy products and services using it and it can also be traded in the

stock market. What’s really interesting here is the way it can make its users secure by the

use of cryptography or the art of making codes to conceal a message. It’s why its’ called

cryptocurrency.

Blockchain is the technology under cryptocurrencies like Bitcoin, Etherium and

many others. The system is completely decentralized which was thought to be impossible

in the past years. It uses the peer-to-peer network of people that keeps it on track and

updated. While the cryptocurrencies themselves cannot be centralized to one bank or

several banks, the Blockchain, on the other hand, can be regulated by country. (Manila

Standard and Martinez, 2018)

Cryptocurrency exchanges in the Philippines could soon operate as regulated

trading platforms as authorities proactively seek to both protect investors and enable an

inclusive ecosystem for cryptocurrencies to flourish in the country.When crypto

exchanges are regulated as trading platforms, cryptocurrency traders and investors will be

afforded more protection of their assets. Furthermore, startups and companies will also be

able to raise finances through initial coin offerings (ICOs), a radical new form of

fundraising enabled by cryptocurrencies. (Hundeyin, 2018)

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Related Studies

A. Foreign

Cryptocurrency is a medium of exchange created and stored electronically, and

using encryption techniques to control the creation of monetary units and to verify the

transfer of funds.3 Although the concept of electronic currency dates back to the late

1980s; Bitcoin, launched in 2009 by pseudonymous programmer(s), Satoshi Nakamoto,

is the first successful decentralized cryptocurrency4 and has provided the foundation for

the development of numerous other cryptocurrencies. (Abdul, 2018)

Cryptocurrencies, a.k.a. “Cryptocoins”, are rapidly gaining popularity. The price

and market cap of these assets are touching all-time highs, with billions of U.S. dollars of

value per day currently being traded in cryptocoins. Financial institutions are investing in

building digital currency technologies. Blockchain-based tech startups are thriving. As

these changes in the cryptocurrency ecosystem occur, the need to understand the market

dynamics of cryptocoins increases. At the same time as cryptocurrencies have gained

popularity, their rise has been punctuated by crises. From the collapse of Mt. Gox in 2014

to the 2016 hack of Etherium, market crashes have been a regular occurrence.

Understanding the dynamics of cryptocurrency markets may allow us to anticipate and

avoid future disruptive events. (Krafft, Penna, and Pentaland, 2018)

Cryptocurrencies have become one of the most trending topics in recent economic

and financial issues. Since Dotcom crisis, the commerce on internet (ecommerce) has

been rapidly increasing and retail industries have been undergoing a revolution as internet

sales are booming with more and more techsavvy consumers go online to shop. The

appetite of stock market investors for ecommerce shares seemed insatiable as investments
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on internet retailer were massively oversized, despite fears over the future of the Internet

after the dotcom bubble burst and serious concerns about the safety of online shopping by

credit cards. Until birth of first cryptocurrency -Bitcoin- in 2009, the online commerce

was mainly intermediated by financial institutions serving as trusted third parties to

process electronic payments. Although this system was well enough for most

transactions, it was working very slowly due to controls of financial institution (problem

of privacy and trust) and it was somewhat cost (transaction and commission costs).

(Sovbetov, 2018)

With the growing popularity of the crypto market, the large number of

unregulated cryptocurrencies (several hundred), greater attention is now being paid by

governments and other stakeholders around the world. Illustrative is that the total market

capitalization of the 100 largest cryptocurrencies is reported to exceed the equivalent of

EUR 330 billion globally by early 2018. The total market capitalization of all

cryptocurrencies together in that period peaked at an even higher USD 728 billion,

dropping just three weeks later to approximately USD 360 billion.2 Regulators are

looking at whether — and how — to regulate cryptocurrencies. Up till now there is no

univocal view on how to do that. In any event, there are compelling reasons why

cryptocurrencies should be under more scrutiny by regulators and supervisors. The threat

of price volatility, speculative trading, hack attacks, money laundering and terrorist

financing all call for stricter regulation. (Houben and Snyers, 2018)

Cryptocurrency is a recent phenomenon that is receiving significant attention. On

the one hand it is based on a fundamentally new technology, the potential of which is not

fully understood. On the other hand ,atleast in the current form, it fullfils similar
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functions as other, more traditional assets. Is cryptocurrency a form of a currency, a

commodity, a stake in a technology breakthrough, or a completely different instrument?

Can cryptocurrency be priced by the factors available for other asset classes? Which

industries may be affected by the development of blockchain technology? One way to

understand what cryptocurrencies represent is to investigate whether their returns behave

similarly to other asset classes. In other words, we assess how investors and markets

value current and future prospects of cryptocurrencies. We use standard tools of

empirical asset pricing to comprehensively analyze cryptocurrency risks and returns.

Specifically, we study whether major cryptocurrencies commove with stocks, currencies,

commodities, macroeconomic factors, and the cryptocurrency market specific factors.

Our main conclusion is that only cryptocurrency market specific factors – momentum and

the proxies for investor attention – consistently explain the variations of cryptocurrency

returns. This suggests, in contrast to popular explanations, that markets do not view

cryptocurrencies similarly to standard asset classes. (Liu and Tsyvinski, 2018)

The theory of decentralized crypto-currencies (e.g. Bitcoin and Altcoins) have

gained rapidly recognition, and are often associated with statements such as a glimpses

into our future. While the Bitcoin technology has been extensively studied, we believe

that the concept of the Blockchain provides a new perspective on the already existing

literature by looking at the various appliances of the underlying technology in a socio-

economical setting prior to its previous literary focus within finance and economics (e.g.

fin-tech).

While Blockchain represents a novel application on cryptography and information

technology, researchers still lack to find the tipping point for the technology. Researchers
 18

agree that the Blockchain technology has certain features that is well applied within the

financial industry, but still lacks to find the appropriate use of large scale Blockchain

usage within modern society This is further backed by researchers that points to the fact,

that crypto currencies and Blockchain has not yet reached mainstream IS research.

However, technologies such as automation, computing, robots and ultimately the

Internet have been contributing immensely to progression and wealth of economies and

culture and thus expect that the Blockchain technology will provide further contributions.

(Johansen, 2018)

Cryptocurrencies, based on and led by Bitcoin, have shown promise as

infrastructure for pseudonymous online payments, cheap remittance, trustless digital asset

exchange, and smart contracts. However, Bitcoin derived Blockchain protocols have

inherent scalability limits that trade off between throughput and latency, which withhold

the realization of this potential.

Cryptocurrency offers a new, effective and attractive model of payment methods

that can boost companies and operators revenues. It also provide alternative method of

payment, apart from real money, that enable users to make financial activities such as

buying, selling, transferring and exchanging easily. Although cryptocurrency platforms

open many channels for digital financial transactions and provide a new form of currency

with different mechanisms and methods, they are not controlled and regulated as they

deserved. The research analyzed cryptocurrency platforms and extracted many concerns

and challenges that put such financial system under the risk. The lack of legislations is

considered as the main concern in cryptocurrency systems.

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Almost a clear picture of the size of cryptocurrency use has been drawn from my

analysis of the current cryptocurrency literature and from the conducted study. Although

the pilot study has been conducted with relatively small sample, but the results showed

me a preliminary perception about the use, the growth, the trust of using and future

expectations of cryptocurrency. I can now realize many indications that can provide

initial answers to the research questions. My analysis indicates that cryptocurrency is

very likely to be the next currency platform due to the large volume of cryptocurrency

that is flowing in different systems, the huge expanding and growing of using and

implementing cryptocurrencies and the opportunities that cryptocurrency systems offer.

(Jani, 2018)

Cryptocurrencies such as bitcoin have been seen by some as merely a passing fad

or insignificant, but that view is increasingly at odds with the data we are observing. As

of April 2017, the combined market value of all cryptocurrencies is $27 billion, which

represents a level of value creation on the order of Silicon Valley success stories like

AirBnB. The advent of cryptocurrency has also sparked many new business platforms

with sizable valuations of their own, along with new forms of peer-to-peer economic

activity. (Hileman and Rauchs, 2017)

Cryptocurrency (and other digital money such as bank deposits) are typically files

on computers that people consider having a certain value and is seen as money. The

nature of money consists of building trusts among the strangers who use money to trade.

One must be confident that others are willing to accept their money in the future and that

the money will keep a certain value so that it can be used for future trades (Camera,

2017). Money has three functions, these are store of value (saving), unit of account
 20

(provide a common base for prices) and medium of exchange (trade) (Asmundson&Oner,

2012). With traditional money people attach a certain value to a paper banknote and the

government and central banks make sure that the money remains valuable and that trust is

remained. For private e-currency there is not an authority that fulfills this task of

maintaining stability and thus it is one of the reasons that the value of private e-currencies

is very volatile. (Koevoets, 2017)

As Bitcoin and related cryptocurrencies have become surprisingly popular, they

have hit scalability limits. The technical debate to improve scalability has been hampered

by a perceived inherent trade-off between performance metrics and security goals of the

system. Consequently, the discussions have become acrimonious, long-term solutions

have seemed elusive, and the current sentiment has centered around short-term,

incremental, compromise solutions. Bitcoin-NG shows that it is possible to improve the

scalability of Blockchain protocols to the point where the consensus latency is limited

solely by the network diameter and the throughput bottleneck lies only in node

processing power. Such scaling is key in allowing for Blockchain technology to fulfill its

promise of implementing trustless consensus for a variety of demanding applications

including payments, digital asset transactions, and smart contracts — at global scale.

(Eyal, Gencer, Sirer, and Renesse, 2016)

Cryptocurrencies are a subset of digital currencies, which may have either have

centralized institutions or are based on a decentralized network (Trautman 2014). For a

centralized currency scheme, the digital currency is issued by one institution, which

ensures that the digital coins can be exchanged back to fiat currencies or can be used to

buy and sell (digital) goods (Bryans 2014). One example for this centralized digital
 21

currency is the Linden Dollar, issued by Linden Lab, which can be used in the online

virtual world Second Life. It shares some characteristics with fiat currencies and, like in

the traditional money system, a central institution serves as a source of trust. However,

decentralized currency schemes try to avoid central institutions as much as possible and

are built on a network of transaction partners (Karlstrøm2014). As long as the transaction

partners can observe each other, they can build up trust based on their behaviors. If

observation of the transaction partners is not possible, other mechanisms have to be found

to establish reliable transactions. One solution lies in cryptocurrencies, which are

decentralized currency schemes based on cryptography. One of the first cryptocurrencies

was introduced by a person or a group under the pseudonym Nakamoto Satoshi in a white

paper in 2008 (Nakamato 2008). The entity named this cryptocurrency Bitcoin and

defined it as "an electronic cash system" (Nakamato 2008). In 2009 Satoshi made Bitcoin

to an open-source project and retired from the project. Today, Bitcoin is the most used

cryptocurrency with a market capitalization of 3.3 billion USD (mid February 2015)

followed by Ripple with a market capitalization of around 400 million USD

(coinmarketcap.com 2015). (Morisse, 2015)

A cryptocurrency is a digital token produced by cryptographic algorithms. This

token is then transported across cyberspace using protocols such as peer-to-peer

networking. Its value is mainly derived from the demand and supply for such tokens and

an important part of their appeal resides in the decentralisation of the system of which

they exist. The general discourse on cryptocurrencies has led to varying levels of support

for the innovation; where some regulators have been very wary of it while the Financial

Technology (Fintech) community have argued about the inevitable widespread use of
 22

cryptocurrencies. The main benefits cited are: the security features; ease of use on mobile

devices; relatively cheap costs of production and transmission via the Blockchain

transmission protocol; and low long-term inflation risks. Harvey (2015) also noted that

the main issues with the adoption of cryptocurrencies include an early track record of

illiquidity, high volatility and potentially nebulous uses. Most of the issues surrounding

the successful adoption of cryptocurrencies is marred in the confusion of whether they

are digital or virtual currencies, and as such, how their values are determined. (Harvey,

2015)

Within recent years, internet-based currencies and payment systems have emerged

that do not require banks to process payments. The first, and still the largest, of these so

called cryptocurrencies was Bitcoin (Grinberg, 2011; Dwyer, 2015). Unlike most other

currencies normally held by the central bank in their international reserves, the supply of

cryptocurrencies is not controlled by a central bank but by a highly complex iteration of a

mathematical proof. Network users, known as miners, gather blocks of transactions

together and vie to verify them. In return, these users receive a new supply of the

currency as well as any transaction fees. Several businesses around the world present

accept Bitcoins as a means of final payment. (Moore and Stephen, 2015)

B. Local

There are no local studies found.

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Figure 1
SIMULACRUM

Figure 1 shows the simulacrum of the study. This illustration indicates the

advantages and disadvantages of using cryptocurrency. The big mobile shows a "big

penny bank" which is considered as a huge platform for the crypto participants.

Cryptocurrency is a mobile negotiation in which makes the money transactions easier.

The Bolt box in the image that is attached in the mobile indicates the safety of the money,

most of the users used cryptocurrency because of its security and reliability in terms of

the protection of the money during a transaction. The wifi bars in the image represent the

absence of the internet resulting in a slow transaction experienced by the selection. The

clones and the circuits indicate the massive users that are considered as a problem by
 24

many crypto participants. The hour glass shows the tolerance of the users waiting for the

network become available again. They consume their time waiting and are patience about

it or sometimes they just asked for help or email the problem they encounter. That is how

the users cope with their problems in using cryptocurrency regarding the situations and

how they handle and fix the difficulties about it.

 25

Chapter 3

METHODS OF RESEARCH AND SOURCES OF DATA

This chapter presents the methods and procedures that were used in securing data

and how they were translated in the completion of the study. Specifically, it presents the

instruments utilized in gathering the important data, together with the process that

followed in the analysis and interpretation of the data.

Research Design

The research design that was used by the researcher is a Descriptive Design

because the researchers sought to understand a phenomenon, a process, or a particular

point of view from the perspective of those involved (Ary et al, 2010).

Qualitative research discusses a variety of approaches. However, the researchers

used only one approach which is appropriate to the research problem. This research is

categorized into the descriptive study which refers to the researcher’s act in arriving and

identifying a rich description of the people, objects, events, places, conversations and so

on, and the main concern of this research is to describe the Effects of Cryptocurrency to

Selected Residents in Camiling, Tarlac. This study is also able to produce the data in the

form of written words rather than numbers or statistics.

Selections of the Study

In this study, there were ten (10) selected residents of Camiling, Tarlac chosen as

the foundation of the particular information intended to perform this research. Hence,
 26

they need to be nurtured with all the essential data that regards with their familiarity on

the topic.

Scope and Delimitation

The present research aimed to identify the knowledge of selected residents of

Camiling, Tarlac on the effects of using cryptocurrency that are usually met by the user

and to improve the way they use the cryptocurrency. Cryptocurrency is the focal idea that

fills up the information that comes from the answer of the selection.

Sampling Design

The study utilized the purposive sampling. The selection were be chosen because

of their characteristics and experiences relative to the study. The researchers used the

purposive sampling to gather the information at the selected residents. Purposive

sampling has a chosen number of people to be used as the selection knowledgeable in the

field being analyzed. The researchers also used quota sampling in order to conclude the

numbers of selection participated in this study.

Data Gathering Instrument

The main instrument that was used in this study is the interview guide. It served a

vital role in gathering the information needed in this research. Interview guide is the

verbal conversation between two people with the objective of collecting relevant

information for the purpose of research. The researchers also use the social media to

interview some of our selection due to long distance situation.

 27

An interview as the data gathering instrument is a simple way to collect figures

that can be done in a given amount of time. Interviews are particularly useful for getting

the story behind a participant's experiences (McNamara, 1999)

Data Gathering Procedure

The data for this research were collected using a questionnaire. The questions are

created using suitable questions modified from related research and individual questions

formed by the researchers. The interview is comprised of questions, which were related

to the participants’ knowledge regarding on the cryptocurrency.

The data analysis was qualitative. It required the organization of information and

data reduction. Data analyses involved categorization and description. Through this

category, discussions were focused for proper interpretation and analysis.

 28

Chapter 4

PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA

This chapter discusses about the presentation, analysis, and interpretation of data

gathered by the researchers based on what the researchers have observed and gathered in

the interview they have conducted. It contains the following: (1) general profile of the

selected residents of Camiling, Tarlac; (2) the benefits and ways on how did the selection

cope up with problems being encountered and when do they encountered problems

consists of 7 questions asks and answered. Their statements for each question were

categorized then summarized into one theme.

Table 1 shows the general profile of the selection in terms of age, gender,

educational attainment and frequency of using cryptocurrency; the residents are on the

young adulthood and middle adulthood, most of the selection are male and there are only

few who are female; The selection are mostly college graduate with a degree and few are

still students. Almost all of the selection uses cryptocurrency barely.

 29

Table 1
General Profile of the Selection
THEME CATEGORIES STATEMENTS
Age
22
21
42
Young Adulthood 50
18
Maturity 42
Middle Adulthood 19
19
17
21
Gender
Female
Male
Male
Masculinity Female
Male
Sexuality Female
Femininity Male
Female
Male
Male
Educational Attainment
Bachelors Degree
College Degree
AB Economics
College Graduate
BSBA Management
Education Degree SHS Student
BS Hotel and Restaurant Management
College Student
SHS Student
College Student
Frequency of Using Cryptocurrency
Most of the time
Even
Everyday
Time Four Times a Month
Even
Period Barely
Cycle Even
Even
Seldom
Not anymore
 30

Table 2
Benefits of Cryptocurrency to the Selection
THEME CATEGORIES STATEMENTS

“For fast transaction: you are not going to fall in line

just to receive money, which saves most of y time”

“Using mobile as a money transaction is a very

convenient and easy to use, because of
modernization and technology we can easily do our
transaction in bank fast and simple”

“Makes thing easy and accessible”

“Somebody told me that snapcart can make money.

Just snap or take a picture on receipts then it earn
points that afterwards it turns to money, receipt only
on a grocery or on a daily consumption only”
Advantages Fast “Because it is easy to access and in the bank, there is
a lot of requirement needed to get what you need”
Accessible
“Convenience, Time Saving, No queuing and no
Security fees”

Easy “It is much easier to transact anything when it comes

to bill payments”
“For easier and faster money transaction”
“I use mobile coz its convenient for me to carry it
along my journey and it has several security unlike
wallet that you can just pull it in your wallet”
“Because mobile phone is more accessible than other
devices”

Table 2 shows the benefits that are met by the selection in using cryptocurrency.

It further revealed that using cryptocurrency is fast and secured for you will not bring any

cash. They are glad on how the technology is accessible and convenient at all times. They
 31

can easily use the technology when they are in a rush on paying bills or to transfer and to

receive money.

It conforms to the study of Chuen Guo and Wang (2018) that blockchain

technology have better security and faster settlement.

Table 3
Problems met by the Selection on Using Cryptocurrency
THEME CATEGORIES STATEMENTS
“If you do not have wifi at home or data connection you
cannot see to it that the money is already send or not. In
addition, there is a dilemma on its safetiness for you will
share your private information on line. Another is when
the sender already send the money but you did not
received any confirmation yet that you already have an
addition to your act.”
“For now there are no major problem using this kind of
method in banking Only is that posting of payment takes
2 to 3 days to appear in the system, unlike actual
payment at bank it will be posted immediately as you
pay.”
“As of now I don’t have any problems encountered”
“Problems when the internet goes wrong I can not
None process or snap the receipt”
“None so far”
“As of now, I never encountered some problems from
Internet or System cryptocurrency”
Malfunction “Slow transactions, late confirmation”
Errors
Slow Transaction “The problems I encounter using cryptocurrency is that

some sites that give free cryptocurrencies seems to be a

Massive Users
scam or when you want to put some value in your wallet

by entering the address and if you input the wrong

address your money will go to waste.”

“Sometimes i encounter slow mining due to slow

hashpower. Because i do not have a money to invest to

power up the hashpower to improve the speed of mini g

of bitcoins”
 32

The table 3 shows the problems that met by the selection that has an effects on

using cryptocurrency. Some did not experienced any problems and they are happy about

that and some are not happy because of the problems about the slow internet that causes

delays on transactions. They also experienced slow transaction that it took 2-3 days

before it appears on the system or late confirmation that sometimes it is the cause of

having a delay on payments. It further revealed that massive users is also a factor because

other selections are also using the system or the app all at the same time that causes the

system to crash.

Table 4
Selection Addressing the Problem Met by Using Crytocurrency
THEME CATEGORIES STATEMENTS
“I see to it that I only fill out the information needed,
thus are the infos with asterisk (*). If there is not
needed I disregard it.”
“The purpose of this tool is to be convenient and fast,
then why is it posting of payment is delayed. There
should be a proper verification on time that the system
should improve”
“just ask the domain or the server that you are in and
contact their hotlines to address such gliche or
problem”
“None just to wait for the internet”
“Just wait for the system because you can not do
Asking anything about it”
Solutions “Call hotline for system update”
Patience
“Once I experience problem I send email to the

company who are the one's able to fix the system”

“Give some feedbacks”

“I will ask the developers to ask for support and as fast

as possible for this is money we are talking about”

“I create accounts from different bitcoin mining sites”

 33

The table 4 shows the solutions that were used by the selection to address the

problems met on using cryptocurrency. The most common solution to address the

problems they met is to ask. They are contacting the server so that their problems will be

addressed. Some are just being patient and just wait for the system to be good again. It

further exposed that it depends on the user if it is easy or hard to address the problems

that they may met on using cryptocurrency.

 34

Chapter 5

SUMMARY OF FINDINGS, CONCLUSIONS, AND RECOMMENDATIONS

This chapter presents the summary and conclusions of the data that is gathered

from the selection. It also contains the recommendations needed to know about thee

effects of cryptocurrency.

Summary of Findings

This research gave emphasis on the effects of using cryptocurrency encountered

by the selections from Camiling, Tarlac. In this study the researchers used a qualitative

approach. The selections of the study were given questionnaires for them to answer. After

gathering the data, the statements were categorized then summarized into themes. These

strategies include the aspects and coping mechanisms of the selection. The result of the

study shows that there are different advantages and disadvantages the selection gained

from using cryptocurrency.

Most of the selections are male and there are only few who are female. The

selection are mostly college graduate with a degree and few are still students, almost all

of them barely uses cryptocurrency. Most of the selections perceptions and attitude

towards the use of cryptocurrency is good and they like how fast and convenient

cryptocurrency is. On the other hand, the factors that influences the selections in using

cryptocurrency is the fast and secured transaction of money. They are glad on how the

technology is accessible and convenient at all times. However, there are still problems

that the selections met that cannot be avoided, the common problems that they encounter
 35

are the slow internet that causes delays on transactions. It further revealed that massive

users are also a reason that causes a problem on the use of cryptocurrency because other

users are also using the system or the app at the same time. Lastly, the most common

solution to address the problems stated by the selection is to ask. They are contacting the

server so that their problems will be addressed. Some are just waiting for the system to

function well again.

Conclusion

Based from the results of the study, the following conclusions were drawn:

1. Most of the selections are male, from young adulthood and barely use

cryptocurrency.

2. Majority of the selection stated that cryptocurrency is a fast, secured, easy and

convenient way of transferring funds.

3. Several users’ encountered problems such as slow inter connection and the

massive users of cryptocurrency that causes the system to malfunction.

4. Most users address the problems they met by sending an email or feedback to

the company of the system.

Recommendations

In line with the results and conclusions, the following are recommended:

1. To the programmers, that they should inspire their crypto participants to be

more hardworking and to have a good relationship with them.

 36

2. To the crypto participants who should observe patience and respect towards the

programmer when encountering a problem.

3. Crypto participants must acquire knowledge about the problems in using

cryptocurrency to measure the improvement, experience, to promote cryptocurrency, and

profitability of cryptocurrency.
 37

APPENDICES
 38

APPENDIX A

December 6, 2018

MR. RAFAEL G. GUILLERMO, LPT, MAEd

Assistant Principal
Camiling Catholic School, Inc.

Sir,

The undersigned researchers are currently conducting a study on “EFFECTS OF

CRYPTOCURRENCY TO SELECTED RESIDENTS OF CAMILING TARLAC.”
and to assure the quality output, it is advisable that each group must have an adviser.

In view thereof, may we knock to your generous heart to have with us as our Content
Adviser. We believe that your knowledge, experience and expertise would have a great
impact to the success of this endeavor.

We look forward to your favorable approval.

Thank you for being a blessing to us.

Respectfully yours,

AGDEPPA, MIKE EDCEL D.

ARGALES, JORGE MONIQUE C.
BAUTISTA, NICOLE ANNE G.
RIVERA, ANGELA KAYE G.
VERDADERO, MA. LOUISA VENUS T.

(Researchers)

Noted by:

MS. KRISTELLE JOY L. SALAZAR, LPT

Subject Teacher
Practical Research 1

Approved:
MR. RAFAEL G. GUILLERMO, LPT, MAEd
Content Adviser
 39

APPENDIX B

December 6, 2018

MS. VIMMAE MOHAM R. PAGATPATAN, LPT

Camiling Catholic School, Inc.

Madam,

The undersigned researchers are currently conducting a study on “EFFECTS OF

CRYPTOCURRENCY TO SELECTED RESIDENTS OF CAMILING TARLAC.”
and to assure the quality output, it is advisable that each group must have a language
critique.

In view thereof, may we knock to your generous heart to have with us as our Language
Critique. We believe that your knowledge, experience and expertise would have a great
impact to the success of this endeavor.

We look forward to your favorable approval.

Thank you for being a blessing to us.

Respectfully yours,

AGDEPPA, MIKE EDCEL D.

ARGALES, JORGE MONIQUE C.
BAUTISTA, NICOLE ANNE G.
RIVERA, ANGELA KAYE G.
VERDADERO, MA. LOUISA VENUS T.

(Researchers)

Noted by:

MS. KRISTELLE JOY L. SALAZAR, LPT

Subject Teacher
Practical Research 1

Approved:
MS. VIMMAE MOHAM R. PAGATPATAN, LPT
Language Critique
 40

APPENDIX C

December__,2018

____________________________
____________________________
____________________________

Sir/Madam,

We are the researchers of Grade 11, STEM-1 and currently enrolled in Camiling Catholic
School, Inc., and presently working on a study entitled “EFFECTS OF
CRYPTOCURRENCY TO SELECTED RESIDENTS OF CAMILING TARLAC.”
in partial fulfillment of the requirements in Practical Research 1.

In view hereof, we have the honor to request to conduct an interview with you as one of
our selections.

Considering that the findings of this study may contribute to the needed data of our study.
We hope for your favorable action on our request.

Rest assured that whatever information gathered will be kept confidential.

Thank you very much and God bless!

Respectfully yours,

The researchers:

AGDEPPA, MIKE EDCEL D.

ARGALES, JORGE MONIQUE C.
BAUTISTA, NICOLE ANNE G.
RIVERA, ANGELA KAYE G.
VERDADERO, MA. LOUISA VENUS T.

Recommending Approval:

Mr. Rafael G. Guillermo LPT, MAEd

Subject Teacher/Content Adviser

Approved:

___________________
Selection
 41

APPENDIX D

INTERVIEW GUIDE

SOP 1: What is the general profile of the selection in terms of:

Name (optional): ________________________________________________

Gender: _________________ Age: __________________

Educational Attainment: _____________________ Profession:

_____________________

Monthly income: _________________ Frequency of using cryptocurrency:

_______________

SOP 2: What are the benefits of cryptocurrency to the selection?

Q1. Why do you use mobile as a tool for money transaction?
_______________________________________________________________
________________________________________________________________________
________________________________________________________________________
___________________________________________________________________.

Q2. Does using cryptocurrency make your transactions easier? How? Why?
_______________________________________________________________
________________________________________________________________________
________________________________________________________________________
___________________________________________________________________.

SOP 3: What are the problems met by the selections when using cryptocurrency?
Q3. What particular problems or circumstances did you encountered in using
cryptocurrency?

_______________________________________________________________
________________________________________________________________________
________________________________________________________________________
___________________________________________________________________.
 42

Q4. Why do you think such problems occur?

_______________________________________________________________
________________________________________________________________________
________________________________________________________________________
___________________________________________________________________.
SOP 4: How do the selections address these kinds of problems in using
cryptocurrency?

Q5. What counter measures did you take to address these problems?

_______________________________________________________________
________________________________________________________________________
________________________________________________________________________
___________________________________________________________________.
Q6. Is it easy to address such problems you encountered through digital devices? How do
you say so?
_______________________________________________________________
________________________________________________________________________
________________________________________________________________________
___________________________________________________________________.

Q7. Would you recommend the use of cryptocurrency to others for their money
transactions? Why or why not?
__________________________________________________________________
________________________________________________________________________
________________________________________________________________________
________________________________________________________________.
 43

BIOGRAPHICAL
SKETCH
 44

The researcher, Mike Edcel Didomo Agdeppa

was born on the 2nd day of August year 2001. He is the

youngest among the five children of Mr. Welfredo

Lorenzo Agdeppa and Mrs. Genoveva De Vera

Didomo. He was currently living in Purok 3, Bilad

Camiling Tarlac.

He finished his elementary education at Bilad Elementary School. When he is in

Grade 4, he joined the speech choir competition in Malacampa and was awarded as 4th

placer. He is also a member of the Campus Journalist and a varsity player of volleyball.

He was awarded as the “Best in Filipino” when he was in Grade 5. He spent his Junior

High School in Camiling Catholic School Inc. and was an honor student until Grade 10.

He is also a member of different organization on said school.

He loves watching vlogs in YouTube and listening to kpop songs. He also prefer

the light colors especially purple. He also loves playing volleyball at their backyard,

singing, dancing, and cooking.

He wants to become a professional Ophthalmologist and in order to achieve that,

he will do his best to finish his study and pass the license examination and help his

family.

Mike Edcel Didoma Agdeppa

 45

The researcher, Jorge Monique Celestial

Argales was born on the 14th of October 2002. She is

the youngest daughter of Mr. Nikko D. Argales and

Mrs. Michelle C. Argales. She is currently settled in

Purok 1 Barangay Bacabac Camiling Tarlac.

She finished her elementary education at Bacabac Elementary School and

completed her Junior High School at Camiling Catholic School, Inc. Now, she is enrolled

as a Grade 11 student at Camiling Catholic School, Inc. and is taking the Science,

Technology, Engineering and Mathematics (STEM) academic track for her prepared

course.

Through her stay at Camiling Catholic School, Inc., she was able to develop her

character. The school made her a more reliable, caring, giving, and confident person.

With the help and guidance of her teachers and friends, she is striving harder to achieve

her dreams. She is a Kpop fan and she loves watching Anime, Korean Dramas and

Netflix series, listening to music, and reading wattpad stories and novels. Her hobby is

drawing her favorite anime characters and actors and writing short stories. She spends

some of her time on sleeping, playing online games, and going out with her family.

The researcher aspires to be a successful and professional Architect to help her

family and build a house that is comfortable for anyone to live in. She wants to make her

parents happy and proud for what she would become in the near future.

Jorge Monique Celestial Argales

 46

The researcher Nicole Anne Garrata Bautista was

born on the 10th day of June year 2002 at Camiling,

Tarlac. She is the eldest daughter of Mr. Rudy S.

Bautista and Mrs. Joy Garrata. She has two siblings. She

lives in Brgy. Malacampa, Camiling, Tarlac.

She spent her elementary days at Camiling Catholic School, Inc. At year 2018,

she completed her Junior High School at Camiling Catholic School, Inc. She is currently

enrolled at Camiling Catholic School, Inc. as a Grade 11 student taking up Science,

Technology, Engineering and Mathematics. She has three courses in mind but she chose

Information Technology instead.

She loves Kpop, Korean drama and Chinese drama. She is in love with her cat,

Sunday. Her comfortable expression is a straight face. She spends most of her time

eating, sleeping, reading, dancing and watching horror movies. She is comfortable to

everyone especially to her friends. Her biggest goal in life is to make her loved ones safe

and happy. She believed that wings are the reason why people continue to fly until they

reach their own goals in life.

Nicole Anne Garata Bautista

 47

The researcher, Angela Kaye Galsim Rivera

was born at the 5th day of January year 2002 at

Camiling, Tarlac. She is the 5th child and the youngest

girl in a family of six. Her parents are, Mrs. Josephine

Galsim Rivera and Mr. Ananias Padollina Rivera. She

lives in Poblacion East, Santa Ignacia, Tarlac.

She spent her elementary education at Santa Ignacia North Central Elementary

School she awarded as 3rd honorable mentioned and 3rd place in slogan of District Meet.

She finished her junior high school education at Santa Ignacia Academy in the year 2018

and she achieved with honors and awarded with different recognitions. She also joined a

FAP club and team building as a leader. During their intramurals when she was grade 8,

she was crowned as the 4th runner up of Miss Intramurals 2018.

She loves to draw and paint based from her imagination, and sometimes she also

cooks desserts in different way. For her, the most important thing that she learned is to

communicate with God before making an action, an action to fill all her dream and that

dream is to be an engineer someday. Her life is like is like a book, it is full of conflicts

but in the end she knows that it will have a happy ending.

Angela Kaye Galsim Rivera

 48

The researcher Ma. Louisa Venus Tolentino

Verdadero was born on the 20th day of February year

2002 at Ramos Hospital Tarlac. She is the daughter of

Mrs. Ma. Estrella Tolentino Verdadero and Mr. Eric

Domingo Verdadero. She is currently residing at Luna

St. Camiling, Tarlac.

Venus graduated at Camiling North Elementary School, she was awarded as the

6th honor on their batch last 2014, she got a silver award at the MTAP contest, she was a

contestant of Oral Reading and one of the Read a Tone participants who represented their

school when she was an elementary. She spent her Junior High School education at

Camiling Catholic School, Inc. She is still enrolled as a Senior High School student at the

same school and taking the STEM academic track

She loves to surf the internet and to play mobile games. She is a reader of wattpad

stories for six years, she loves to dance, to watch Korean dramas and she is starting to

explore the world of makeup. Venus has a lot of dreams but what she wants most is only

to be successful in life and to give back the hardships of her parents. She believe that in

life you need to focus on what is important and always have a smile on your face because

it is the only curve that makes everything straight.

Ma. Louisa Venus Tolentino Verdadero