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Satoshi Citadel Industries

2014-10-20T09:07:03Z

Miguelcuneta:

'''Satoshi Citadel Industries''' is a Philippine startup company specializing in creating [[Bitcoin]] services and products for the Philippine market for the purpose of financial inclusion. It was founded by Filipino entrepreneurs ''John Bailon'', ''Miguel Cuneta'', ''Nick Galan'', and ''Jardine Gerodias'' in March 2014, and is headquartered in Metro Manila, Philippines. It serves as a holding company for at least six different ventures in the Philippines Bitcoin industry.

==History==
Satoshi Citadel Industries (SCI) was founded by John Bailon, Miguel Cuneta, Nick Galan, and Jardine Gerodias in the first quarter of 2014. In a span of four months, the founders had grown into a team of 14 individuals. Work on the flagship product Bitmarket.ph was well under way, but the team kept growing and building more bitcoin related products and services for the Philippine market.

==Growth and Expansion==
By August 2014, the company developed six bitcoin ventures: Digital payment service provider '''Bitmarket.ph''', which enables millions of Philippine merchant to accept digital payments,<ref>{{cite news|title=This startup taps into Bitcoin to offer better payment options for merchants in the Philippines|url=http://www.techinasia.com/startup-taps-bitcoin-offer-payment-options-philippine-merchants/
|agency=TechinAsia|publisher=[[www.techinasia.com]]|date=30 May 2014}}</ref> Bitcoin [[Rebittance]] company '''Rebit.ph''', which allows people to remit money to the Philippines using Bitcoin, allowing them to save money on remittances, <ref>{{cite web|title=The Rise of Rebittance: Reinventing Money Transfers in the Philippines With Bitcoin|url=http://thenextweb.com/insider/2014/09/28/rise-rebittance-reinventing-money-transfers-philippines-bitcoin/|publisher=[[www.thenextweb.com]]|date=30 September 2014}}</ref>
Bitcoin Faucet/ social media service '''Bitstars.ph''', a website that rewards users with Bitcoin for submitting photos <ref>{{cite web|title=Bitstars.ph ‘Selfie’ Contests Reward Winners with Bitcoin|url=http://www.coindesk.com/bitstars-turns-your-selfies-into-bitcoin-tipping-contests/|publisher=[[www.Coindesk.com]]|date=31 July 2014}}</ref> Bitcoin exchange '''Coinage.ph''', the first enterprise-grade orderbook exchange in the Philippines<ref>{{cite web|title=Coinage.ph: Philippines Bitcoin Exchange!|url=http://bitcoinist.net/coinage-ph-philippines-bitcoin-exchange/|publisher=[[www.Bitcoinist.net]]|date=07 August 2014}}</ref>, the Philippines' first Bitcoin bills payment service<ref>{{cite web|title=Let-a-ninja-pay-your-bills-with-bitcoin-when-in-manila|url=http://www.wheninmanila.com/let-a-ninja-pay-your-bills-with-bitcoin-when-in-manila/|publisher=[[www.Wheninmanila.com]]|date=14 August 2014}}</ref> '''Bills.ninja''', and Prepaid Bitcoin stored value card provider '''Prepaidbitcoin.ph'''.

==External Links==
* [http://sci.ph/ Satoshi Citadel Industries] Website
* [http://bitmarket.ph/ Bitmarket] Website
* [http://Rebit.ph/ Rebit.ph] Website
* [http://Coinage.ph/ Coinage] Website
* [http://Bitstars.ph/ Bitstars] Website
* [http://Prepaidbitcoin.ph/ Preapid Bitcoin] Website
* [http://Bills.ninja/ Bills Ninja] Website

==References==
<References>

Satoshi Citadel Industries

2014-10-20T09:00:35Z

Miguelcuneta: Created page with "'''Satoshi Citadel Industries''' is a Philippine startup company specializing in creating Bitcoin services and products for the Philippine market for the purpose of financ..."

Rebittance

2014-10-20T08:46:18Z

Miguelcuneta:

"Rebittance" is a term that is being increasingly used to distinguish Bitcoin remittance from traditional remittance. It is the process of using Bitcoin companies for remittance of money overseas in a manner familiar with those who use traditional remittance companies, but at a fraction of the cost.

==Traditional Remittance==

In 2014, an expected US$436 Billion will be remitted by migrants back to their families in the developing world. The cost of sending all those remittances is estimated at US$47 billion or more than 10% of the entire amount.

In traditional remittances, credit is forwarded through 3 or 4 separate banks or clearing houses before finding their way to their intended recipients. At each step, fees may be applied. Each bank must secure its respective network and facilities and this costs money.

By using Bitcoin, the average cost of remittances could be reduced to $5 Billion, or 1.1%.

==Rebittance Services==

Rebittance does away with all this by only having a single entity in between the sender and the receiver. Although Bitcoin is inherently designed to be completely peer-to-peer, Rebittance companies are seen as a necessity due to lack of infrastructure at this stage of its development<ref>[http://thenextweb.com/insider/2014/09/28/rise-rebittance-reinventing-money-transfers-philippines-bitcoin/ The Next Web: The Rise of Rebittance]</ref>. These organizations purchase bitcoins from senders all over the world and then exchange and remit the local currency to the nominated recipient. Bitcoin remittance companies have reduced the cost of sending money internationally from a global average of about 8% to anywhere from 3% to 1%.

These are the Bitcoin remittance companies to date:

*Beam
*BitPesa
*Bitso
*Coincove
*Payfast
*Rebit.ph
*Sendmoney

==Rebittance.org==
In October of 2014, the website Rebittance.org was created by Philippines-based company Satoshi Citadel Industries as a shared resource about Bitcoin remittance for the bitcoin community.

==External Links==
http://Rebittance.org Website

==References==
<references>

</references>

Rebittance

2014-10-20T08:29:41Z

Miguelcuneta: Created page with ""Rebittance" is a term that is being increasingly used to distinguish Bitcoin remittance from traditional remittance. It is the process of using Bitcoin companies for remitta..."

"Rebittance" is a term that is being increasingly used to distinguish Bitcoin remittance from traditional remittance. It is the process of using Bitcoin companies for remittance of money overseas in a manner familiar with those who use traditional remittance companies, but at a fraction of the cost.

==Traditional Remittance==

In 2014, an expected US$436 Billion will be remitted by migrants back to their families in the developing world. The cost of sending all those remittances is estimated at US$47 billion or more than 10% of the entire amount.

In traditional remittances, credit is forwarded through 3 or 4 separate banks or clearing houses before finding their way to their intended recipients. At each step, fees may be applied. Each bank must secure its respective network and facilities and this costs money.

By using Bitcoin, the average cost of remittances could be reduced to $5 Billion, or 1.1%.

==Rebittance Services==

Rebittance does away with all this by only having a single entity in between the sender and the receiver. Although Bitcoin is inherently designed to be completely peer-to-peer, Rebittance companies are seen as a necessity due to lack of infrastructure at this stage of its development. These organizations purchase bitcoins from senders all over the world and then exchange and remit the local currency to the nominated recipient. Bitcoin remittance companies have reduced the cost of sending money internationally from a global average of about 8% to anywhere from 3% to 1%.

These are the Bitcoin remittance companies to date:

*Beam
*BitPesa
*Bitso
*Coincove
*Payfast
*Rebit.ph
*Sendmoney

==Rebittance.org==
In October of 2014, the website http://Rebittance.org was created by Philippines-based company Satoshi Citadel Industries as a shared resource about Bitcoin remittance for the bitcoin community.