Seeing the need to have an official medium of exchange or money for the Internet, a lawmaker in the Philippines filed the proposed “E-Peso Act of 2014” which also applies to all other electronic and non-electronic means of communications.
“What exists is a patchwork of methods using traditional credit systems, which act in place of money on the Internet. The E-peso is the electronic equivalent to the paper peso,” said Pangasinan representative Kimi S. Cojuangco, author of House Bill 4914.
