In the bustling corridors of hospitals and clinics, where the spirit of service and care manifests through the diligent efforts of Christian medical professionals, there lies a parallel between their vocation and the essence of giving. As physicians, nurse practitioners, nurse’s assistants, and registered nurses, the Filipino medical community abroad embodies a living testament to the virtues of hard work, dedication, and the grace of giving. It's in this context that the concept of remittances, the financial lifeline for many families back home, takes on a new light, especially through the lens of emerging digital assets like Bitcoin.
"Whoever is generous to the poor lends to the Lord, and he will repay him for his deed." - Proverbs 19:17
This biblical verse resonates deeply within the Filipino community, reflecting the heartfelt generosity that fuels the billions in remittances sent home annually. Countries like India, China, and The Philippines stand as the top recipients of these funds, with The Philippines receiving $34 billion annually, a significant contribution that accounts for 8.5% of its GDP. This figure not only highlights the economic importance of remittances but also underscores the potential of digital currencies in enhancing the efficiency and impact of these transactions.
Imagine a scenario as described by Michael Saylor, where Bitcoin acts as "digital energy," capable of being sent across the globe and converted into local currencies without the exorbitant fees that diminish the hard-earned money sent to loved ones. Saylor's vision of sending a "billion-dollar block" of Bitcoin and converting it into local energy—in this case, economic energy for families—is a testament to the revolutionary potential of digital assets.
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." - Jeremiah 29:11
As stewards of God’s love and compassion, the opportunity to utilize digital currencies could represent a newfound way to prosper families back home, ensuring that the fruits of labor are maximized, not minimized by transaction costs. The World Bank highlights that the average cost of sending $200 to the Philippines is around 4%, a significant portion that could otherwise support the growth and wellbeing of families.
The Filipino economy, with agriculture employing 24% of its workforce and contributing to 8.9% of its GDP, demonstrates the immense energy—both physical and economic—that goes into sustaining and nurturing life. The parallel with digital assets is clear: just as calories are necessary for workers to put food on the table, efficient and equitable financial systems are necessary to ensure the prosperity of families and the broader community.
Therefore, the embrace of digital currencies could be a groundbreaking move for the Filipino economy, ensuring that the hard work and dedication of overseas workers translate directly into growth and prosperity for their loved ones.
"Give, and it will be given to you. A good measure, pressed down, shaken together and running over, will be poured into your lap. For with the measure you use, it will be measured to you." - Luke 6:38
In the hands of our dedicated Filipino medical professionals abroad, the transition to digital assets could amplify their ability to give, ensuring that their generosity is met with the full measure of its intent, unhindered by unnecessary fees or delays. It’s a future where technology meets compassion, allowing faith, finance, and family to flourish together in the digital age.
As we ponder this future, let us remember the strength of our faith and the promise of innovation, working hand in hand to create a world where the energy of our labor and the depth of our love are fully realized, blessing families and communities across the Philippines and beyond.
Copyright ©️ 2024 Sir Roy G. Biv
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