To further strengthen the group’s suite of information and communications technology offerings, Philippine-based Telecommunications Company PLDT, announced that its corporate business unit, PLDT Enterprise, has signed a memorandum of understanding with Ohelio, Inc. to produce a blockchain-powered document and digital signature platform.
According to its statement, the agreement will use Twala, an app that allows users to sign legally binding documents through a laptop or smartphone.
Twala is a product of Ohelio, a blockchain technology startup, and is used to issue tamper-proof digital credentials.
“Through our partnership with Ohelio Inc., we bid to offer a product solution that can digitally facilitate the signing process of companies, leveraging the immutability nature of blockchain technology, to easily manage and execute company undertakings with confidence,” said Melvin Jeffrey Chan, Vice President of PLDT and Head of PLDT Enterprise Innovations and IoT Business Development.
Chan added that his team will target to offer a more advanced Twala app to the public, since it will be under ePLDT, the information and communications technology (ICT) arm of PLDT Enterprise.
“The company’s blockchain network was designed to enable digital trust, security, and compliance for several ecosystems,” Jeffrey Reyes, co-founder and CEO of Ohelio Inc., stressed.
He also highlighted that a lot of features in Twala can be enjoyed by the users, including Twala ID, a self-sovereign identity on the blockchain, and Twala Sign which is used for connected, smart, and self-executing code-based document signing.
“The said technology will enable different sectors such as the government which they can use for valid IDs and license applications, the health care sector for the processing of health records, and medical insurance; and the banking sector for acquiring different financial services, among others,” PLDT Enterprise concluded.
Twala is part of the latest cohort of the Ideaspace Accelerator Program, a year-long program for early-stage startup founders.
Recently, PLDT Enterprise announced that it also partnered with Filipino startups QBO Innovation Hub and Ideaspace “to discover and co-innovate viable startup business ideas, products, and innovations.”
This article is published on BitPinas: PLDT Partners with Ohelio to Offer Blockchain Smart Contracts Solution
Disclaimer: BitPinas articles and its external content are not financial advice. The team serves to deliver independent, unbiased news to provide information for Philippine-crypto and beyond.