Computrade Director: Blockchain can Eradicate Corruption, Red Tape

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Computrade Technology Philippines Inc. (CTPI) recently concluded its Annual Technology Summit 2018 at Dusit Thani Manila in Makati. With new partnerships under its belt, it held a talk on how the blockchain could eradicate red tape in the country.

Philippines and Blockchain

The Philippines is slowly opening its doors to the blockchain and cryptocurrency. Although a lot of people are more exposed to bitcoin rather than the technology behind it, it is still a step towards awareness.

One of the pioneers of using the blockchain technology in the country is Union Bank. It partnered with Visa for B2B Connect, a system that can facilitate cross-border payments.

Mr. Teddy Sumulong, Managing Director of¬†Computrade Technology Philippines Inc. (CTPI) shared that the blockchain may have the strength to crush the country’s corruption problem. Since it can deal with the users directly, this new technology can cut the middlemen. In some cases, such middlemen are the culprits in corruption and red tape.

“It really cuts the middle person out, so we can have a nice credible transaction without a bank in the middle. ¬†So it becomes more efficient. ¬†At the same time, it becomes faster.”¬†–¬†Mr. Teddy Sumulong, Managing Director,¬†Computrade Technology Philippines Inc.

CTPI New Partnerships

In order to stay abreast of new technology and to be globally competitive, CTPI secured three new partnerships.

  • Varonis – governance solutions innovator
  • SAS – global data analytics leader
  • Flowmon Networks – high-performance network management professionals.

“We are excited at the possibility that we will be able to contribute our share in enabling Filipino enterprises and individuals as well to take full advantage of an emerging technology,”¬†–¬†Mr. Teddy Sumulong, Managing Director,¬†Computrade Technology Philippines Inc.

Computrade Technology Philippines Inc is a local unit of PT Computable Technology International from Jakarta. It is a leading distributor and provider of infrastructure and IT solutions in Southeast Asia.

Source: The Standard

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