Privacy-enhancing tech eyes tapping financial, healthcare firms in Philippines for stronger data privacy, protection – Interaksyon

In this Oct. 19, 2022 photo, Dr . Zhen Luo, founder and CEO of ParityBit presents tech solutions offerings to the members of the press in Makati City. (ParityBit/Released)

A privacy-enhancing technologies company was launched in the Philippines last Wednesday October nineteen.

Singapore-based ParityBit , founded in 2021, focuses on big data using artificial intelligence and privacy-enhancing technologies to build an open information ecosystem plus data-sharing collaborative environment based on data security and personal privacy protection.

The technology firm is also a good enabler and operator of “The Internet of Data and Computing. ” These IoDCs are being developed depending on technologies that protect data privacy plus security, allowing data to be utilized with proper authorization and safety and will be committed to facilitating data-driven commercial opportunities to realize data value.

Philippines and information privacy, security solutions

As it enters the Philippine market, Paritybit’s founder and CEO Dr. Zhen Luo said they are seeking to collaborate along with financial plus healthcare companies in the country. The firm is an industry leader with reputable clients inside finance, healthcare, smart city and the particular public sector among others.

Among the clients using ParityBit’s solutions include Coca Cola, Siemens and Unilever, amongst others.

In the Philippines, Luo said partnerships with businesses such as those in the monetary sector may fast track the particular digitalization associated with the banking industry.

Prior to the launch, on the same day last Wednesday, the members from the company’s leadership team led by Luo, Dr. Lintao Zhang , chief scientist; Li, head of   Business Development and Alex Joo, Business Development director spoke at the Bank Marketing Association of the particular Philippines about the tech solutions they are offering before key industry leaders plus technology executives of top-tier Philippine corporations.

This Oct. 19, 2022 picture shows Li, Head of Business Advancement; Doctor Zhen Luo, Founder and TOP DOG; Dr . Lintao Zhang, Chief Scientist; Alex Joo, Company Development Director. (ParityBit/Released)

The technology company said it believes this is the right time to enter the Filipino market as opportunities within the fields associated with cybersecurity, data privacy and data defense abound worldwide and in Southeast Asia.

He cited that most of the countries are now operating inside a data-driven environment and the Philippines would get more worth from information and protect these data for customers and business enterprises.

The particular Philippines currently faces various privacy issues including concerns on text scams, hacking of email addresses and other data from variety of private and government systems.

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“In the region, the Philippines is one of the key areas where we want to grow our business, ” Luo said.

“Singapore as well as the Philippines have a strong economic relationship which is one associated with the reasons why we’re introducing ParityBit here. The other reason is that will we have discovered, in the last two years, [there is] a strong demand in the area of cybersecurity technologies, ” he added.

Luo said to address information privacy plus protection concern, the tech firm is usually developing the particular Privacy Enhancing Platform (XDP) to ensure data can be harnessed with the right degree of protection and consent.

He additional that ParityBit can provide the necessary needs of authorities and enterprise to promote data and at the particular same time maximize the potential of data.

Through their systems and analytics, ParityBit may unify business organizations that are operating in silos since it can handle several technology issues ranging from cybersecurity and safety issues.

“Anyone who ask us to host information, running an application and or managing an e-business, can tap ParityBit because it is an one-stop solutions provider, ” Luo said.

Meanwhile, the ParityBit exec stated enterprises plus government must work together to discuss the particular challenges in privacy and data protection issues.   He mentioned some federal government agencies might not be aware of solutions that could impact data safety and personal privacy protection.

“Regulators must always keep abreast with the latest trends plus technologies. ParityBit can play a major role within this undertaking by sharing the benefits of its series associated with encrypted computing technologies along with both the government and the private field, ” Luo said.

In view of this, he called on legislators to get a deeper understanding of these technology so they can craft the required laws to enhance the particular cybersecurity situation of a country.

Currently, ParityBit has subsidiaries in China, US and HK with over 360 employees globally. It is still targeting in order to expand globally.   —Rosette Adel