PLDT to offer blockchain smart contract solutions

PLDT Enterprise is teaming up with local blockchain technology startup Ohelio Inc. to offer blockchain smart contract solutions.

The two parties signed a memorandum of understanding to co-innovate and productize a blockchain-powered document and digital signature platform.

Melvin Jeffrey Chan, PLDT vice president and head of enterprise innovations and IoT business development, said Ohelio’s Twala Sign would be added to the company’s slew of products as an emerging technology solution.

Twala is an app that allows users to easily sign legally binding documents through a laptop or smartphone and can also be 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,” Chan said.

A blockchain technology startup based in Manila, Ohelio aims to digitally transform paper-based workflows and reduce document fraud with blockchain smart contracts.

Jeffrey Reyes, Ohelio co-founder and CEO, said the company’s blockchain network was designed to enable digital trust, security, and compliance for several ecosystems.

It features 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.

Reyes said the technology would 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.