Davao City business chamber to explore blockchain use for agri, other sectors
THE DAVAO City Chamber of Commerce and Industry, Inc. (DCCCII) has taken the first step in exploring possible applications of blockchain to help local industries expand. “We look forward to integrate blockchain technology on our businesses, be it on agriculture, banking and finance, heavy industries etc.,” said DCCCII President Arturo M. Milan after a blockchain forum during the group’s 4th General Membership meeting last week. “However, we are still studying on how we can take advantage of this so we can help more businesses to grow,” Mr. Milan added. Blockchain, originally developed for the cryptocurrency bitcoin, is a new technology that allows secure and joint data sharing and management. “The distribution of database system or blockchain is happening all over the world. Top brands and companies are already employing it. It is a platform for greater security, safety and speed in doing business today. Now the only question now is how enterprises will utilize this technology,” said Anthony N. Pangilinan, business advisor for TraXion by Pluma Technologies, who was one of the speakers during the event. Chief Executive Officer Ann Cuisia of Traxion. tech, a blockchain-powered company, meanwhile, warned the DCCCII members against online scams. “I encourage everyone to be vigilant against investment opportunities that appear to be ‘too good to be true,’ especially on bitcoins and other cryptocurrency. Cryptocurrency is one of the products of blockchain technology and should never been used for criminal acts,” she said.