APAC CIOOutlook

Advertise

with us

  • Technologies
      • Artificial Intelligence
      • Big Data
      • Blockchain
      • Cloud
      • Digital Transformation
      • Internet of Things
      • Low Code No Code
      • MarTech
      • Mobile Application
      • Security
      • Software Testing
      • Wireless
  • Industries
      • E-Commerce
      • Education
      • Logistics
      • Retail
      • Supply Chain
      • Travel and Hospitality
  • Platforms
      • Microsoft
      • Salesforce
      • SAP
  • Solutions
      • Business Intelligence
      • Cognitive
      • Contact Center
      • CRM
      • Cyber Security
      • Data Center
      • Gamification
      • Procurement
      • Smart City
      • Workflow
  • Home
  • CXO Insights
  • CIO Views
  • Vendors
  • News
  • Conferences
  • Whitepapers
  • Newsletter
  • Awards
Apac
  • Artificial Intelligence

    Big Data

    Blockchain

    Cloud

    Digital Transformation

    Internet of Things

    Low Code No Code

    MarTech

    Mobile Application

    Security

    Software Testing

    Wireless

  • E-Commerce

    Education

    Logistics

    Retail

    Supply Chain

    Travel and Hospitality

  • Microsoft

    Salesforce

    SAP

  • Business Intelligence

    Cognitive

    Contact Center

    CRM

    Cyber Security

    Data Center

    Gamification

    Procurement

    Smart City

    Workflow

Menu
    • Oracle
    • Cyber Security
    • Hotel Management
    • Workflow
    • E-Commerce
    • Business Intelligence
    • MORE
    #

    Apac CIOOutlook Weekly Brief

    ×

    Be first to read the latest tech news, Industry Leader's Insights, and CIO interviews of medium and large enterprises exclusively from Apac CIOOutlook

    Subscribe

    loading

    THANK YOU FOR SUBSCRIBING

    • Home
    Editor's Pick (1 - 4 of 8)
    left
    Exploring the Internet of Things

    Dave Neitz, CIO, CDM Smith

    Practicing the Change

    Glenn Coles, CIO, Yamaha Motor Corporation

    ORACLE's Cloud Service

    Martin Ingram, CIO & SVP, Arise Virtual Solutions

    Being a CIO

    David Banger, CIO, John Holland

    True SDN and the Networking Revolution

    Stu Bailey, Founder & Chief Technology Officer, Infoblox

    Acquiring Talent with Sense of Urgency Remains a Challenge

    Tony Scotto,

    Exploring Further Possibilities in 'Work-at-Home-Workforce' Trend

    Dave Pearson, Executive Vice President & CIO, Sykes Enterprises

    Visual Understanding on Systems is Important in Dealing with Industry Complexities

    Bob Fecteau, CIO, SAIC

    right

    Forging the Future with Blockchain: A Game-Changing Technology

    Edwin R. Bautista, President and CEO, Union Bank of the Philippines

    Tweet
    content-image

    Edwin R. Bautista, President and CEO, Union Bank of the Philippines

    In an article featured in gartner.com, it says: CIOs should begin to embrace blockchain to explore strategic business initiatives, but avoid falling for the hype. As blockchain evolves beyond bitcoin and the financial sector, large companies are looking to the technology for potential solutions to business challenges and to explore new disruptive business opportunities.

    According to a CIO survey conducted by Gartner, only 1 percent of CIOs who responded indicated any kind of blockchain adoption and only 8 percent are in the short-term planning and pilot execution.

    Blockchain technology is a game changer across all industries. In this day and age, we want to be a disruptor rather than being disrupted. Rather than adopt a wait-and-see attitude, we want to embrace a more hands-on approach to forge the future rather than watch it unfold.

    Though several companies and local banks are still carefully assessing the impact of blockchain technology on the banking industry, there are a few who have chosen to take on a more active role.

    Blockchain is capable of revolutionizing the financial system and could provide a solution to the many challenges of providing financial services to the millions of unbanked Filipinos.

    Having this in mind, Union Bank of the Philippines has launched several internal and external blockchain applications.
    In 2016, the bank started an internal exploration of blockchain applications, and for the first time envisioned applying the technology to drive financial inclusion in the Philippines. From this vision, Project i2i, which stands for “island-to-island”, “institution-to-institution”, and “individual-to-individual”, was born. This nationwide project enables and facilitates financial transactions in remote areas and empower the rural bank in the Philippines.

    In early 2018, Visa and UnionBank announced the successful pilot of bank-to-bank cross-border payments using the Visa B2B Connect platform using the blockchain technology. Visa B2B Connect takes on an innovative approach and eliminates friction for cross-border transactions by using distributed ledger technology to enhance the speed, security and reliability of these transactions.

    Blockchain platform is also used in the internal distribution of operating manuals. Taking this process to the blockchain will allow for an easier way to disseminate information across the entire corporate system as well as for a more streamlined way to update any manual or circular should the regulating body release a new set of rules and regulations. Blockchain platform for general circulars is seen to benefit both partners and customers in non-financial related matters in the long run.

    In order to ensure the continuous upskilling and future proofing of individuals especially on blockchain, the Blockchain Institute was created. It is a six-month program to equip developers to learn capabilities focused on the blockchain.

    Learning about blockchain is just one of the many components of the program. It is an innovation lab that offers not just coding and development but also actual use cases in the organization and provides working blockchain solutions. This gives them a chance to solve real problems that mere joining a seminar or an online course can’t provide.

    Sourcing these talents was done via social media wherein 500 potential cadets signed up within three days. Chosen cadets’ competencies are of information technology, computer science, and engineering from different universities and colleges in the country. Apart from the basic computing skills, the bank also assessed the cadets based on their passion for innovation, resiliency, and their personal values.

    Clearly, blockchain creates a profound and significant impact on a multitude of operations. And in an age of digital disruption where it’s best to play the disruptor rather than the disrupted, we have to remain in constant search and use of groundbreaking technologies like blockchain in order for us to thrive in tomorrow’s world.

    tag

    Financial

    Information Technology

    Weekly Brief

    loading
    Top 10 Oracle Solution Companies - 2020
    ON THE DECK

    Oracle 2020

    I agree We use cookies on this website to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies. More info

    Read Also

    Modernizing Lending Through Innovative, Secure and Scalable Technology

    Modernizing Lending Through Innovative, Secure and Scalable Technology

    Steven Meek, Chief Information Officer, Pepper Money
    Advancing the Chemical Industry through Digital Transformation

    Advancing the Chemical Industry through Digital Transformation

    Jan Mandrup Olesen, Global Head of Digital Business, Indorama Ventures
    Cultivating a Sustainable Future through Collaboration

    Cultivating a Sustainable Future through Collaboration

    Jiunn Shih, Chief Marketing, Innovation & Sustainability Officer, Zespri International
    Mastering Digital Marketing Strategies

    Mastering Digital Marketing Strategies

    Tasya Aulia, Director of Marketing and Communications, Meliá Hotels International
    Building a Strong Collaborative Framework for Artificial Intelligence

    Building a Strong Collaborative Framework for Artificial Intelligence

    Boon Siew Han, Regional Head of Humanoid Component Business & R&D (Apac & Greater China), Schaeffler
    From Legacy to Agility Through Digital Transformation

    From Legacy to Agility Through Digital Transformation

    Athikom Kanchanavibhu, EVP, Digital & Technology Transformation, Mitr Phol Group
    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Change Management for Clinical Ancillary Teams: Aligning Practice with Policy and Progress

    Ts. Dr. James Chong, Chief Executive Officer, Columbia Asia Hospital – Tebrau
    Digital Transformation: A Journey Beyond Technology

    Digital Transformation: A Journey Beyond Technology

    John Ang, Group CTO, EtonHouse International Education Group
    Loading...
    Copyright © 2025 APAC CIOOutlook. All rights reserved. Registration on or use of this site constitutes acceptance of our Terms of Use and Privacy and Anti Spam Policy 

    Home |  CXO Insights |   Whitepapers |   Subscribe |   Conferences |   Sitemaps |   About us |   Advertise with us |   Editorial Policy |   Feedback Policy |  

    follow on linkedinfollow on twitter follow on rss
    This content is copyright protected

    However, if you would like to share the information in this article, you may use the link below:

    https://oracle.apacciooutlook.com/cxoinsights/forging-the-future-with-blockchain-a-gamechanging-technology-nwid-6305.html