Singapore-based ParityBit, a privacy-enhancing technologies company, was launched recently in the Philippines.

Coming in from Singapore for the launch and to meet the press were ParityBit founder and CEO Dr. Zhen Luo, chief scientist Lintao Zhang, and head of business development Li Li.

ParityBit has subsidiaries in China, United States and HK with over 360 employees worldwide.

It focuses on big data using AI and privacy-enhancing technologies to build an open data ecosystem and data-sharing collaborative environment based on data security and personal privacy protection.

ParityBit said the Philippines is an important market for growth in the fields of cybersecurity, data privacy and protection.

"Singapore and the Philippines have a strong economic relationship which is one of the reasons why we're introducing ParityBit here," Dr. Zhen said.

"The other reason is that we have discovered, in the last two years, a strong demand in the area of cybersecurity technologies because of the compliance and the enforcement of the Personal Data Protection Commission."

ParityBit said it is developing Privacy Enhancing Platform to ensure data can be harnessed with the right degree of protection and authorization.

It said regulators must always keep abreast with the latest trends and technologies.