Name Price24H (%)
Bitcoin (BTC)
$10,963.12
-0.79%
Ethereum (ETH)
$380.03
-1.11%
XRP (XRP)
$0.249720
-0.54%
Litecoin (LTC)
$48.15
-0.84%
Tech Mahindra to work with Samsung’s Nexledger blockchain
NEWS

Tech Mahindra to work with Samsung’s Nexledger blockchain

Today it was announced that IT consultancy firm Tech Mahindra is collaborating with Samsung on its Nexledger blockchain platform. India based Mahindra will offer Nexledger as one of its digital solutions, and the companies will work together on tech development.

Tech Mahindra provides various solutions in security, networking, infrastructure, and blockchain. Internationally focused, the $4.77 billion revenue firm has offices in over 60 countries and employees in over 90.

Nexledger, a blockchain platform developed by Samsung SDS, is flexible and scalable with the ability to deliver wide spectrum of customizable use case application services to trusted participants on the fly, based on enterprise specific requirements. Nexledger provides flexibility to developers as they can choose from various blockchain core technologies and consensus algorithms such as NCA (Nexledger Consensus Algorithm), Hyperledger Fabric and Ethereum. Since the launch of Nexledger in 2017, Samsung SDS has secured various use cases in the real business, specifically, in the financial, logistics, and public sector.

Blockchain is the upcoming technology which has been evaluated (in the form of PoCs) by various customers across the globe in last year. This year it is expected that these PoCs will get converted into commercial deployments. Both partners consider Blockchain as a strong focus area in 2019 and will leverage each other’s strengths in various geographies to make this collaboration successful.

It appears that Samsung SDS, the software provider of the Korean technology giant, aims to leverage Mahindra’s global reach and business experience. Nexledger is Samsung’s blockchain platform, released in 2017. Until now, it has mostly been applied in its home country, such as for a Korean customs blockchain and authentication in the Korean banking system.

READ  Binance to reach the Unbanked in Latin America with its New Fiat Gateway

BankSign has also improved the lifespan of each digital certificate – from one to three years. Samsung SDS says this is due to the increased security offered by blockchain. A shared ledger of certificates makes it far harder to forge a certificate. Plus real-time authentication information sharing and encrypted data all contribute to security.

“As a company that believes in the value the blockchain technology will bring, Samsung SDS has dedicated its efforts to develop a blockchain platform, Nexledger, that meets the enterprise needs in the business sector.” says Mahn Chey, Samsung SDS India President.

He continues, “Together with Tech Mahindra, we look forward to delivering blockchain powered digital transformation to our clients.”

Both companies have worked extensively with distributed ledger technology (DLT). Last year, Mahindra started work with Microsoft to use blockchain to fight spam calls.

The plan is to bring the relevant parties onto the blockchain thereby helping telecom firms and telemarketers share information. The data will cover reference registration, consent acquisition, dynamic preference setting, stakeholder onboarding, header registration, template registration, scrubbing service, and complaint handling and tracking.

They hope that sharing data will help create a verifiable and transparent system to deal with spam calls more easily. Tech Mahindra is part of the Mahindra Group that also previously collaborated with IBM to use DLT for supply chain finance as far back as 2016.

Samsung’s software arm had revenues of $11.8 billion in 2018 and recently revealed new technology to accelerate Hyperledger Fabric transactions.

Mahindra’s Global Practice Leader in blockchain, Rajesh Dhuddu, has noted this development when he commented that Nexledger “has proven ability to automate a complex Blockchain network deployment and maximise transactions, not only on their native platform but also on Hyperledger and Ethereum.”

Leave a Comment

Your email address will not be published. Required fields are marked *