Tech Mahindra and Samsung Partner to Seek Blockchain-Related Business Opportunities

Tech Mahindra and Samsung Partner to Seek Blockchain-Related Business Opportunities

Samsung SDS, the logistics and IT arm of South Korean tech conglomerate Samsung, has joined hands with Indian IT services giant Tech Mahindra to pursue potential business opportunities revolving around blockchain technology in India and globally.

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SDS, Tech Mahindra Hope for a Win-Win Partnership

According to The Korea Times, the joint effort will purportedly drive the expansion of SDS’s enterprise-grade blockchain platform Nexledger.

First announced in 2017, Nexledger is a permissioned distributed ledger platform using the cloud computing model. The enterprise-grade platform is often touted for its ability to automate the deployment of complex blockchain functions to meet businesses specific requirements.

Acknowledging the partnership, SDS stated “Samsung SDS agreed to co-operate with Tech Mahindra to expand the usage of the Nexledger platform overseas.”

Both tech brands are hoping the alliance is a win-win situation. With the partnership, Nexledger could increase its market reach by serving Tech Mahindra’s vast international clientele network.

Similarly, the partnership will allow Tech Mahindra to offer its clients direct access to SDS’s thoroughly tested next generation blockchain platform. For example, last year SDS inked a deal with the South Korean Customs Services to deploy Nexledger for a customs clearance system.

In another instance, SDS collaborated with Dutch banking powerhouse ABN AMRO to test distributed ledger tech (DLT) in shipping logistics.

Over the period, Nexledger has delivered several applicable use cases in various sectors such as logistics, finance, and others.

As such, the alliance will allow both tech giants to commercialize many of these proofs-of-concept.  

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Cashing in on Rising Blockchain Demand

Blockchain technology is witnessing increasing demand among enterprises globally. Just days ago, Oracle’s Vice President of blockchain product development Frank Xiong said that over 50 percent of all enterprises would be using blockchain technology in a few years.  

He also stated that the adoption of DLT among enterprises is accelerating lately.

As such, SDS and Tech Mahindra hope to cash in on this rising interest by offering an easily suitable applicable solution that can easily be deployed.

In February, SDS revealed a new DLT solution dubbed Nexledger Accelerator, to expedite blockchain transactions. Interestingly, the Nexledger Accelerator has been successfully tested with IBM’s Hyperledger Fabric.

Even its alliance partner Tech Mahindra has been actively working with distributed ledger technology. Reportedly, the IT services giant trained about 70 percent of its workforce in future technologies, including blockchain.

Meanwhile, another Indian IT services powerhouse. Tata Consultancy Services, is developing several decentralized projects leveraging R3’s blockchain platform. Moreover, Bitsonline reported last week that TCS has developed blockchain-powered international remittance solution that can connect to other DLT solutions including RippleNet.

Will blockchain adoption among enterprises double in 2019? Share your views in the comments section.

Images via Tech Mahindra, Pixabay

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