Tech Mahindra, US startup team up for blockchain-based security application
IT services and consulting firm Tech Mahindra has announced a collaboration with San Francisco-headquartered data security startup i2Chain to build a blockchain-based cybersecurity solution.
Pune-headquartered Tech Mahindra said in a statement that it is looking to help enterprises transact more securely with the help of the application, which is compliant with the European Union’s General Data Protection Regulation.
The Indian company said that the collaboration would provide its customers with an intuitive application to secure enterprise data assets throughout the entire life cycle of the data.
The application would also make identities tamper-proof while fully accessible to support audits and forensic investigations.
The solution, once built, could substantially reduce the frequency of security-related incidents and thus bring down budgets as well.
Vivek Agarwal, head of corporate development and portfolio companies at Tech Mahindra, said that the size and volume of data growth owing to the advent of 5G networks has also thrown a challenge to enterprises to provide an agile and responsive data security module that can be affordable too.
“I am excited to see that i2Chain can be leveraged as a strategic tool to secure high speed and high-volume information transactions especially in highly-regulated industries including finance, media & telecom, and healthcare,” said Agarwal.
Tech Mahindra will also provide consulting and services for the planning, support and deployment of the applications.
Tech Mahindra has been looking to explore emerging technologies such as blockchain, artificial intelligence, machine learning, IoT and 5G.