Tech Mahindra, BlockApps to accelerate blockchain adoption by enterprises

Tech Mahindra, BlockApps to accelerate blockchain adoption by enterprises
Photo Credit: Photo Credit: Reuters
8 Aug, 2019

Indian IT services firm Tech Mahindra will partner with US-based blockchain solutions provider BlockApps to accelerate the adoption of blockchain networks by enterprises.

As part of the acceleration strategy, Tech Mahindra will bring its data and data systems expertise from digital transformation projects and BlockApps will provide its STRATO blockchain platform, the companies said in a statement.

The STRATO blockchain platform, which is built on Ethereum protocols,  provides core enterprise features like flexible API (Application Program Interface) integration capabilities, high transaction performance, and the capability to query and report on blockchain data using traditional business tools.

Blockchain adoption has been poor among enterprises due to the challenge of bringing or adding data from current systems onto the blockchain network.

“Enterprises across the world are proactively seeking new ways of incorporating blockchain technology in their legacy systems. Through Tech Mahindra’s partnership with BlockApps, we have simplified this process, enabling companies to transform their legacy systems into a blockchain-based business network without disruption,” Rajesh Dhuddu, global practice leader, Blockchain, Tech Mahindra, said. 

Tech Mahindra also said the new partnership is a part of the company's TechMNxt charter that focuses on leveraging next-generation technologies and solutions for digital transformation.

In April, Tech Mahindra had partnered with Samsung SDS, a unit of South Korean electronics giant Samsung, to develop and provide blockchain solutions. According to the terms of the partnership, Tech Mahindra will offer Samsung SDS's blockchain platform called Nexledger to both its global and Indian customers. 

Last year in August, the Indian IT services firm's chief strategy officer Jagdish Mitra in an interview to TechCircle had said that it was banking on a couple of newly-struck partnerships to scale up its presence in the blockchain space to boost revenues from the distributed ledger technology.