Indian IT giant Tech Mahindra is reportedly set to collaborate with Samsung SDS in attempting to enter the overseas blockchain market.
As reported by Cointelegraph, Samsung SDS — the systems integration subsidiary of South Korean tech conglomerate Samsung — is said to be planning to expand the use of its Nexledger blockchain security platform in India, Europe, and the United States.
According to their agreement, the two companies will seek more business opportunities in the region, while working together on future updates to the Nexledger platform.
Nexledger was launched in 2017 and has since been adopted in areas such as finance, manufacturing, and logistics. A notable example was when the solution was piloted by the Korea Customs Service in its export customs logistics services. A total of 48 different organizations, which included public agencies, shipping, and insurance firms, also joined the trial.
Samsung SDS recently announced the launch of its own blockchain accelerator technology, known as Nexledger Accelerator. The announcement followed a test with Hyperledger Fabric that was reported as a success, with the solution improving transaction processing speed.
Last month, Tech Mahindra’s parent company, Mahindra, trained 70% of its IT workforce to operate new innovations, including blockchain, artificial intelligence (AI), Internet of Things (IoT), and cybersecurity. Tech Mahindra has also partnered with academic institutions around the world, including the University of Berkeley, University of Suffolk, and the University of Sydney.
Mahindra has previously utilized IBM blockchain technology to devise a solution for discounting invoices between the firm’s auto division and suppliers. Additionally, IBM said the company is investigating how to employ the technology to trace parts while improving auto recalls.
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