Tech Mahindra joins ChromaWay to bring Blockchain technology to India

IT major Tech Mahindra on Thursday announced a partnership with Stockholm-based ChromaWay to deliver a new Blockchain technology for the Indian market.

The two companies will focus on developing core ChromaWay technologies into applications for a range of use, primarily around land registration and real estate processes.

The work will build on ChromaWay's experience in building blockchain solutions for government agencies in Sweden and Andhra Pradesh, the company said in a statement.

"Distributed ledger technology is becoming mainstream. We have found ChromaWay's solution quite powerful; something that can definitely help address some of the challenges our public sector has," said Vivek Agarwal, Global Head Enterprise Verticals Solutions and Portfolio Companies at Tech Mahindra.

ChromaWay and Tech Mahindra aim to build on the existing strong relationship with the governments and then expand to other states.

"With our Blockchain-powered consortium database technology, and their extensive expertise, we can together begin to build the next generation of secure, open and sustainable digital architecture for the connected world," added Henrik Hjelte, CEO of ChromaWay.

This partnership represents an opportunity to leverage our open source consortium database technology to bring real and measurable improvements to society by empowering individuals, fighting corruption, and fostering collaboration, he added.

The Blockchain Centre of Excellence (CoE) at Tech Mahindra has been focusing on building enterprise grade solutions to help customers across various sectors and multiple geographies.

The long-term focus of the $4.7 billion company Tech Mahindra -- part of the $19 billion Mahindra Group -- is to provide a holistic blockchain transformation by offering platform, integration, infrastructure, networking service for an end-to-end blockchain led transformation to its customers.

--IANS

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