Tech Mahindra, Nucleus Vision to implement blockchain in retail, telco

Tech Mahindra, a leading provider of digital transformation, consulting and business re-engineering services and solutions, on Friday announced a strategic partnership with Nucleus Vision (NV), India's biggest blockchain company.

Under the partnership announced at the International Blockchain Congress (IBC) here, Tech Mahindra will provide the technological expertise to broaden Nucleus Vision's business reach, and will leverage its telecom affiliates to promote the offering at a global level.

This strategic partnership marks the beginning of Nucleus Vision's global expansion strategy and Tech Mahindra's foray into the blockchain market.

Founded in 2014, Nucleus Vision has made inroads into the Indian retail market with this new technology, an Internet of Things (IoT) and blockchain-based customer identification platform ION which is being implemented for the first time in India.

"This collaboration is a testimony of Tech Mahindra's commitment to enable, guide and support start-ups and companies leveraging next gen technologies. The aim of this partnership is to harness Blockchain-led innovation, and to channel it globally, by giving access to our vast and expansive customer ecosystem," said C.P. Gurnani, CEO and MD, Tech Mahindra.

"Our product is highly customizable and has use across several verticals. We have proven its use and benefit in the retail space, and by having this partnership with Tech Mahindra, we will reach out to a vast and global network," said Abhishek Pitti, CEO, Nucleus Vision.

The IBC also witnessed the launch of India's largest blockchain initiative, 'Eleven01 Protocol'.

A joint collaboration between Tech Mahindra and the Eleven01 Foundation, the initiative aims to foster a cutting-edge ecosystem for blockchain startups in India.

The Eleven01 foundation is a blockchain conglomerate that provides services across the blockchain ecosystem and has partnered exclusively with Tech Mahindra for technology innovation to create the Eleven01 Protocol - an emerging market centric blockchain protocol with government compliance standards, which serves as a foundation for decentralised applications.

Tech Mahindra is playing a pivotal role in the Eleven01 initiative as a partner to co-develop the technology and platform.

--IANS

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