You are here: Home » News-IANS » Business-Economy
Business Standard

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

Topics
Technology Internet

IANS  |  Hyderabad 

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

ms/tsb

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, August 03 2018. 18:12 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU