Home » India’s Tech Mahindra Launches a Blockchain Finance Management

India’s Tech Mahindra Launches a Blockchain Finance Management


Indian conglomerate Mahindra Group’s IT subsidiary Tech Mahindra has decided to partner with Adjoint, an American distributed ledger technology (DLT) firm, for the purpose of launching a blockchain financial management and insurance solution.

On Sept. 2, CommsMEA, a Telecommunications industry news outlet, reported that the solution — the first of its kind — will allow clients to save $4 million out of every $1 billion financial risk management and banking relationships.

System audit

With the new system, users will use their own data kept in their own secure environment to validate the business case, thereby aid elimination of double data and out-of-order entries.

Auditors will rely on an immutable record of all transactions to easily report and comply with the necessary regulations.
UpLink — an open-source DLT platform — is what the system is built upon as it enables compliant modern financial processes management to be run.

Participants in the blockchain ecosystem are able to gauge the data to be put on the distributed ledger via the platform’s dedicated messaging protocol and consensus mechanism.

Other blockchain initiatives

This summer, Tech Mahindra released a blockchain-based anti-spam phone call solution that enables phone companies to protect mobile phone subscribers from unsolicited calls through complying with the regulations of Telecom Regulatory Authority of India’s
In April, Samsung SDS reportedly agreed to collaborate with Tech Mahindra in order to make strides in the overseas blockchain market.

Sources: https://cointelegraph.com/news/indian-it-giant-tech-mahindra-to-launch-blockchain-finance-management

About the author

James Lovett

James Lovett

James is a passionate writer on cryptocurrency industry and other disruptive technologies in the crypto world. He has written several crypto articles for numerous websites and blogs over the years.

Add Comment

Click here to post a comment

The following GDPR rules must be read and accepted:
This form collects your name, email and content so that we can keep track of the comments placed on the website. For more info check our privacy policy where you will get more info on where, how and why we store your data.

Trending Now