Mar 15, 2019 06:16 UTC
Mar 15, 2019 at 06:24 UTC
Tata Consultancy Services to Develop Scalable Blockchain Adoption
TCS (Tata Consultancy Services), a leading IT services, consulting and business solutions company, announced on Thursday that it is developing solutions to drive scaled adoption of blockchain using technologies from Microsoft and R3 firms.
As enterprises are gearing up to go beyond exploration and experimentation with blockchain technology, TCS sees the need for some horizontal cross-industry platforms on which scalable solutions can be developed rapidly. The company is planning to scale up hybrid cloud infrastructure with new micro-services architecture that will help the customers to transform their business while uncovering new business value virtually.
The platforms will be sitting on the Microsoft Azure blockchain cloud harnessing the full potential of R3’s Corda Enterprise blockchain platform. This will allow TCS to develop and deliver the application layer solutions promptly.
TCS is reportedly developing five blockchain platforms including digital identity, track & trace, tokenization, asset monetization and assets in common. According to the reports, the IT services firm has already identified numerous solution opportunities and is currently building them out by leveraging their respective partner and customer network.
Lakshminarasimhan Srinivasan, Global Head of Blockchain Services at TCS, said –
“By collaboratively identifying the base capabilities needed for disruptive ecosystem use cases and by extracting reusable assets from engagements that we have executed, we are in a strong position to build and test minimum viable platforms for customers. Some of the anchor solutions that we are building on these platforms include skills marketplace, anti-counterfeiting of luxury goods, affordable mobility, shared telecom infrastructure for 5G, and loyalty and rewards programs.”
Gavriella Schuster, Corporate Vice President at Microsoft, said –
“Microsoft has been in the forefront of helping enterprises adopt blockchain technology with its Azure Blockchain offerings and DevOps kits. This relationship would be valuable in accelerating adoption of these toolkits as well as in identifying future needs for rapid solution development and cloud hosting.”
David E Rutter, CEO of R3, said –
“This alliance is not just about bringing together each company’s products and services. It represents a rare opportunity for us to learn and develop solutions alongside one another so that the partnership is more than the sum of its parts. It also provides a valuable ability to leverage joint networks of customers and partners to rapidly accelerate the adoption of Corda in key focus areas for R3, such as insurance, asset tokenization and digital identity verification.”