The Crypto Times
Image default
Blockchain Government News

Tech Mahindra Partners with US Firm Adjoint to Roll-Out Blockchain Finance Management Solution

Tech Mahindra is collaborating with distributed ledger technology (DLT) company Adjoint to develop and release blockchain-powered finance management and insurance solution. Telecom news site CommsMEA broke the news about this latest partnership on Sept. 2.

According to reports, Tech Mahindra’s purported blockchain solution will be a first in many ways. The service will reportedly enable clients to save around $4 million for every billion of banking relationships and financial risk management they conduct. 

Safe and Personalized Environment

Users of Tech Mahindra’s system will reportedly be able to authenticate business cases using their own data in a safe and personalized environment. It will also assist in eliminating double data and out-of-order entries. 

The solution designed by the Mahindra Group’s subsidiary will reportedly also provide auditors with access to unalterable records of every transaction. This will help facilitate reporting and compliance. 

The system developed by Adjoint and Tech Mahindra is said to be based on the open-source DLT platform UpLink. It is aimed at ensuring financial procedures management is compliant. The platform boasts of a dedicated messaging code and consensus device intended to allow participants in the blockchain structure to determine what data is entered in the distributed ledger. 

India’s Teelcom Regulatory Authority

This financial management system is the latest offering coming from the India-based IT giant. The company announced a blockchain-founded anti-spam phone call solution several months ago. The initiative would allow phone companies to adhere to the regulations of India’s Telecom Regulatory Authority regarding safeguarding mobile phone users from unsolicited calls. 

Tech Mahindra has also entered into an agreement with Samsung SDS in a bid to enter the global blockchain market.

Related posts

Bank of France Governor Admits They’re Closely Monitoring Developments in Stablecoin

Viena Abdon

40 Central Banks Exploring Digital Currencies

Viena Abdon

Man Suspected of Stealing $9 Million Worth of Dash Currency Finally Indicted

Viena Abdon

Overstock Keeps Retailing, Supporting Blockchain and Crypto Projects

Viena Abdon

Why Esports and Cryptocurrency are Now Tied Together

Viena Abdon

Velocity Ledger ICO Receives Approval from Bermuda Ministry of Finance

Viena Abdon