With an ambition to enter the global blockchain market, Samsung SDS has entered into a partnership with Indian IT firm Tech Mahindra. SDS, a subsidiary of Samsung, is aiming to increase the use of its blockchain platform, Nexledger, in India, the Europe and US.
Under the agreement, both parties will try to gain more business in the region. Furthermore, Samsung SDS will collaborate with Tech Mahindra on future updates of Nexledger.
The blockchain security platform Nexledger was launched in 2017. Since then, it has been deployed in manufacturing, finance, logistics and other areas. For example, the blockchain based solution was tested in customs logistics by Korea Customs Service. The test had participants from 48 organizations, including shipping companies, insurers and public sector agencies.
Commenting on the partnership, Mahn Chey, President of Samsung SDS India said, “We are proud to announce our joint efforts to promote Nexledger in the global market with Tech Mahindra. As a company that believes in the value the blockchain technology will bring, Samsung SDS has dedicated its efforts to develop a blockchain platform, Nexledger, that meets the enterprise needs in the business sector. Together with Tech Mahindra, we look forward to delivering blockchain powered digital transformation to our clients.”
Similarly, Rajesh Dhuddu, Global Practice Leader — Blockchain at Tech Mahindra, said, “As part of our TechMNxt charter, we are invested in creating a partner ecosystem to leverage next generation technologies and platforms to provide enhanced experience to our customers. As a step towards the same, we are delighted to partner with Samsung SDS and look forward to leveraging their market research, proprietary Blockchain platform Nexledger that has proven ability to automate a complex Blockchain network deployment and maximise transactions not only on their native platform but also on Hyperledger and Ethereum. This partnership will also enhance our reach in Korean, India and other APAC markets, maximise the joint offerings through a combination of respective platforms, Tech Mahindra’s System Integration skills and Innovation centres in India.”
Following a successful trial with Hyperledger Fabric, recently, Samsung SDS revealed the launch of Nexledger Accelerator, a custom-built blockchain accelerator technology for increasing transaction speed of processing. Last month, Mahindra supposedly tutored 70% of its staff to handle latest technologies, including AI, blockchain, Internet of Things and cybersecurity.
Furthermore, Mahindra has earlier utilized IBM blockchain technology in order to develop a solution for invoice discounting between its auto division and suppliers. IBM also stated that it is investigating the possible use of blockchain to track spare parts and better auto recalls.
