Tata Consultancy Services (TCS) has revealed that it will use Microsoft Azure Blockchain cloud and R3’s “Corda Enterprise” blockchain platform to establish a blockchain-based solution for its customers. Areas that TCS have been researching include asset monetization, assets in common, tokenization, digital identity, as well as track and trace technology.
TCS’s headquarter is located in India’s largest city, Mumbai. The partnership is expected to help TCS seek ways to monetize these blockchain-enable solutions.
According to TCS Global Head of Blockchain Lakshminarasimhan Srinivasan, “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,” Srinivasan added.
R3 CEO David E Rutter said,
This alliance … represents a rare opportunity for us to learn and develop solutions alongside one another. 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.
Meanwhile, Microsoft Corporate Vice President Gavriella Schuster stated, “Microsoft has been in the forefront of helping enterprises adopt blockchain technology with its Azure Blockchain offerings and DevOps kits.” She added, “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.”
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