India: Giant Tech Mahindra To Cooperate With Samsung On Blockchain Tech

News is coming out that Samsung subsidiary Samsung SDS is reportedly working with Indian IT firm Tech Mahindra on blockchain initiatives that focuses on international blockchain markets, according to The Korea Times.

Source: The Korea Times

The two parties have agreed to form business ties that would see the use of Samsung’s Nexledger platform to the end of finding more business opportunities in India, the United States and Europe. The system integration arm of Samsung said,

Samsung SDS agreed to cooperate with Tech Mahindra to expand the usage of the Nexledger platform overseas.

Nexledger was launched in 2017, and was built with the aim of assisting enterprise entities who are “looking for a cost-efficient method of managing digital financial transactions and data exchange.”

India’s Tech Mahindra is one of the country’s largest IT firms and works with over 900 companies across the world, and generates a revenue of just under $5 billion.

Samsung and Blockchain

Samsung is quite keen on blockchain technology, as evinced by the in-built wallet and support for cryptocurrencies in their new flagship phone, the Samsung Galaxy. Enterprise efforts such as this collaboration with Tech Mahindra indicates that the company sees a lot of potential in the space, and their two-pronged approach of both consumer and enterprise support shows that their involvement is quite serious.

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