Tata Consultancy Services (TCS) is developing a number of scalable cross-industry blockchain platforms using Microsoft’s Azure Blockchain and R3’s Corda Enterprise blockchain platform.
TCS is a leading provider of IT services, consulting, and business solutions. Headquartered in Mumbai, TCS is one of the largest Indian companies by market capitalization. Last year, the company was named a Microsoft Azure Expert MSP (Managed Service Partner) by Microsoft.
Blockchain is the hottest technology today that is transforming the way assets, contracts, and data are shared and exchanged. It is a transparent and shared ledger that is distributed among a number of computers, instead of having a central entity.
TCS is already a blockchain player, deploying its Quartz Blockchain solutions for the financial industry. Quartz reduces duplication, built trust, and encourage collaboration. Now the company is well-positioned to deploy blockchain solutions across industry domains and drive blockchain adoption.
“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,” said Lakshminarasimhan Srinivasan, Global Head, Blockchain Services, TCS.
“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.”
Enterprises around the world have started to go beyond blockchain experimentation and exploration. They need blockchain platforms on which scalable solutions can be developed.
To meet this demand, Tata Consultancy Services is creating five blockchain platforms. These platforms include digital identity, track and trace, assets in common, asset monetization, and tokenization. For these horizontal platforms, TCS is leveraging Microsoft’s Azure Blockchain and R3’s Corda Enterprise blockchain platform.
Azure Blockchain helps enterprises to develop, test, and deploy secure blockchain applications. Whereas, R3 is a leading enterprise blockchain software firm that works with over 300 members and partners across multiple industries. These partners develop on Corda which is available as open source blockchain platform, as well as a commercial platform for enterprise usage.
“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,” said David E Rutter, CEO, R3.
“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.”
Leveraging these solutions will help TCS to quickly develop and deliver application layer solutions, the company said. TCS will scale up hybrid cloud infrastructure with new capabilities and a micro-services architecture. This will aid enterprises in their digital transformation journey while unlocking new business value.
“Microsoft has been in the forefront of helping enterprises adopt blockchain technology with its Azure Blockchain offerings and DevOps kits,” said Gavriella Schuster, Corporate Vice President, One Commercial Partner, Microsoft.
“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.”
Image source: TCS