According to a recent report released by The Korea Times, the Indian giant Tech Mahindra will be working with Samsung to enter the blockchain market. In order to do so, Samsung SDS will cooperate with the Indian tech firm.
Tech Mahindra Works With Blockchain Technology
The systems integration arm of Samsung, SDS, will be expanding using the Nexledger blockchain platform in different countries, including India, the United States and also some nations in Europe.
These two companies will be working in order to find more business opportunities in the region. Additionally, Samsung SDS will also be working on future Nexledger updates by cooperating with Tech Mahindra. Nexledger was launched back in 2017 and it has been used int he financial, manufacturing and logistics sectors. This allows firms to improve their services and products by making them more efficient.
In addition to it, according to Cointelegraph, Samsung SDS will be launching its own blockchain accelerator technology that is called Nexledger Accelerator and that would have a positive effect in transaction processing speeds.
Meanwhile, Mahindra has been training most of its employees in order for them to be able to deal with new technologies such as artificial intelligence (AI), the blockchain, Internet of Things (IoT) and many others.
Indian banks are also considering blockchain technology to improve payments in the country. The technology will allow payments to be processed in a secure and efficient way compared to traditional systems.
India has been reluctant to accept the expansion of virtual currencies in the market. In general, the government and local regulatory agencies have taken different measures to avoid digital assets to land in the nation.