India’s largest IT & software consultancy company Tata Consultancy Services (TCS) has announced that it is developing solutions to drive scaled adoption of blockchain across industries, using technologies from Microsoft Azuere and Corda Enterprise blockchain platform of R3, a blockchain software firm.
TCS already offers blockchain solution called ‘Quartz’. However as the Quartz is focussed for the financial industry TCS sees the need for horizontal cross-industry platforms on which scalable solutions can be rapidly developed.
TCS plans to scale up hybrid cloud infrastructure with new capabilities and a micro-services architecture which will enable enterprise customers to digitally transform their business while uncovering new business value.
TCS, which recently become third-most valued IT brand in the world, has identified and is developing 5 blockchain platforms that include, digital identity, track and trace, assets in common, asset monetization, and tokenization. Across these horizontal platforms, TCS has identified numerous solution opportunities and is building them out by leveraging their respective customer and partner networks.
Industry application of blockchain technology is widespread in areas like management of component lifecycle in manufacturing, digital assets rights, electronic health records management, software IP protection, peer-to-peer insurance, and many more. Platforms developed through the alliance will be equipped with complete DevOps kits wherein assets from all three companies would be available for rapid design, building, and deployment.
“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.”
“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.”
“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,” said Rutter, CEO of R3.
Specifically designed for businesses, R3’s Corda was open-sourced back in November, 2016 with an aims to allow build interoperable blockchain networks that transact in strict privacy.
Founded in 2014 by Rutter, R3 leads a consortium of more than 200 firms in research and development of distributed ledger usage in the financial system and other areas of commerce. It is headquartered in New York City.