Tata Consultancy Services (TCS) has announced yesterday that it has partnered with LACChain, a Global Alliance led by the Innovation Lab of the Inter-American Development Bank (IDB Lab) to develop the blockchain ecosystem in Latin America and the Caribbean. 

LACChain's purpose is to encourage the use of Blockchain/DLTs in countries of Latin America and the Caribbean.

Headquartered in Washington, the LACChain alliance collaborates with technology partners and ecosystem actors to create blockchain platforms, standards, and marketplaces to innovate and co-create life-changing solutions for people who are vulnerable and affected by economic, social or environmental factors.

TCS will leverage its deep domain knowledge across industry verticals, technological expertise, and research and innovation to create a marketplace of blockchain solutions in the areas of healthcare, energy, education and financial services. The partners will focus on coming up with a range of solutions to address the urgent need of healthcare systems – such as decentralized vaccination distribution platforms and immunity passport for safe travel – which will also aid in reviving the economy and ensuring safe travel.

TCS and LACChain will create blockchain solutions to enable collaboration between academics and companies to create a skills marketplace and revive the job market in the geography. In the financial services field, it will address inefficiencies in payments and settlements to offer faster settlements and financial inclusion for every citizen. The solutions will also drive the adoption of renewable energy while reducing the cost per unit, creating an abundance of energy for the people.

Irene Arias Hofman, CEO, IDB Lab, said --
This partnership with TCS brings to LACChain, an international consulting firm with wide experience in the development and implementation of technology. We believe that TCS’ expertise will be a very relevant contribution to the working groups on blockchain infrastructure and digital identity, and we welcome with excitement their desire to help us to continue developing the blockchain ecosystem in Latin America and the Caribbean.

Anupam Singhal, Business Head, Banking and Financial Services, TCS, said --
Our purpose-led approach, powered by our investments in research and innovation, ability to successfully leverage ecosystems and harness contextual knowledge, makes us the preferred partner to Inter-American Development Bank, in creating a positive impact in our society. The partnership serves a greater purpose of social and economic development in the region.


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