Tech Mahindra

Indian conglomerate Mahindra Group’s IT subsidiary, Tech Mahindra, has partnered with American tech company Adjoint. The company is set to launch blockchain use in insurance services and finance management solution.

Blockchain Solution for Financial and Insurance Services

On Monday, CommMEA reported that the solution, which is the first of its kind, will be a game-changer. Using the service will save clients up to $4 million for every $1 billion of financial management and banking relationships. Using blockchain in the insurance and finance sector will ensure that clients receive a seamless and trustworthy experience.

/**/

The report indicates that users of the Uplink solution will be able to validate the business case with their own data in a secure environment. It will also help in eliminating double data and out-of-order entries. This will give auditors access to the absolute record of transactions and help to ease compliance and reporting. It will transform data quality and empower users with the responsibility of having accurate data.

The solution, which is an open-source distributed ledger technology platform, will enhance financial compliance. It has a dedicated consensus mechanism and messaging protocol that will let users of the solution determine data to input to the DLT. According to Tech Mahindra, the solution will offer the required efficiency in solving real-world problems in the insurance and financial management sector.

>> Binance Acquires Crypto Derivatives Platform JEX

Previous Mahindra Blockchain Initiatives

However, this is not the first time that Tech Mahindra has shown interest in being involved in blockchain technology. The subsidiary has been involved in several initiatives applying blockchain technology. For instance, at the beginning of May, the company announced its involvement in an anti-spam phone calls project. The project entailed relieving mobile phone customers of the nuisance calls by requiring providers to follow regulations set out by India’s Telecom Regulatory Authority.

Equally, back in April, the company announced its collaboration with Samsung. The company was seeking to enter the overseas blockchain space through the Samsung SDS blockchain platform called Nexledger. The companies expect to explore the customizable application of blockchain as per business needs.

Featured image: DepositPhotos © jamesteohart

/* p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } }
/*]]>*/

/**/

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin51,122 0.17 % 3.94 % 11.63 %
Ethereum4,324.9 0.34 % 3.34 % 2.69 %
Binance Coin580.26 0.12 % 2.29 % 6.98 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana195.12 0.16 % 3.75 % 4.52 %
Cardano1.410 0.34 % 5.74 % 12.07 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
XRP0.8275 0.20 % 4.18 % 16.53 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra70.15 1.30 % 11.32 % 36.01 %

bitcoin
Bitcoin (BTC) $ 51,153.00
ethereum
Ethereum (ETH) $ 4,328.58
binance-coin
Binance Coin (BNB) $ 580.87
tether
Tether (USDT) $ 1.00
solana
Solana (SOL) $ 196.66
cardano
Cardano (ADA) $ 1.41
usd-coin
USD Coin (USDC) $ 0.999855
xrp
XRP (XRP) $ 0.828299
polkadot
Polkadot (DOT) $ 30.66
terra-luna
Terra (LUNA) $ 69.60