Indian IT firm TCS taps Microsoft and R3 technology for cross-industry blockchain platform solutions

Image Via Business Today

Indian IT giant Tata Consultancy Services (TCS) has announced that it is using technologies from Microsoft and R3 to develop scalable cross-industry blockchain platform solutions.

TCS has already been deploying its Quartz Blockchain Solutions for enterprises in the financial services value chain.

With growing industry application of blockchain technology, TCS said that there is a need for horizontal cross-industry platforms on which scalable solutions can be rapidly developed. To that end, it said that it plans to scale up hybrid cloud infrastructure with new capabilities and a micro-services architecture, enabling enterprise customers to digitally transform their business while uncovering new business value.

“The platforms will sit on the Microsoft Azure blockchain cloud while harnessing the full potential of R3’s Corda Enterprise blockchain platform, allowing TCS to quickly develop and deliver application layer solutions,” the company said.

TCS added that it is currently developing five blockchain platforms – digital identity, track and trace, assets in common, asset monetization, and tokenization. Across these horizontal platforms, it said, it has identified numerous solution opportunities and is building them out by leveraging their respective customer and partner networks.

According to the official release, 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.”