Tech giant Samsung SDS to cooperate with another tech giant from India-Tech Mahindra in order to expand to the overseas blockchain market. Following the latest cryptocurrency news coming from The Korea Times, the companies want to expand in India.
The Korea Times writes that SDS is the integration arm of the Korean tech giant Samsung and aims to expand the use of its Nexledger blockchain platform on the Indian Market. The company also aims to expand to Europe and The United States.
Tech Mahindra and Samsung SDS agreed to find a lot more business opportunities in the region. Samsung SDS will also cooperate further with Tech Mahindra for the future Nexledger updates.
Nexledger is a blockchain security platform that was launched two years ago in 2017. The platform has since been used in multiple industries such as logistics, finance, manufacturing, retail, and a few others. For example, the blockchain platform was initially trialed by the Korea Customs Service for the export customs and logistics services. About fifty organizations and institutions including insurance and shipping companies joined the test. Public agencies and government institutions also joined in.
Recently, the SDS branch of Samsung announced the launch of its new blockchain accelerator technology-the Nexledger Accelerator. The accelerator came as a product after the successful test with the Hyperledger Fabric. This new solution allows for faster transactions and increased processing speed.
A month ago in March, the Mahindra parent company trained about 70 percent of its staff on how to deal with new technologies such as the Internet of Things, AI, blockchain and cybersecurity. Mahindra has also previously used the blockchain technology of another tech giant-IBM. This blockchain solution was used in order to create a solution for lowering down the costs of the invoices between the suppliers.
According to IBM, Mahindra is trying to find a way to use blockchain in order to be able to track parts and to improve the auto recalls.
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