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Tech Mahindra Partners With Swedish Company ChromaWay to Explore Possible Applications of Blockchain in India

April 12, 2018 21:39
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Indian government and industry both seem to be exploring some ways to use blockchain technology hand-in-hand. IT giant Tech Mahindra has partnered with Swedish blockchain startup ChromaWay to develop a range of blockchain based applications for Indian use cases. And interestingly, it’s expected that solutions developed under the partnership will be aimed primarily on the needs of government.

Speaking about the partnership Henrik Hjelte, CEO, ChromaWay, told Coindesk:

“This partnership represents an opportunity to leverage our-open source consortium database technology to bring real and measurable improvements to society by empowering individuals, fighting corruption and fostering collaboration.”

According to Rachit Batham, Tech Mahindra’s Blockchain Centre of Excellence Head, the move also fits nicely into company’s areas of interest. Speaking about the partnership he told Coindesk that blockchain is an area of priority for the company, and therefore his company is making “focused investments” into these technologies. He said:

“Tech Mahindra is bullish on blockchain technology, and is making focused investments in building sustainable solutions and platforms.”

And Batham’s words also seem to have some weight as Tech Mahindra has stepped up its blockchain research efforts in the recent days. In February company had also announced that it will invest a total of $79 million in Canada over the course of next five years to develop a Centre of Excellence (COE) that will focus on development of next generation blockchain and AI technologies. Now two months later this is 2nd blockchain related partnership formed by the company.

A Win-Win Situation

The partnership is a big one for ChromaWay too as company looks to position itself and its Postchain technology as a unique offering in the crowded enterprise-software market. The unique thing about Postchain, according to ChromaWay, is its combination of SQL database and blockchain technology. It works with all established enterprise database systems (i.e. Oracle, Microsoft etc.) and also with open source database systems (i.e. PostgreSQL).

Postchain has already been deployed for land registry in Sweden and Andhra Pradesh. Tech Mahindra also sees potential in this technology and believes that several applications can be derived from it for various organizations of government. Plus, the partnership can also help Tech Mahindra in boosting its own blockchain research efforts.

Besides land registry Postchain can also help in various other areas as well. According to August Botsford, Technical Director, ChromaWay, the technology can be deployed in areas of trade financing, supply chain management, part tracking, logistics and maintenance among others.

Final Thoughts

It will be interesting to see which areas and government organizations benefit from this partnership between Tech Mahindra and ChromaWay. For now it’s clear that blockchain technology is picking pace in India despite government’s crackdown on cryptocurrencies. The government itself is also bullish on blockchain, so we can be pretty sure that the country is soon about to become the ground for a large number of blockchain ventures. Let’s hope for the best!

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

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