Tech Mahindra Collaborates with Blockchain Firm ChromaWay
IT services firm Tech MahindraNSE has collaborated with Stockholm-based ChromaWay to present blockchain technology solutions to the Indian market.
ChromaWay and Tech MahindraNSE will be focusing on developing core technologies essentially for land registration and real estate process orchestration.
Tech Mahindra announced that ChromaWay’s experience in developing blockchain solutions for government offices in Sweden and Andhra Pradesh would be useful for the technology solutions to be developed through this partnership.
The firm declared:
“Together, they aim to build on the existing strong relationship with the governments, and in due course expand to neighbouring states. The ultimate goal of this partnership is to have the open-source technology platform powering a rich ecosystem of applications both in land registration and beyond, on a global scale.”
Furthermore, As of now, the Indian government is continuously working towards exploring opportunities to bring more transparency in land records and registration systems.
The country’s policy think tank NITI Aayog told it would bring out a discussion paper on the proposed use of blockchain technology in areas like land records, electronic health records as soon as possible.
Tech Mahindra told ChromaWay has experience in working with banks, companies, and organizations across five regions and its product, Postchain, the world’s first consortium database, unites the best features of database and blockchain technology.
Vivek Agarwal, Global Head Enterprise Verticals Solutions and Portfolio Companies at Tech Mahindra said:
“Distributed ledger technology is becoming mainstream. Public sector and governments would be amongst the largest beneficiaries, as blockchain technology would help them in streamlining their processes and making them transparent. We have found ChromaWay’s solution quite powerful; something that can help address some of the challenges our public sector has.”
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