Samsung SDS has agreed to form business ties with Indian IT giant Tech Mahindra in a bid to enter the overseas blockchain market with its Nexledger blockchain platform, the company said Sunday.
“Samsung SDS agreed to cooperate with Tech Mahindra to expand the usage of the Nexledger platform overseas,” the system integration arm of Samsung Group said.
Under the agreement, the two will seek more business opportunities in the blockchain markets in India, the United States and Europe and cooperate to upgrade the Nexledger platform.
Tech Mahindra, an IT affiliate of India’s Mahindra Group, has been providing IT services to about 900 companies from across the world and has secured more than 120,000 IT engineers.
Samsung SDS launched its enterprise blockchain security platform Nexledger in 2017. Designed to combine various customized features on commonly used open source blockchains such as IBM’s business blockchain framework Hyperledger Fabric or Ethereum, the Nexledger has been used in finance, manufacturing, logistics and public sectors.
The blockchain platform also won a nod as tech industry research firm Gartner chose the platform as one of the representative vendors in the market in 2018.
Samsung SDS has been intensifying its blockchain services. In February, the firm introduced its own blockchain accelerator technology Nexledger Accelerator. The firms said the technology can boost the transaction speed and can be used in all Hyperledger Fabric-based blockchain services without the need to modify existing blockchain source codes.