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Tech Mahindra forms a partnership with Adjoint to launch a blockchain platform

Tech Mahindra forms a partnership with Adjoint to launch a blockchain platform
Tech Mahindra forms a partnership with Adjoint to launch a blockchain platform
In a bid to develop a blockchain insurance and financial management solution, in an official statement, Tech Mahindra, the IT subsidiary of Indian Multinational Mahindra Group announced the formation of a partnership with Adjoint, an American distributed ledger technology (DLT) firm.

Reportedly the service offered via the partnership would be the first time any company provides such services. This service provided by Tech Mahindra’s blockchain platform also claims to help its users save up to $ 4million for every $1 billion of banking and financial risk management relationships.

As per reports, through this new innovative system, operators can analyze business cases in their own secure environment using their own data which in turn will eliminate double data and out-of-order entries.

As per sources close to the matter, auditors will be allowed access to an immutable record for all transactions with the aim to ease reporting and compliance.

Based on UpLink, an open-source DLT platform that focuses on compliant modern financial processes management, the platform allows users of the blockchain environment to select the data that goes in the distributed ledger using its consensus mechanism and dedicated messaging protocol.