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An indispensable advantage that blockchain technology brought with it is its propensity to unite several firms together for a common good. Since blockchain came around as a new innovative tech, hundreds of companies and partners including investors and industry players have collaborated to employ its functionalities and push forward its growth and acceptance.
In one way or the other, each of these partnerships has been useful to members of the crypto space. That is without adding the obvious fact that these partnerships help to push the tech further to the mainstream. In a similar event, today two tech giants have decided to join forces for the growth of the crypto space.
Known for its unreserved passion for innovations in the blockchain space, Samsung SDS (a subsidiary of Samsung Group) recently announced that it is partnering with Mahindra, one of the largest IT firms in India, which would certainly help foster the growth of blockchain technology. The partnership is designed to help promote the growth of the crypto sphere through Samsung SDS’s blockchain platform called Nexledger.
The Nexledger platform was created in 2017 to help combine customized features of several open source blockchain platforms, like the Ethereum Blockchain and IBM’s Hyperledger Fabric, which is already in use by several companies. The security platform has been employed in a number of sectors such as manufacturing, finance, logistics, and public sectors. In 2018, a tech research firm named Gartner picked Nexledger as one of the representative vendors in the market.
Tech Mahindra, on the other hand, is a renowned IT firm in India. The IT affiliate of Mahindra Group boasts up to 120,000 IT engineers under its cap. The firm has been providing excellent services to about 900 companies across the globe since its inception.
In line with the partnership, both parties have agreed to expand the business outreach to other parts of the world. Using the Nexledger platform, they intend to seek more business opportunities in the blockchain market in India, Europe, and the United States of America. Another goal they intend to achieve is the growth of the Nexledger platform, which in turn means providing blockchain solutions to a wider base of customers.
This is just one of many moves that the tech giant Samsung SDS has played in recent times. The system integration arm of the Samsung Group is reportedly intensifying its hold in the crypto space. Samsung SDS made the news in February when it introduced its own blockchain accelerator technology dubbed Nexledger Accelerator.
According to the company, the Nexledger Accelerator was built to help increase the speed of performing business transactions. Like its predecessor, the accelerator can also be employed in all Hyperledger Fabric-based blockchain services without modifying the existing source codes of the respective blockchain.