SBI and JPMorgan have teamed up to use the US bank’s blockchain tech to speed up overseas transactions. The partnership will reduce SBI customers’ transaction costs, time taken for payments and make it easier to resolve cross-border payments-related inquiries to a few hours from up to a fortnight. Venkat Nageswar, deputy MD – international banking group, SBI said that they are excited to be the first bank in India to go live on the network.
Category: Blockchain (page 1 of 2)
Airtel is collaborating with Qualcomm to fast-track the implementation of 5G services in India. The telco will use Qualcomm’s 5G RAN platforms to roll-out virtualised and Open RAN-based 5G networks. The telecom giant said both companies were planning to work on developing 5G FWA for faster broadband connectivity and on introducing cost-effective broadband services as well. Airtel is also hoping to venture into newer fields like VR and Smart Homes.
Lygon, an Aussie platform of ANZ bank, the Commonwealth Bank of Australia, Westpac, IBM and shopping centre company Scentre Group announced minting industry’s first standardised digital bank guarantee using blockchain tech. The group, formed in July 2019, claimed that it was the first time blockchain has been used for a commercial banking product in Australia. The Lygon platform runs on the IBM public cloud and leverages it Blockchain Platform.
The govt will explore the use of blockchain tech to ring in the digital economy. “The government will explore the use of the blockchain technology proactively for ushering in the digital economy,” Minister of State for Finance Anurag Singh Thakur said in a written reply in Rajya Sabha. The MoS said that the govt does not consider crypto-currencies legal tender and will take measures to eliminate the use in financing legal or illegitimate activities.
Wipro is taking over the IT operations of German food services firm Metro AG for five years in a $700 mn deal. The Bengaluru headquartered company will take over the IT units of Metro AG – Metro-Nom – in Germany and Metro Systems in Romania. The deal, which is expected to close by April 2022, has the potential to go up to $1 bn if extended by another four years. 1,300 Metro employees in Germany, Romania and India will be transferred to Wipro.
Infosys and men’s professional tennis governing body ATP has renewed partnership for another three years. As ATPs Global Technology Services Partner and Digital Innovation Partner, Infosys will leverage AI, Data Analytics, and Cloud to develop and innovate a dedicated digital tennis platform to deliver quality experiences for players, media, and fans. Infosys had developed ATP’s critical digital assets and infra — PlayerZone, Stats Leaderboards, Second Screen, the ATP app etc.
IT firm Tech Mahindra and telecom analytics solution provider Subex joined hands to drive adoption of blockchain-based solutions for telecos across the globe. These solutions will reduce fraud, drive operational efficiencies for telcos by reducing compliance issues and faster time-to-market. Tech M will use its capabilities in OSS and BSS domain, while Subex’s will exploit its blockchain network and the capabilities of an enterprise-grade DLT network.
Synchrony and the University of Hyderabad have signed an MoA to help fund the country’s first blockchain project for providing financial services to farmers. The three year PPP project aims to bring farmers and financing experts together to simplify the exchange of information and payments. The key objective is to reduce the costs for farmers who cannot access loans from formal channels of lending and provide AI-based tools to project future cash flows of farmers.
Nutanix has partnered Microsoft to deliver a single software stack across public and private clouds, resulting in increased agility, streamlined operations and significant cloud savings. Both companies will focus on extending Nutanix hybrid cloud infra to Azure. Their solution will enable customers to run hybrid workloads seamlessly across private and public cloud, without needing to rearchitect their apps. It will also reduce cloud management costs.