Tech Mahindra Collaborates with Amazon to Build Blockchain Services for Supply Chains
Tech Mahindra has partnered with Amazon to provide blockchain-built supply chain solutions for the telco, healthcare, and aviation industries. This Tech subsidiary of Mahindra Group, a leading Indian Conglomerate, has been pursuing blockchain built innovations for a while. It is set to scale its efforts towards other sectors, including financial services and energy, within the next 12-18 months.
Initially reported by the Economic Times, the firm will leverage Amazon’s managed blockchain to integrate industry-based solutions. Consequently, Tech Mahindra clients with access to Amazon Web Services will be able to use the company’s open-source infrastructure on AWS to track their supply-chains via a blockchain ecosystem.
With COVID-19 taking a toll on supply-chain networks, the initiative by Tech Mahindra and Amazon comes as a relief to most industries whose operations are reliant on procurement processes. Tech Mahindra’s Blockchain and Cybersec Practice lead, Rajesh Dhuddu, was keen to highlight the need to ensure sustainability through tech innovations,
“Global businesses are facing sustained headwinds and struggling to collectively navigate and strategize in this new, unchartered territory and facilitate business continuity in the current COVID world … Organizations are advised to leverage technologies like Blockchain to address the challenges and create a competitive advantage for themselves.”
This development coincides with a spike in blockchain innovations for supply chain processes, according to the latest Forrester report. The analysis notes that despite a drop in progress by most blockchain projects, those whose niche is supply chain have actually accelerated following the COVID-19 threat on global networks. Tech Mahindra, which now seems to pull more weight on this area, will assist the healthcare industry in issues tracking, hence easy identification of counterfeit products.
Notably, this Indian Tech giant has been involved in other blockchain projects before the pandemic. Earlier in the year, the firm collaborated with India’s Telengana state to launch a blockchain accelerator; other initiatives include a partnership with Samsung SDS back in 2019 as both company’s started making significant moves in the blockchain market.