Blockchain This Week

Panaesha Capital

Blockchain has disrupted various sectors globally. There are various countries that are experimenting and taking time to adapt to the new age blockchain technology. As various companies shake the blockchain hand, the rates of mass adoption have been going up.

According to a 2019 market report by Pioneer reports, the global blockchain-as-a-service (BaaS) market size will reach$8.13 Bn by 2022 from $325 Mn in 2017.

Janco Associates, a management consulting company, said that there is an increase in job openings across the IT industry in relation to the blockchain. This suggests that blockchain professionals are currently in high demand for recruiters, especially for staff and middle manager positions.  

Institute for Development & Research in Banking Technology, an RBI arm, has now set up a 5G use case lab for the banking and financial segment with a focus on blockchain. According to reports, the use of 5G will be a change in range of technologies and applications, including point of sale (PoS) machines in the banking sector, which currently use 2G and are in the process of being phased out.

With that here are some more blockchain-related developments this week:

NPCI To Use Blockchain To Develop Online Payments

The online payment industry has been garnering a lot of attention from startups and investors, on the other hand, The National Payments Corporation of India (NPCI) is now looking to utilise new age technologies such as blockchain to increase the pace of the growth and encourage adoption of online payments. The aim is to develop a resilient, real-time and highly scalable blockchain solution using an open source technology/ framework/solution.

Tech Mahindra Partners With Samsung For Blockchain Offering

The Mumbai-based giant, Tech Mahindra, have announced their plans to collaborate with Samsung’s software arm Samsung SDS to offer the latter’s blockchain platform, Nexledger, in the Indian and global market. According to reports, the Nexledger platform is both flexible and scalable and can deliver a wide spectrum of customisable use case application services based on requirements. As a part of this collaboration, Tech Mahindra will contribute towards improving the platform capabilities by participating in application development on Nexledger.

TCS Conduct First Cross-Border Security Settlement Via Blockchain

Global software solution provider Tata Consultancy Services (TCS) has successfully conducted the world’s first cross-border securities settlement between two central securities depositories — Maroclear, the CSD of Morocco, and Kuwait Clearing Company, the CSD of Kuwait — through blockchain.

Telegram Launched Beta Testing Of Its Blockchain Platform

Telegram, a UK-headquartered cloud-based messaging app has launched private beta testing of its blockchain offering, Telegram Open Network (TON). As a part of the pilot test, the company has granted access to the TON blockchain to select developers, including some from Russia. Earlier, Telegram had floated out an ICO for its cryptocurrency on the TON platform but cancelled its plans soon after.

What are your views about Blockchain expansion? Let us know in the comments section.

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