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Julian_Williams

TCS (Tata Consultancy Services) BaNCS payment system can now seamlessly connect to Ripplenet.

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https://www.tcs.com/tcs-to-drive-adoption-of-blockchain-microsoft-r3-technology

TCS to Drive Adoption of Blockchain with Solutions Built on Microsoft and R3 Technology
 

Quote

 

NEW YORK | MUMBAI, March 14, 2019: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading IT services, consulting, and business solutions organization, announced that it is developing solutions to drive scaled adoption of blockchain across industries, using technologies from Microsoft and R3, a leading enterprise blockchain software firm.

As enterprises are gearing up to go beyond experimentation and exploration with blockchain technology, TCS sees the need for horizontal cross-industry platforms on which scalable solutions can be rapidly developed. TCS plans to scale up hybrid cloud infrastructure with new capabilities and a micro-services architecture which will enable enterprise customers to digitally transform their business while uncovering new business value. The platforms will sit on the Microsoft Azure blockchain cloud while harnessing the full potential of R3’s Corda Enterprise blockchain platform, allowing TCS to quickly develop and deliver application layer solutions.

TCS has already identified and is developing five blockchain platforms that include, digital identity, track and trace, assets in common, asset monetization, and tokenization. Across these horizontal platforms, TCS, has identified numerous solution opportunities and is building them out by leveraging their respective customer and partner networks.

TCS has already identified and is developing five blockchain platforms that include, digital identity, track and trace, assets in common, asset monetization, and tokenization. Across these horizontal platforms, TCS, has identified numerous solution opportunities and is building them out by leveraging their respective customer and partner networks.

Industry application of blockchain technology is widespread in areas like management of component lifecycle in manufacturing, digital assets rights, electronic health records management, software IP protection, peer-to-peer insurance, and many more. Platforms developed through the alliance will be equipped with complete DevOps kits wherein assets from all three companies would be available for rapid design, building, and deployment.

“By collaboratively identifying the base capabilities needed for disruptive ecosystem use cases and by extracting reusable assets from engagements that we have executed, we are in a strong position to build and test minimum viable platforms for customers,” said Lakshminarasimhan Srinivasan, Global Head, Blockchain Services, TCS. “Some of the anchor solutions that we are building on these platforms include skills marketplace, anti-counterfeiting of luxury goods, affordable mobility, shared telecom infrastructure for 5G, and loyalty and rewards programs.”

“Microsoft has been in the forefront of helping enterprises adopt blockchain technology with its Azure Blockchain offerings and DevOps kits,” said Gavriella Schuster, Corporate Vice President, One Commercial Partner, Microsoft. “This relationship would be valuable in accelerating adoption of these toolkits as well as in identifying future needs for rapid solution development and cloud hosting.”

“This alliance is not just about bringing together each company’s products and services. It represents a rare opportunity for us to learn and develop solutions alongside one another so that the partnership is more than the sum of its parts,” said David E Rutter, CEO, R3. “It also provides a valuable ability to leverage joint networks of customers and partners to rapidly accelerate the adoption of Corda in key focus areas for R3, such as insurance, asset tokenization and digital identity verification.”

TCS has been successfully deploying its Quartz Blockchain Solutions for enterprises in the financial services value chain, leveraging the technology for its agility and ability to significantly reduce transaction costs. Now TCS is positioned to actively curate enterprise ecosystems through expanded blockchain platform solutions across industry domains that will identify unrealized business value for customers.

About Tata Consultancy Services Ltd (TCS)

Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for the last fifty years. TCS offers a consulting-led, Cognitive powered, integrated portfolio of IT, Business & Technology Services, and engineering. This is delivered through its unique Location Independent Agile delivery model, recognized as a benchmark of excellence in software development.

A part of the Tata group, India's largest multinational business group, TCS has over 417,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $19.09 billion for year ended March 31, 2018 and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award winning work with communities across the world have earned it a place in leading sustainability indices such as the Dow Jones Sustainability Index (DJSI), MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit us at www.tcs.com.

To stay up-to-date on TCS global news, follow @TCS_News. 

 

 

https://dailyhodl.com/2019/04/07/global-it-giant-adopts-ripple-technology-will-it-bring-xrp-and-crypto-to-the-mainstream/

Quote

 

The company has not specified which of Ripple’s suite of cross-border software solutions its Quartz platform connects to, or whether it supports Ripple’s XRP-powered xRapid. However, R3’s Corda Settler remittance platform does support XRP, which means XRP integration would be relatively easy for Quartz to offer its clients.

Says Rajesh Gopinathan, chief executive officer and managing director,

“On a secular basis, as large segments of the economy go through churn driven by digital disruption, enterprises are responding with technology-powered strategies – as in algorithmic retailing or connected cars – creating a huge opportunity for services providers like us.

Our investments in research and innovation, our deep domain and contextual knowledge, intellectual property and our collaborative approach to co-innovation, have been key to our participation in this opportunity.”

 

 

Edited by Julian_Williams

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I noticed any huge involvement with Ripple that happened so far is going underwater. I reckon this Tata connection is one of the very best to this day, but it does not surprise me there is no FOMO or anything like that. I believe it's going under the radar, unless you are already involved in the crypto market [+ XRP].

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https://www.tcs.com/content/dam/tcs/pdf/product-details/DSS/quartz-cross-border-remittances.pdf

 

Business Benefits

  • Near Real time settlement of Remittance instructions
  • Signicantly lower charges - elimination of FX conversion/agent charges through disintermediation
  • Instantaneous tracking of transaction status
  • Elimination of reconciliation overheads;
  • Accounting entries can be performed directly in the Core systems, based on status updates DLT based payment infrastructure / ecosystems can reduce liquidity needs for banks/ nancial Institutions, in managing Cross Border remittances - a huge benet for the treasury department
  • Audit Trail for a complete history of transactions

The Quartz Advantage

  • API based connectivity to DLT based Payment Infrastructures as well as to other blockchain platforms
  • Platform aware - Quartz Gateway is platform aware and ensures simultaneous connectivity to multiple blockchain platforms. For example, Rulebook Schemas provided by DLT based Payment Infrastructure platforms are pluggable to the Gateway thus providing exibility and cohesive integration capabilities with such newer payment infrastructure ecosystems.
  • Service Orchestration features - allows the entire Cross border FX payments lifecycle to be managed in the Core Banking/Payments system

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58 minutes ago, Dario_o said:

https://www.tcs.com/content/dam/tcs/pdf/product-details/DSS/quartz-cross-border-remittances.pdf

 

Business Benefits

  • Near Real time settlement of Remittance instructions
  • Signicantly lower charges - elimination of FX conversion/agent charges through disintermediation
  • Instantaneous tracking of transaction status
  • Elimination of reconciliation overheads;
  • Accounting entries can be performed directly in the Core systems, based on status updates DLT based payment infrastructure / ecosystems can reduce liquidity needs for banks/ nancial Institutions, in managing Cross Border remittances - a huge benet for the treasury department
  • Audit Trail for a complete history of transactions

The Quartz Advantage

  • API based connectivity to DLT based Payment Infrastructures as well as to other blockchain platforms
  • Platform aware - Quartz Gateway is platform aware and ensures simultaneous connectivity to multiple blockchain platforms. For example, Rulebook Schemas provided by DLT based Payment Infrastructure platforms are pluggable to the Gateway thus providing exibility and cohesive integration capabilities with such newer payment infrastructure ecosystems.
  • Service Orchestration features - allows the entire Cross border FX payments lifecycle to be managed in the Core Banking/Payments system

Are these the same advantages as Temenos and R3 services?  Has anyone heard anything about Temenos progress recently?

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On 4/8/2019 at 3:36 AM, JannaOneTrick said:

I believe it's going under the radar,

I agree @JannaOneTrick

I wonder if from Ripple’s perspective this isn’t actually a preferred approach? I can see the benefit of not advertising all your successes and what your strategy is, especially when Ripple sees the need to pivot.

Business is nothing more than the art of war. You wouldn’t want to telegraph your intentions to your opponent so as to allow them to gain the upper hand. The fact that Ripple keeps having the successes that so many here pull out of the news while they themselves are relatively modest in their own announcements seem to support this.

I can’t help but think that in some point in our not too distant future there will be a tipping point and a dramatic shift will occur. I offer no hard facts as evidence and am only going off what I learn and and reflect upon. I’ll ‘guess’ and say it has something to do with the size of the RippleNet, xPool, and a patent. @BobWay can swat the tinfoil off my head for offering up this notion but it’s just how my brain thinks.

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