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Tech Mahindra joins hands with Samsung SDS to use its Nexledger blockchain to explore global markets

Namrata Shukla

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Tech Mahindra joins hands with Samsung SDS to use its Nexldger blockchain and explore global blockchain markets
Source: Pixabay

Samsung SDS and Tech Mahindra joined forces to enter the overseas blockchain market. Samsung’s system integration arm, SDS, aims to expand the use of its Nexledger blockchain platform in India, the United States, and Europe, reported Korea Times.

According to the contract, Samsung SDS will work on further updating the Nexledger with the tech giant and seek more business opportunities in India, United States and Europe. The President of Samsung SDS India, Mahn Chey, said,

“We are proud to announce our joint efforts to promote Nexledger in the global market with Tech Mahindra. As a company that believes in the value the blockchain technology will bring, Samsung SDS has dedicated its efforts to develop a blockchain platform, Nexledger, that meets the enterprise needs in the business sector. Together with Tech Mahindra, we look forward to delivering blockchain powered digital transformation to our clients.”

Samsung SDS launched Nexledger blockchain security platform in 2017 and it has since been used in finance, manufacturing, logistics, and public sectors. It was designed to combine customized features of commonly used open-source blockchains like IBM’s Hyperledger Fabric or Ethereum.

Meanwhile, Tech Mahindra, an IT subsidiary of India’s Mahindra Group, has been providing IT services to almost 900 companies over the world, securing over 120,000 IT engineers. According to Cryptopost, Mahindra trained 70% of its employees to handle new technologies, including blockchain, Artificial Intelligence [AI], Internet of Things and cybersecurity.

The Global Practice Leader, Blockchain at Tech Mahindra, Rajesh Dhuddu, said,

“As part of our TechMNxt charter, we are invested in creating a partner ecosystem to leverage next generation technologies and platforms to provide enhanced experience to our customers. As a step towards the same, we are delighted to partner with Samsung SDS and look forward to leveraging their market research, proprietary Blockchain platform Nexledger that has proven ability to automate a complex Blockchain network deployment and maximize transactions not only on their native platform but also on Hyperledger and Ethereum.”

The use of blockchain is not new to the tech giant however, as it had previously used IBM’s blockchain technology to create a solution for discounting invoices between its auto and suppliers division. Dhuddu added,

“This partnership will also enhance our reach in Korean, India and other APAC markets, maximize the joint offerings through a combination of respective platforms, Tech Mahindra’s System Integration skills and Innovation centres in India.”





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Altcoins

Bitcoin SV surges by 6.84% in an hour; community speculates massive behind-the-scenes pump

Biraajmaan Tamuly

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Source: Pixabay

The cryptocurrency market has witnessed major price hikes over the past few weeks, with Craig Wright’s Bitcoin SV emerging as the market’s unlikely performer. The Craig Wright-backed virtual asset, which is supposed to follow Satoshi Nakamoto’s original idea, outperformed every top 10 cryptocurrency over the past week, recording a growth rate of 22.86%.

Source: CoinmarketCap

At press time, the coin had recorded a price hike of 6.84% over the hour, with the coin valued at $228. The coin was traded the highest on CoinBene exchange, where the trading pair of BCHSV/USDT gathered a volume of $96  million. The exchange was closely followed by ZBG exchange, where the trade accounted for 13.62% of the entire trading volume.

Source: Trading View

According to the chart released by Trading View, a massive green candlestick can be observed. The chart also indicated that at press time, the candles were charting over the Moving Average [MA]. This suggested that extremely high trading volumes were pegged with Bitcoin SV.

Many in the community have speculated that the surge might be due to a massive dump of the coin in the market, after the token hit stagnation since pumping by more than 247 percent recently. The aforementioned price pump pushed the price of the coin from $53.22 to $250.

Previously, it has been suggested that the major pump witnessed within the Bitcoin SV ecosystem might be laden with market manipulation, implying the participation of illicit entities in the conduct of a “pseudo-pump” of BSV’s market. Further, the de-listing of BSV by major exchanges such as Binance may have made it more susceptible to sudden price movements, according to some.

At press time, Bitcoin SV was positioned 8th on the cryptocurrency charts. Despite the pump however, historical trends suggest a major price correction may be in the offing too.





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