Connect with us


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

Namrata Shukla



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.”

Subscribe to AMBCrypto’s Newsletter


Binance Chain’s first project Mithril to launch with MITH/USDT trading pair

Namrata Shukla



Binance Chain's adds Mithril as its first project followed by MITH/USDT trading pair
Source: Pixabay

Binance launched its blockchain protocol on April 18 and it already has its first project launch on its network. Mithril, a decentralized social media platform will migrate to Binance Chain. The company’s MITH token, that ranks 121st on CoinMarketCap will transfer from ERC20 to Binance’s BEP2 standard.

Binance Chain has been a highly anticipated project in the crypto world since its announcement and with its launch, the community provided ample support to the move. According to reports, Binance is luring companies into migrating to their new native chain and leave Ethereum.

According to Mithril’s blog post, the migration commenced after the mainnet launch of the Binance Chain and informed the MITH holders that the deposit and withdrawals on will be halted for the initial 12-hour migration period, however, trading will continue. The post added:

“Once the initial migration of ERC20-based MITH to BEP2 MITH is complete, Binance users will be able to withdraw MITH to BEP2 wallets, such as the Ledger Nano S, and begin trading on Binance DEX. ERC20 versions of MITH held in private ETH wallets or on other exchanges will not be impacted.”

As Mithril announced about its migration to Binance chain, the price of MITH, Mithril’s native coin saw a surge. The coin also saw a 70% hike,  followed by a market correction. At press time, MITH was valued at $0.0782 with a market cap of $40 million. The 24-hour trading volume of the coin was $108 million as it pumped by 67.10% over the past day. In the past seven days, the coin noted a surge of a massive 81.47%, which started to dip by 0.84% over the past hour.

Following the addition of the project, Binance announced the listing of MITH/USDT trading pair, which will start trading on April 19, 10 AM UTC.

Subscribe to AMBCrypto’s Newsletter

Continue Reading