It would seem that the cryptocurrencies revolution could be nearer than one had initially envisaged. The Indian corporate conglomerate, Tata Consultancy Service (‘TCS’) has launched a new crypto service solution that will “allow Banks and Investment Firms to enable investments and portfolio diversification into Cryptocurrencies and Digital Assets for their clients”. TCS has always been innovative in devising new strategies to enter the financial services market. The crypto solution by TCS has been named Quartz, which will enable the facilitation of trading of cryptocurrencies to a diverse clientele in India. According to the press release, on July 8, 2020, Quartz offers a diversity of trading multiple cryptos, stable coins, digital currencies linked to fiat currencies, and can be accessed over public blockchains. TCS solution ensures security and proper verification mechanisms in place. Further, TCS has also introduced Quartz- the Smart Ledgers, a decentralised ledger solution for enterprises which shall incorporate Quartz DevKit, a smart contracts solution. In order the ensure privacy compliance, TCS has provided design solutions such as Data Masking.
With the global reach that TCS has, there is no doubt that the cryptocurrencies solution and the DLT platform will have India gain advancement in the competitive decentralised finance economy. With over $120 billion in revenue, the Tata Group is sure to play a catalyst in the development of the blockchain and fintech ecosystem.
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