Mahindra Group and IBM have announced the development of a blockchain solutions that has the potential to reinvent supply chain finance across India.
By enhancing security, transparency and operational processes, this cloud based application is one of the first kind in India outside of traditional banking.
It is set to transform the supplier to manufacturer trade finance transactions through the permission distributed ledger, according to the company.
The blockchain based supply chain finance solution will enable parties involved in the transaction to act on the same shared ledger.
Each party updating only their part of the process, ensuring efficiency, consistency, trust and transparency while safeguarding sensitive information.
Mahindra Group & IBM- The Mahindra Group pioneered the use of block chain to drive future growth
- Headquarter – Mumbai, India
- CEO: Anand Mahindra
- Main Subsidiaries: Mahindra & Mahindra, Tech Mahindra.
IBM (International Business Machines Corporation)
- Located in: American multinational technology company.
- Headquarters: Armonk, New York
- Operations: 170 countries
- Founded: June 16, 1911
- Revenue: 81.74 billion USD (2015)
- Founder: Charles Flint
