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Aleksey Muratov: Blockchain technology increase the efficiency of Mahindra Group

The largest financial companies are introducing blockchain technologies into business processes

Representatives of the largest Financial and Industrial Group of India Mahindra Group informed about the launch of introducing blockchain technologies project into business processes. According to Chairman of the Board of Change the World Together (CWT) Aleksey Muratov, such applications are critical to a conglomerate doing business in all sectors of industry and economy, from aerospace and finance to agriculture.

As the representatives of Mahindra Group noted, at the end of this project the working prototype of instrument for transactions tracking in blokchain will be created. The first stage will be the use of blockchain in financial units of Mahindra Group for the presentation and invoice discounting.

"Introducing of such projects in the banking structures of India will allow to make the next step in the development of blockchain technology in this country and will give the opportunity to increase the efficiency of financial companies," - Aleksey Muratov said.

He emphasized that recently blockchain technologies are paid more attention from the major financial players both in South Asia and in other regions of the world.

"The more serious, established companies will be involved in the development of blockchain, so these structures are more effective and safe," - Muratov claimed.

We remind that recently, IBM has been actively expanding its presence in the markets of Central and South Asia. So, in May of this year, documents on cooperation and realization of competence centerwere signedat the Astana Economic Forum between autonomous cluster fund Park of Innovative Technologies and IBM Corporation. And in September it became known about the joint project of IBM, the National Bank of Kazakhstan and the accelerator Almaty Tech Garden (ATG), in terms of which the IT-corporation invests in the development of blockchain up to $3 million.

Source: CWT News

  • December 2, 2016 4:02 PM MSK