TCS, LACChain to develop Blockchain Ecosystem in Latin America and the Caribbean

Tata Consultancy Services has now announced a new partnership to develop a Blockchain ecosystem across Latin America and the Caribbean.

The company plans to create a blockchain ecosystem in the Caribbean and Latin America in collaboration with the LACChain, a global alliance backed by the Inter-American Development Bank (IDB Lab).

Irene Arias Hofman, CEO, IDB Lab, said, "This partnership with TCS brings to LACChain, an international consulting firm with wide experience in the development and implementation of technology. We believe that TCS’ expertise will be a very relevant contribution to the working groups on blockchain infrastructure and digital identity, and we welcome with excitement their desire to help us to continue developing the blockchain ecosystem in Latin America and the Caribbean".

Anupam Singhal, Business Head, Banking and Financial Services, TCS, said, "Our purpose-led approach, powered by our investments in research and innovation, ability to successfully leverage ecosystems and harness contextual knowledge, makes us the preferred partner to Inter-American Development Bank, in creating a positive impact in our society. The partnership serves a greater purpose of social and economic development in the region."

The LACChain alliance focuses on creating blockchain standards, platforms, and a marketplace for blockchain solutions.

TCS will create a marketplace of blockchain solutions in the healthcare, energy, education, and financial services sectors.

The announcement noted a range of blockchain solutions for healthcare systems e.g. decentralized vaccination distribution platforms and immunity passports for safe travel. Other blockchain solutions to address academics and companies to create a skills marketplace along with blockchain solutions to address payments and settlements for faster settlements.