February 25, 2022
By Priyanka Shetty
Telecom major Bharti Airtel announced in a statement that it has acquired a stake in Singapore-headquartered blockchain-based digital marketing company Aqilliz under the Airtel Startup Accelerator Program. The company did not share any financial details of the deal.
Here’s what we know:
- Aqilliz has developed a patented hybrid blockchain platform called Atom that allows brands to create secure solutions to engage with customers in order to show them relevant content through a distributed digital ledger.
- Airtel will deploy Aqilliz’s blockchain technology into its adtech domains through Airtel Ads; digital entertainment platform Wynk Music and Airtel Xstream, and the Airtel Thanks App. These are the inlets to Airtel’s online payment bank which are used for recharges and claiming rewards.
- Adarsh Nair, chief executive of Airtel Digital, said: “Blockchain technology is maturing and we see its application across areas such as Adtech, Creator Economy, and Loyalty Programs”.
- Reacting to the deal Aqilliz founding CEO Gowthaman Ragothaman said, “Aqilliz’s patented technology will enable Airtel to capture and carry this value exchange in the form of consent and provenance across the digital supply chain.”
- Last year in December, Airtel had launched the ‘Airtel India Startup Innovation Challenge’ with Invest India. Early-stage startups were invited to demonstrate solutions for 5G, IoT, cloud communications, digital advertising and digital entertainment.
- Under this initiative, top 10 winners will win cash prizes, get access to Airtel’s Innovation Lab and will be able to leverage Airtel’s advanced technology infrastructure to scale up their use cases and even co-innovate with Airtel’s engineering teams.
About the author
Based in Bengaluru, Priyanka Shetty is a freelance writer for Blockchain Asset Review.