Tata Consultancy Services to roll out crypto trading platform

By Amit Raja Naik, Inc42.com

Tata Consultancy Services’ crypto trading platform will offer choice and flexibility to customers in their trading, investment strategies

India’s multinational IT service and consulting company Tata Consultancy Services announced that it has launched a cryptocurrency trading platform called Quartz Smart Solution for banks and investments. The platform will support multiple cryptocurrencies, digital assets, digital coins linked to fiat currencies, trading channels and public blockchain networks, thereby offering choice and flexibility to customers in their trading and investment strategies.

The solution has been developed in collaboration with blockchain startup Quartz, incubated by TCS. Its Smart Ledgers product consists of ‘Smart Solutions,’ a set of distributed ledger technology for businesses across industries; ‘Quartz DevKit’ a low code smart contract development platform; ‘Quartz Gateway’ for integrating existing solutions with varied ecosystems and ‘Quartz Command Center’ for administering and monitoring the ecosystem.

According to a cybersecurity company Sophos, in 2019, the public cloud security incidents hit India the hardest with 93% of the organisations’ security being compromised. The cybersecurity incidents that Indian companies suffered include ransomware at 53%, followed by other malware (49%), exposed data (49%), compromised accounts (48%) and crypto-jacking (36%).

The price of Bitcoin (BTC) at the time of writing was $9,186.59 with a market cap of $169.32 Bn, compared to last week (July 7, 2020) which stood at $9,279.14, with a market cap of $170.97 Bn. According to Finder’s Cryptocurrency Prediction Report, on average, the panelists predicted that BTC will reach $12,948 by 2020-end.

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