Tech Mahindra Launching Blockchain Finance Management
By Mark Lemon – Cryptocurrency Specialist
Indian IT giant, Tech Mahindra just partnered with Adjoint, an American Distributed Ledger Technology (DLT) firm to launch a blockchain financial management and insurance solution.
On September 2, telecommunications industry news outlet CommsMEA reported that the solution is the first of its kind. With this, clients are said to save up to $4 million for every $1 billion of financial risk management as well as banking relationships. This solution could be used for retailers buying Crypto as a solution for efficiency, compliance and security.
According to the report, users of the system will be able to validate the business case by comparing it with their own data within their own secure environment and alleviate double data and out-of-order entries. Though no plans have been released to suggest users could buy cryptocurrency on the blockchain, auditors could be provided access to a fixed record of all transactions.
The system is based on an open-source DLT platform, UpLink, which is focused on enabling compliant modern financial processes management. The platform has a dedicated consensus mechanism and messaging protocol that allows participants in the blockchain ecosystem to decide what kind of data can be put on the distributed ledger. This idea is somewhat like other projects in which reputation is used to validate transactions.
Tech Mahindra announced a blockchain-based anti-spam phone call initiative earlier this summer. This solution permits phone companies to comply with the Telecom Regulatory Authority based on India’s regulations to safeguard phone subscribers from uninvited calls. Though India currently bans operators of cryptocurrencies, they are keen to develop and integrate blockchain technology.
If you’re looking to buy crypto UK or cash out Bitcoin to GBP, then head on over to our platform.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**
BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.2. **Continued Operation Outside the UK:**
Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.3. **Withdrawal of Assets:**
For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.4. **Conversion of Assets:**
To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing info@bcbitcoin.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.5. **Withdrawal Procedure:**
To initiate a withdrawal, please email your request to info@bcbitcoin.com from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at info@bcbitcoin.com Kind Regards