AT THE INTERSECTION
BETWEEN INDUSTRIES
Building industry-spanning blockchain ecosystems
with Quartz DevKit
By R Vivekanand, Vice President and Co-Head, TCS Financial Solutions
For decades, software providers have built
task of following up with hospitals, diagnostic labs,
extensive solutions targeted toward specific and third-party insurance providers for settling
industries. their claims. Similar ecosystems are being built
for the intersections between Insurance and other
Today, the larger potential for business
transformation exists at the intersections between industries such as Automotive, Real Estate, and
industries, where significant inefficiencies remain. Retail. Through these ecosystems, we’re making
This is one of the key drivers for TCS setting it easier for insurance products to be embedded
up Quartz as a horizontal business unit offering throughout the economy, thereby also aiming to
blockchain-based solutions that span industry bring in positive societal impact.
verticals including energy, utilities, supply chain,
healthcare and, of course, financial services.
Quartz was born out of the banking, financial
Quartz will also embed financial services into
the supply chain of other industries. Products
and services are being enhanced with specific
services, and insurance (BFSI) domain, cultivating offers and built-in capabilities – for example, by
ecosystems in OTC securities settlement, cross- providing channel financing in large supply chains
border remittances, and corporate actions in the manufacturing industry. Quartz solutions
announcements. will soon be available for bill discounting, enabling
Quartz blockchain technology is now being
deployed to provide foundational support for
better liquidity for SMEs.
By enabling innovative business models at
ecosystems that span multiple industries. Quartz the intersections between BFSI and the broader
significantly lowers the cost and effort required economy, Quartz will unlock immense value and
to build ecosystems that involve all the relevant generate potential for economic growth.
players, making possible an entirely new range of
Moreover, Quartz, with its BFSI heritage, has
demonstrated the ability to support robust,
capabilities, services and products.
For example, at the intersection of Insurance and
mission-critical solutions and ecosystems for
Healthcare, Quartz will speed up the settlement critical infrastructure providers, making Quartz a
of insurance claims, significantly thereby bringing natural fit for industries such as energy, utilities,
relief to citizens who otherwise have the arduous and government.
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