Vodafone Idea says that it has inked a pact with CPaaS solutions provider Tanla Platforms to secure and encrypt all of the international messaging traffic on its network using blockchain.
The new deal will help the telco delve deeper into the global enterprise market, as well as enable it to increase its share in India’s international messaging market, which is estimated to be around Rs 3500 crores ($473 million) annually.
The partnership is centred around Tanla’s cloud-based platform, Wisely, which was co-developed with Microsoft. The blockchain-based platform is expected to go live in the first half of 2022.
“We are the early adopters of the Wisely Platform from Tanla which brings critical capabilities for our enterprise customers. Over the years, our partnership with Tanla has had a great record of success and has enabled us to serve our customers better.” said Arvind Nevatia, chief enterprise business officer of Vodafone Idea.
Nevatia said that the telco’s enterprise arm is aiming to be ahead of the curve in the business communication space via the Tanla partnership.
Both companies previously executed the country’s largest implementation of a blockchain use case processing over 350 billion transactions per year, according to an official statement.
“Tanla and VIL are confident that this expansion of their long-standing relationship will reimagine the future of the messaging industry in India,” the statement said.
Wisely, powered by blockchain technology, offers a digital marketplace bringing together enterprises and suppliers connected by secure express routes and Microsoft’s global network. The platform is enabled by Tanla’s patented cryptographic technology.
“Our partnership with VI, powered by the Wisely platform, is a massive step forward to lead the global digital interactions space…I am confident this partnership will help expand our global footprint by addressing the needs of global enterprises not just in India but across the world.” said Uday Reddy, founder and chairman of Tanla Platforms.
Tanla claims that the platform ensures complete transparency and a single source of truth resulting in immutable audit trails and zero dispute settlements.
Vodafone Idea is currently looking to transform itself into a technology company (or a “techco”) to give a push to its enterprise business in India. Under its new enterprise strategy, the telco has adopted a partner-led approach to build a complete end to end ecosystem of products and services to serve the needs of large, medium and small companies.
Vodafone Idea’s rival telcos Airtel and Reliance Jio are also betting big on blockchain solutions, and recently implemented the technology to counter spam messages.
Airtel had also co-deployed its blockchain based solution in partnership with Tanla to address spam.
Reliance Jio previously claimed that it had installed one of India’s largest blockchain networks, with tens of thousands of nodes. At the time, Reliance Industries chairman Mukesh Ambani said that usage of blockchain technology will deliver “unprecedented security, trust, automation and efficiency to almost any type of transaction”.