TCS partners with LACChain to develop blockchain ecosystem across Latin America and the Caribbean

Tata Consultancy Services announced that it has partnered with LACChain, an initiative led by IDB Lab, the innovation laboratory of the Inter-American Development Bank Group, to drive the development of a blockchain ecosystem across Latin America and the Caribbean.

The LACChain alliance collaborates with technology partners and ecosystem actors to create blockchain platforms, standards, and marketplaces to innovate and co-create life-changing solutions for people who are vulnerable and affected by economic, social or environmental factors.

TCS will leverage its deep domain knowledge across industry verticals, technological expertise, and research and innovation to create a marketplace of blockchain solutions in the areas of healthcare, energy, education and financial services. The partners will focus on coming up with a range of solutions to address the urgent need of healthcare systems – such as decentralized vaccination distribution platforms and immunity passport for safe travel – which will also aid in reviving the economy and ensuring safe travel.

n the digital identity space, the partners will create blockchain solutions to enable collaboration between academics and companies to create a skills marketplace and revive the job market in the geography.

In the financial services field, it will address inefficiencies in payments and settlements to offer faster settlements and financial inclusion for every citizen. The solutions will also drive the adoption of renewable energy while reducing the cost per unit, creating an abundance of energy for the people.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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