INDUSTRY SPOTLIGHT

WHAT IS
BLOCKCHAIN?

A database or a ledger that maintains a continuously growing list of data records or transactions.

It is the technology behind digital cryptocurrency because of which there is a strong association with Bitcoin.

“The Mahindra Group is pioneering the use of blockchain to disrupt its traditional businesses and drive future growth. We are one of the leaders in the tech today and we want to continue to establish ourselves as the leader”.

ANISH SHAH
GROUP PRESIDENT (STRATEGY)
MAHINDRA GROUP

Decoding Blockchain Technology

KEY HIGHLIGHTS

  • HIGHER
    SECURITY

    A hacker would have to gain control of more than 51% of nodes to allow wrong transactions

  • INTERWOVEN
    PROCESS

    New block is ‘chained’ to the previous one using a cryptographic signature

  • TRANSPARENCY

    Entire process is consensus based and there needs to be a majority of nodes to allow transaction

  • SHARED
    LEDGER

    Leads to creation of noneditable record of transactions, which are shared across the business network

  • SMART
    CONTRACT

    Business terms embedded in transaction database & executed automatically

  • CONSENSUS
    SECURITY

    All parties agree to network verified transaction

  • PRIVACY

    appropriate visibility; transactions are secure, authenticated & verifiable

HOW IS MAHINDRA USING THIS TECHNOLOGY?

OBJECTIVE

Pioneering the use of Blockchain to disrupt traditional businesses and tap new opportunities in non-monetary application areas like industrial supply chains.

IMPLEMENTATION

Mahindra Finance has commenced a one of its kind project in India which has the potential to transform supplier-tomanufacturer trade finance transactions.

OBJECTIVE

Developing applications across other verticals like auto, agritech and clean energy. Aims to be one of the largest Blockchain players globally.

APPLICATIONS FOR BLOCKCHAIN ACROSS THE GROUP