TCS Enhances Quartz™ to Enable More Secure Transactions across Crypto and Digital Assets
Tata Consultancy Services’ Quartz Integrates with Thales to Safeguard Crypto Wallets and the Trading and Transfer of Digital Assets
PARIS | MUMBAI, June 30, 2021: Tata Consultancy Services (TCS) (BSE: 532540, NSE: TCS), a leading global IT services, consulting and business solutions organization, announced that Quartz™ has successfully integrated its ledger management solutions with Thales to provide customers with best-in-class security for custody, trading and settlement transactions across a diverse range of crypto and digital assets.
While crypto and digital assets are fueling the creation of a tokenized economy, secure custody of these assets continues to be an area of concern in the face of an explosion of digital threats and the risk of theft. Quartz leverages Thales Luna Hardware Security Modules that provide secure encryption, signing and authentication services to protect cryptographic keys against compromise.
Targeted at banks, brokers, custodians, marketplaces, and investors in a diverse range of digital assets, the enhanced Quartz will enable robust security, trust and governance and the end-to-end management of digital assets. With these fully automated and highly secure authentication services, wallet service providers, token and crypto exchanges and marketplaces can customize authentication to meet their unique needs. Quartz solutions leverage Thales’ FIPS140-2 Level-3 certified HSMs to safeguard critical operations including address generation, encoding, and transaction signing in a secure device, delivering a multi layered governance model to ensure safety and resilience in digital asset transactions.
“We have been making continuous investments in our Quartz solutions to provide best-in-class, enterprise grade security features to our clients. The enhanced solution will help fast-track our customers’ journeys into the crypto/tokenized economy in a secure manner. Wallets store private keys that are used to digitally sign transactions, and their application goes beyond the trustless economy – for self-sovereign identity, enabling restricted access to private information including medical information, vaccination status, educational records among others,” said R Vivekanand, Global Head, Quartz, TCS. “Our collaboration with Thales will offer purpose-driven solutions that can deliver the comfort of enterprise-class security and create compelling value for our customers.”
Todd Moore, Vice President, Encryption Products, Thales, said, “We are delighted with the successful integration of Thales with Quartz solutions, which will help organizations in extending their product portfolio to the exciting world of crypto and digital fungible and non-fungible assets. The integrated offering with Quartz enables trust by protecting keys that are the bedrock of digital tokens representing goods, financial assets and securities.”
Quartz solutions are designed to enable institutional grade, secure custody and transaction management for crypto and digital assets. The solutions support a range of business services including wallet operations, exchange and off-market trading, transfer of cryptocurrencies, token issuance and the entire lifecycle of digital assets, with transaction monitoring, compliance, and audit integrated within each service.
Thales has partnered with industry-leading blockchain and cryptocurrency partners to provide enterprise-grade solutions for securing transactions. Together with partners such as Ledger and BitGo, Thales is protecting the way industries are conducting business, bringing efficiency and establishing trust. Thales also supports multiple blockchain applications including Bitcoin, Bitcoin Cash, Hyperledger, Ethereum, Altcoins, Monero, and more.
About Quartz – The Smart Ledgers
Quartz – the Smart Ledgers™, is a startup incubated by TCS, and provides foundational technology, tools and business components for creating distributed ledger solutions across varied industries. Quartz redefines how organizations can collaborate in an increasingly connected world, and leverage their collective strengths using blockchain technology. The suite comprises Smart Solutions, a set of ‘designed for blockchain’ business offerings for different industries; Quartz Ledgers, Off-the-shelf ledger structures, functions and APIs for business processes across various domains; the Quartz DevKit, a smart contract development kit to enable programming of high quality code on multiple blockchain platforms; the Quartz Gateway & Command Center for the integration of existing solutions with blockchain ecosystems and their administration and supervision. Built on the core principles of Coexistence, Integration and Interoperability, Quartz enables existing systems to coexist and integrate with blockchain platforms and other messaging networks. With data masking, privacy and anonymity - the premise on which the solutions are designed - organizations can focus on enhancing their core competitive strengths in an environment of utmost security.
With Quartz, you can also facilitate the creation of a complete decentralized ecosystem for stakeholders in your value chain. Quartz caters to organizations across Industry segments including Financial Services, Banking, Supply Chain, Energy & Utilities and eGovernance.
To know more about Quartz, please visit: https://www.tcs.com/quartz-blockchain-solutions
About Tata Consultancy Services
Tata Consultancy Services is an IT services, consulting and business solutions organization that has been partnering with many of the world’s largest businesses in their transformation journeys for over 50 years. TCS offers a consulting-led, cognitive powered, integrated portfolio of business, technology and engineering services and solutions. This is delivered through its unique Location Independent Agile™ delivery model, recognized as a benchmark of excellence in software development.
A part of the Tata group, India's largest multinational business group, TCS has over 488,000 of the world’s best-trained consultants in 46 countries. The company generated consolidated revenues of US $22.2 billion in the fiscal year ended March 31, 2021, and is listed on the BSE (formerly Bombay Stock Exchange) and the NSE (National Stock Exchange) in India. TCS' proactive stance on climate change and award-winning work with communities across the world have earned it a place in leading sustainability indices such as the MSCI Global Sustainability Index and the FTSE4Good Emerging Index. For more information, visit www.tcs.com and follow TCS news at @TCS_News.
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