Quartz™ - Decentralized Solutions for Enterprises and Ecosystems

TCS’ Blockchain Solution, Quartz™ Ranked #1 Best Performing Fraud Management Solution

 Blockchain or DLT has the potential to be one of the foundational technologies for tomorrow’s businesses and in helping organizations across various industry domains in leveraging decentralized architectures for their businesses. Organizations are already moving towards implementing blockchain technology at scale, in order to drive digitization and automation of business processes. Blockchain is being harnessed today to improve trust and transparency, foster collaboration, eliminate redundancies and reduce risk and time. It is being explored in areas as varied as digital identities and registries, payments, settlements, information exchange, trade, e-Governance, healthcare, Insurance, supply chain, provenance of commodities, music, art and collectibles. The technology also has the power to bring organizations together by enabling ecosystems that amplify the value delivered by each on a stand-alone basis.

Quartz Smart Solutions Businesses are actively collaborating in the creation of connected ecosystems which can offer real-time, efficient transaction processing, without the need for intervention from intermediaries.  DLT with its ability to synchronize data across participating entities, builds trust and encourages firms to collaborate in setting up such ecosystems.  Firms are best served adopting a philosophy of ‘co-existence’, of combining the best of their existing solutions with distributed technology, even while moving appropriate parts of the business to decentralised solutions. This approach can help organizations manage risk, save costs and roll out new services that can benefit from the decentralization which the technology offers.   The introduction of blockchain into an ecosystem implies that it needs to ‘integrate’ all connecting systems or nodes. Such an integration is needed, to not only enable a handshake of existing systems with the blockchain, but to also allow the ecosystem to leverage standard messaging networks as applicable as a way to manage the change and leverage existing data standards. Blockchain is an evolving technology with different platforms competing to offer varied features, that address real-life issues around the need to manage confidentiality, consensus and security.  ‘Interoperability’ with multiple blockchain technologies, platforms and ecosystems, and even non-blockchain networks will be a critical element to ensure that organizations realize its true benefits. Data exchange between various blockchain networks will be the first step towards interoperability, which will further expand to transaction flows. Quartz - The Smart Ledgers Quartz solutions are targeted at helping organizations across industries to leverage blockchain meaningfully for their businesses. They comprise the following: Quartz DevKit – A Smart contract development kit that enables the development of high quality code for different mainstream Blockchain technologies Quartz Gateway & Command Center - To enable the seamless integration of existing applications with blockchain ecosystem(s)/network(s) and to facilitate their administration and governance Quartz Smart Solutions - ‘Designed for Blockchain’ business solutions Quartz Ledgers - Off-the-shelf ledger structures, functions and APIs for business processes across various domains, to enable solutions to be quickly built around them Quartz Smart Solutions are comprehensive solutions with business and domain aware ‘Smart Contracts’ that help automate processing on the blockchain platform. A Smart contract is a ‘self-executable’ software that is stored on the ledger and triggered either because of specific events occurring within it or from pre-configured rules that are programmed into these contracts. Participants can provide, consume and instruct these transactions on the ledger based on their role and privileges.  Smart Solutions are designed as a combination of on-chain services deployed on Blockchain and off-chain services, residing on traditional databases or f iles, thus ensuring that only business processes well suited for blockchain are deployed on chain.     Some of the readily available Smart Solutions include Rewards Points, Contract Authoring, Settlements, Announcements, Crypto Services, Loan Securitization, Facultative Reinsurance, Cross Border Remittances, Markets (for Tokenized assets), Contract Performance Monitoring, Resource Management and KYC. Quartz Ledgers  Quartz Ledgers comprise predefined, off-the-shelf ledger structures, data models, functions and APIs for business processes across industries. These are conceived as “building blocks” on top of which solutions can be developed and deployed seamlessly, thus enabling customers implement decentralized solutions faster, in an agile manner, and at scale. Quartz DevKit Quartz DevKit – an Intuitive, Low code smart contract development kit - is designed to help software developers introduce blockchain into their business processes, and generate, compile, package, and deploy business code on the blockchain. The Quartz DevKit also comprises a standard set of architectural features covering security, data privacy, access controls, user management, audit trails and logging framework. These are together represented as Quartz Foundation Components. Using DevKit’s pre-built components for platform setup, administration and deployment, platform security authentication, encryption, and node as well as identity and user management, programmers can write smart contracts 40% faster. This enables organizations in targeting faster launch timeframes on blockchain. This can be further accelerated by combining Quartz Smart Ledgers.