TCS Quartz, Cryptocurrency Trading platform for India
Explaination of TCS’s Quartz by cryptic Ocean
In India all the cryptocurrency enthusiastic are struggling to trade freely as there are no regulations from bank and RBI or even we cannot see any support from Indian government in favor of cryptocurrency, we have seen many cryptocurrency exchanges are fighting alone in India and looking for regulation to operate operations in India some of the exchanges doing great are WazirX and Coin DCX.
Now Cryptocurrency community in India got some light of hope when TCS announced its Quartz platform on 8th July 2020, lets discuss in depth how it works and how it will help adoption of cryptocurrency and blockchain in India.
What is Quartz ?
Quartz is a TCS main product that will allow Indian banks and financial investment firms to enable investments and portfolio diversification into Cryptocurrencies and Digital Assets for their clients.
Quartz can also be consider as a Smart Solution for Crypto Services, a next-gen, digitally powered offering for banks and investment firms to provide secure and seamless cryptocurrency trading to their clientele.
What Quartz is offering to bank and investment firms ?
According to TCS, this solution is designed to support multiple cryptocurrencies and stable coins, digital currencies linked to fiat currencies, trading venues and public blockchain networks, thus offering choice and flexibility to customers when deciding their trading and investment strategies. Importantly, it can help banks and investment firms offer their customers the ability to transfer payments in the form of ‘digital cash’, and benefit from lower transaction costs and quicker access to liquidity.
Security of Quartz ?
According to coin telegraph report on june 11th, we have seen a hack of 336 BTC that valued around 25 crore INR, from cryptocurrency exchange CASHAA also we all are aware of attacks on ethereum blockchain and DeFi solutions has been increased immensely to stop hacks and attacks on exchanges quartz come up with major security promises.
According to TCS, Quartz is integrated with a best-in-class hardware security module that enables cryptographic signing of each transaction, thereby ensuring security and authenticity. With state-of-the-art features such as multi-signature wallets with an in-built authorization engine that enables configurable transaction approval policies, blockchain forensic checks, auto reconciliation and compliance alerts, exchange and OTC desk connectivity and audit capabilities, among others, it ensures that a transaction is executed only after proper validation as well as authorization by the user.”
Message from R Vivekanand, Global Head, Quartz, TCS.
Cryptocurrencies, digital fiat currencies and digital assets are poised to become viable alternate avenues for investments, hedging and portfolio diversification. Progressive financial institutions are looking to provide these options to their clientele. We are excited to offer them our robust, secure and scalable solution for trading, storing and transfer of these assets. We believe Quartz is well ahead of the curve in providing such a solution that allows customers to transact in multiple cryptocurrencies and digital assets, backed by best-in-class security featuresWhat Quartz Smart Ledger Solution ?
A ledger is the record of transactions being done among Bitcoin users. e.g Blockchain, Ethereum etc. Also it is a secured database which stores and holds the money of people in the form of bitcoins or any other cryptocurrency, So company has defined its ledger as a startup incubated that provides foundational technology, tools and business components for creating distributed ledger solutions across varied industries.
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.
Smart Contracts on Quartz
A smart contract is a computer program or a transaction protocol which is intended to automatically execute, control or document legally relevant events and actions according to the terms of a contract or an agreement. quartz also enabled its dev kit for developer to work on smart contracts and build seamless application or we can say Dapp.
Quartz DevKit is a low code smart contract development kit to enable programming of high quality code on multiple technologies, it will also provide solution of interoperability of different blockchain.
With Quartz, TCS also claimes that you can also facilitate the creation of a complete distributed ledger ecosystem for stakeholders in your value chain.
Features of Quartz
High class Security Platform
Enable banks and investment firms to trade crypto
Support existing cryptocurrency, fiat backed stable coins
Multi signature wallet
Reconciliation and compliance alerts
Connectivity with Exchange and OTC platform
Quartz launch Event
Quartz™ is hosting a Live Event from Quartz Cast with our partner, TechEx Digital on ‘The New Age Crypto World’ on 15th July 2020, 11:00 AM BST/12:00 PM/CEST/3:30 PM IST.
Moderator:
- R. Vivekanand, Vice President and Co-Head, TCS Financial Solutions, Tata Consultancy Services
Speakers:
- Adrian C. Bürgi, Managing Partner, Lloyd’s & Partners AG
- Lucas Landolt, Director Operations, Lloyd’s & Partners AG
- Shiv Kumar Bhasin, Chief Technology and Operations Officer, National Stock Exchange of India
We are working to make INDIA crypto friendly. Please connect us to know more about how blockchain works ? what is cryptocurrency ? what is tokenization ? How cryptocurrency Exchanges works ? What is smart contracts ?
Cryptic Ocean is a Blockchain development company to build enterprise blockchain solutions.
Cryptic Ocean provides you the best blockchain solutions for allthe industrie please fill the form on website to discuss your next dapp or blockchain solution. we also work on smart contract security audit and development.
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