TCS collaborates with Thales to enhance Quartz blockchain solution

Tata Consultancy Services (TCS) said that its blockchain-based solution Quartz has integrated its ledger management solutions with Thales Group to provide customers with security for custody, trading and settlement transactions across a variety of crypto and digital assets.

According to TCS, while crypto and digital assets are powering the creation of a tokenized economy, secure custody of such assets continues to be an area of worry amid an explosion of digital threats and also the risk of theft.

Quartz utilizes Thales Luna Hardware Security Modules that offer secure encryption, signing and authentication services for safeguarding cryptographic keys against compromise.

Todd Moore – Vice President, Encryption Products, Thales Group 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.”

The enhanced blockchain-based solution, which is targeted at banks, custodians, brokers, marketplaces, and investors in a diverse variety of digital assets, will facilitate strong security, trust, and governance and the end-to-end management of digital assets.

Wallet service providers, token and crypto exchanges and marketplaces with the help of fully automated and highly secure authentication services can customize authentication to address their unique requirements.

Quartz solutions make use of Thales’ FIPS140-2 Level-3 certified HSMs to protect critical operations such as address generation, encoding, and signing of transactions in a secure device to deliver a multi layered governance model for ensuring safety and resilience in digital asset transactions.

TCS collaborates with Thales to enhance Quartz blockchain solution. Image courtesy of Pete Linforth from Pixabay.

R Vivekanand – Global Head, Quartz, TCS said: “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.

“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.”

Last month, TCS Tata Consultancy Services (TCS) introduced Quartz for Markets for enabling exchanges, financial institutions, and other market infrastructure institutions (MIIs) to innovate with tokenized assets.