Bharti Airtel acquires strategic stake in blockchain technology startup Aqilliz

Industry:    2022-02-24

Bharti Airtel on Thursday announced the acquisition of a strategic stake in blockchain technology startup Aqilliz.

Singapore-based Aqilliz has developed a patented hybrid blockchain platform, Atom that integrates differential privacy and federated learning on a distributed digital ledger, Airtel said in a statement.

This allows brands to create secure and consent-based solutions to engage with customers in a rapidly evolving digital economy that’s becoming increasingly decentralised, it said.

Bharti Airtel shares were trading lower at 3.28% in early morning deals today at ₹681.30 apiece on NSE.

Airtel aims to deploy Aqilliz’s blockchain technologies at scale across its fast growing Adtech (Airtel Ads), digital entertainment (Wynk Music & Airtel Xstream) and digital marketplace (Airtel Thanks App) offerings.

“Blockchain technology is maturing and we see its application across areas such as Adtech, Creator Economy, and Loyalty Programs. We are thrilled to have Aqilliz join our Startup Accelerator Program and be part of Airtel’s digital innovation factory,” said Airtel Digital CEO Adarsh Nair.

Aqilliz’s patented technology will enable Airtel to capture and carry this value exchange in the form of consent and provenance across the digital supply chain. We look forward to working closely with the team at Airtel, said Aqilliz’s Founding CEO Gowthaman Ragothaman.

print
Source: