Indian telecom major, bharti airtel has picked a strategic stake in Singapore-based Blockchain platform Aqilliz for an undisclosed sum. The company looks to deploy the new Blockchain technology to scale up operations 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 Programmes,” Adarsh Nair, CEO, Airtel Digital said.
Aqilliz has developed a patented hybrid blockchain platform called ‘Atom' that integrates differential privacy and federated learning on a distributed digital ledger.
The new platform allows brands to create secure and consent-based solutions to engage with customers in a rapidly-evolving digital economy that's becoming increasingly decentralised.
“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,” Gowthaman Ragothaman, Founding CEO, Aqilliz said.
The Airtel Startup Accelerator Programme invests in early-stage startups working on technologies that have adjacencies to Airtel's business offerings. The programme gives startups an opportunity to deploy their technologies and applications at a massive scale, which includes more than 340 million retail customers and over 1 million businesses.