Bharti Airtel has today announced that it has acquired a strategic stake in Aqilliz, a Blockchain as a Service Company. This is under the Airtel Startup Accelerator Program which is subject to applicable statutory approvals.
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.
Airtel aims to deploy Aqilliz’s advanced 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.
Airtel Startup Accelerator Program invests in early stage start-ups working on technologies that have adjacencies to Airtel’s business offerings. The Program gives Startups the opportunity to deploy their technologies and applications at a massive scale. This includes 340M+ retail customers and over 1M+ business. In addition to funding, the Program offers mentorship from Airtel’s leadership team and access to Airtel’s global strategic partners.
Recently, Airtel launched the ‘Airtel India Startup Innovation Challenge’ in partnership with Invest India. Early stage Indian startups were invited to demonstrate solutions for 5G, IoT, Cloud Communications, Digital Advertising and Digital Entertainment. 10 winners will get the opportunity to access Airtel’s digital engineering ecosystem to co-create solutions and select few will be inducted into the Airtel Startup Accelerator Program.
Meanwhile recently, Bharti Airtel, CEO, Gopal Vittal said that Airtel is set for another tariff hike this year. However, he revealed that the hike won’t be in the next three to four months. The full impact of the revised mobile tariffs will be visible in the fourth quarter.