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Bharti Airtel (Airtel) on Thursday said it has acquired a strategic stake in Singapore-based Aqilliz – a blockchain as a service company under the Airtel Startup Accelerator Programme, subject to applicable statutory approvals.
Aqilliz has developed a patented hybrid blockchain platform, Atom that integrates differential privacy and federated learning on a distributed digital ledger. 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 said in a statement.
Airtel aims to deploy Aqilliz’s advanced blockchain technologies at scale across its Adtech (Airtel Ads), Digital Entertainment (Wynk Music and Airtel Xstream) and Digital Marketplace (Airtel Thanks App) offerings, it said.
"Blockchain technology is maturing and we see its application across areas such as Adtech, Creator Economy, and Loyalty Programmes. We are thrilled to have Aqilliz join our Startup Accelerator Programme and be part of Airtel’s digital innovation factory," Adarsh Nair, Chief Executive Officer – Airtel Digital, said.
Airtel Startup Accelerator Programme invests in early-stage startups working on technologies that have adjacencies to Airtel’s business offerings. The programme allows startups to deploy their technologies and applications at a massive scale, including 340 million+ retail customers and over the one-million+ business. In addition to funding, the programme offers mentorship from Airtel’s leadership team and access to Airtel’s global strategic partners, the company said.
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.
“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.
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