HIGHLIGHTS
- The financial terms of the transaction are not known.
- Atom, a unique hybrid blockchain platform developed by Aqilliz.
- The funding comes from the Airtel Startup Accelerator Program.
Bharti Airtel stated on Thursday that it has acquired a strategic position in Aqilliz, a Blockchain-as-a-Service startup. Airtel intends to leverage Aqilliz's blockchain technology across its rapidly expanding adtech (Airtel Ads), digital entertainment (Wynk Music and Airtel Xstream), and digital commerce (Airtel Thanks App) services.
"Bharti Airtel has acquired a strategic position in Aqilliz – a Blockchain-as-a-Service firm, subject to necessary legislative clearances," the company stated in a statement. The financial terms of the transaction were not disclosed.
Aqilliz, located in Singapore, has created Atom, a patented hybrid blockchain technology that combines differential privacy with federated learning on a distributed digital ledger. According to the statement, this enables marketers to establish safe and consent-based solutions for engaging with customers in a quickly expanding digital economy that is becoming increasingly decentralised.
