Samsung SDS, the IT subsidiary of global tech giant Samsung, has announced a joint initiative to launch a new blockchain-based traceability product.

To develop the new project, Samsung SDS partnered with American software firm Pega and Tech Mahindra, a subsidiary of major Indian multinational conglomerate holding company Mahindra Group, according to a press release on Oct. 16.

Specifically, the joint initiative will be a combination of Samsung SDS’s enterprise blockchain platform Nexledger Universal and Pega’s digital process automation platform Pega Platform. By integrating Pega’s core product with Nexledger, the firms aim to develop improvements for supply chain systems, the press release states.

The solution will target a number of related industries, including banking and financial services, insurance, manufacturing, public services as well as supply chain logistics, the firms said in the announcement.

Samsung SDS, Tech Mahindra and Pega have previously established partnerships

The news follows an announcement of a strategic collaboration between Samsung SDS and Tech Mahindra to develop and promote Nexledger in Indian and global markets, as reported in April 2019. The product offers an open-source, hybrid and private blockchain platform that integrates a set of components including monitoring tools, external linkages and application programming interfaces.

Tech Mahindra and Pega have been jointly developed business products based on Pega’s customer management tools since 2003, the press release notes.

On April 24, 2019, Samsung SDS released a new version of Nexledger Universal, an application programming interface combining the support of multiple blockchains such as Ethereum, Hyperledger Fabric and Samsung’s Nexledger Consensus Algorithm.