Zensar Technologies rises 5.1% on announcement of blockchain solution, DICES

Zensar Technologies Ltd., a leading digital solutions and technology services company witnessed a rally of 5.1% on Tuesday on its announcement of the launch of its blockchain-based contract management solutions for enterprises.
The stock at 2:50 pm was trading at Rs 189.55, up by Rs 9.20 or 5.1%. On Monday, the stock had closed at Rs 180.35 on the NSE.

Zensar Technologies Ltd., a leading digital solutions and technology services company witnessed a rally of 5.1% on Tuesday on its announcement of the launch of its blockchain-based contract management solutions for enterprises.

The Pune based subsidiary of RPG Group specializes in partnering with global organizations across industries on their Digital transformation. The solutions called DICES (Distributed Intelligent Contract Enforcement System) focuses on contract enforcement while the other solution, called ZenConfluence is an enabling solution on which other applications can run.

The stock at 2:50 pm was trading at Rs 189.55, up by Rs 9.20 or 5.1%. On Monday, the stock had closed at Rs 180.35 on the NSE.

Commenting on this launch, Sandeep Kishore, Chief Executive Officer and Managing Director, Zensar said, “Our Zenlabs team is focused on futuristic technologies to build solutions which help companies manage critical operations in a more efficient manner. Our latest blockchain based offering in contract management will enable our customers to remain agile and competitive. Today, technologies like blockchain, NLP etc. are helping resolve real-life challenges with visible outcomes. Our spirit of innovation is in keeping with what our customers need to enhance their business operations.”

Madhwesh Kulkarni, Senior Vice President and Global Head, Technology Transformation Group, Zensar commented, “Our new blockchain solutions, have been created in-house and address two set of challenges within the overall contract management operations. As enterprises progress to a digital existence, new tools and platforms are needed to enable the transition to the digital world. At Zenlabs, our key objective is to explore new ways of bringing value to our customers.”

The company regulatory filing on Monday stated. DICES is a contract enforcement system which facilitates the conversion and deployment of plain text legal agreements into blockchain-based smart contracts. Almost all organizations have huge volumes of transactional contracts, agreements wherein the enforcement is based on achievement of a goal, an event or a milestone. DICES uses a combination of NLP (Natural Language Processing) and a transpiler (patent pending) to extract the clauses that can be coded to create smart contracts.

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