Recent ASX debutant TYMLEZ Group (ASX: TYM) is closer to realising its commercialisation plans after global giant Google granted it official partner status through the Google Cloud Technology Partner Program.
Achieving partner status with Google paves the way for TYMLEZ to list its blockchain platform on the Google Cloud Platform Marketplace, enabling the blockchain technology to be promoted and sold.
Commenting on the partnership, Peak Asset Management head of Equity Capital Markets Richard Rouse told Small Caps it shows TYMLEZ’s technology is “increasingly on the radar of the world’s tech titans”.
“This comes on the heels of the quarterly, where the company announced its partnership with Hewlett Packard Enterprise and SUSE is nearing commercialisation.”
TYMLEZ Solution Blockchain Platform
As part of the deal to list its TYMLEZ Solution Blockchain Platform in the Google marketplace, the company will also receive training material for its developers and Google credits to use the Google Cloud Platform for development and testing, in addition to customer demonstrations and “proof of concept” opportunities.
TYMLEZ’s platform is scalable and can be deployed in minutes. It gives large enterprises access to its commercial-grade, smart contract, blockchain technology which can boost efficiencies, security, automation and risk and compliance for customers.
The platform offers a decentralised network – which ensures there is no single point that could fail and crash the entire system. The technology also generates a permanent record that is secure and can’t be tampered with. Additionally, the platform allows unique assets to be transferred over the internet without a middle-centralised agent.
Partners can also roll out the TYMLEZ Solution Blockchain Platform within a single company or across a consortium.
Renowned clientele buys into TYMLEZ platform
Collaring Google as a partner follows on from TYMLEZ’s collaboration with German-based Linux developer SUSE and US Fortune 500 company Hewlett Packard Enterprise.
During the December quarter, the collaboration gained positive traction in advancing the partnership to commercial stage, with the final solution to provide an instant environment for programming decentralised blockchain-based applications.
“Software blueprints act as templates to reduce development time and help simplify the process of application deployment,” TYMLEZ explained.
Other notable partnerships under advancement include BGC Plantinion (Boston Consulting Group), which currently uses TYMLEZ’s platform to develop proof-of-concept applications as solutions to its own clients.
International advocacy organisation Save the Children is using TYMLEZ’s technology to build an application for secure encryption of sensitive files, but also controlled access to the data, while generating a complete audit trail of information that could be inspected by participants and regulators.
Meanwhile, Grant Thornton is a direct customer and one of the world’s largest independent consulting and accounting firms.
At Grant Thornton, TYMLEZ’s platform was used to develop a secure document sharing application – enabling annual reporting to be managed by Grant Thornton’s accountants, auditors and customers.
The platform facilitates further automation, reduced processing timelines and overhead costs, while ensuring a secure and encrypted document exchange between individuals.
Blockchain market value
TYMLEZ anticipates the addressable market for blockchain applications will reach US$176 billion by 2025 and rocket to $3.1 trillion by 2030.
As its technology advances and the company locks-in more direct customers and partnerships, TYMLEZ hopes to secure itself a substantial slice of the blockchain pie.
TYMLEZ chief executive officer Michael Reh said he looked forward to updating investors on the “exciting” Google partnership.
“This is a great endorsement of our platform and an excellent distribution platform for accelerated and scalable sales growth,” he added.