Wipro Limited, an Indian IT giant, has announced that it has joined the Enterprise Ethereum Alliance (EEA) as a founding member.

Launched earlier this year, EEA is a collaboration of enterprises to promote, develop and implement enterprise grade Ethereum-based blockchain applications across industries for specific business use cases. Its founding members include the likes of Accenture, Banco Santander, BNY Mellon, Intel, J.P. Morgan, Microsoft, and Nuco, among others.

Ethereum is an open-source, blockchain-based distributed computing platform, with smart contract functionality. The primary objective behind setting up of EEA is to augment Ethereum adoption as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability, and security.

"The EEA benefits from a diverse, yet enterprise-focused membership base. Wipro brings a global perspective on IT strategy and operations to this alliance. We are very pleased to have Wipro as a member as we launch the Enterprise Ethereum Alliance”, Jeremy Millar, founder of Enterprise Ethereum said.

According to the official release, Wipro is actively working on Ethereum to develop enterprise blockchain-based industry solutions and assets on a number of industry use cases. These solutions include Delivery versus Payments (DvP) settlement for securities and capital markets, skip-trace consortia for banking, peer-to-peer (P2P) insurance for the sharing economy, anti-counterfeit solution for supply chain traceability and many more.

“We are excited to be a part of the founding team of the Enterprise Ethereum Alliance and contribute towards key aspects such as security, privacy and scalability as they will be the key determinants in accelerating blockchain adoption within enterprises. Enterprise Ethereum is a great way to fast-track enterprise adoption and Ethereum is one of the fastest growing technology platforms used by our clients for developing and deploying enterprise blockchain,” said Krishnakumar N Menon, Vice President, Service Transformation, Wipro Limited. “Enterprise Ethereum Alliance also fosters collaboration within the emerging community of blockchain developers. We look forward to working actively with the members of this alliance to shape the blockchain adoption by enterprises.”

Wipro last year launched Blockchain Innovation Lab in order to fast track the provisioning of blockchain environments to build use-case specific blockchain industry solutions. It is a part of its Blockchain COE (Center of Excellence), which aims to enable client businesses to innovate and to stay in tune with the emerging technology trends in blockchain by conducting proof of technology experiments around areas like scalability, performance, and security of blockchain platforms.

Furthermore, the tech major has also created a Blockchain Academy to build in-house competency through a multi-level program.