EPAM’s Team Of Experts To Explore Blockchain Technology

EPAM Systems, Inc., a global provider of software engineering and IT consulting services headquartered in the U.S., is the latest company to show its interest in the blockchain technology that underpins digital currencies such as bitcoin. The technology has the potential to be implemented across multiple industries and can disrupt traditional financial system.

“Several global teams have been working to define and implement distributed ledger technology within the financial industry. Through our research, we have learned that similar concepts work across multiple industries, from Insurance to Retail”, said Balazs Fejes, Co-Head of Global Business, EPAM.

The company recently announced that a global team of experts will be focused on identifying and implementing a new category of solutions using blockchain technology.  EPAM believes that the technology represents a paradigm shift in software development, enabling the transition from distributed computing to distributed applications.

“We are excited to apply our substantial engineering capabilities to help drive blockchain technology innovation in Fin-tech and other industries,” said  Fejes. “Given the potential disruptive nature of this technology, we are investing our time and resources in designing accelerators that will enable clients to fast-track adoption and time-to-market for their enterprises.”

EPAM’s team is focusing on the wider adoption of technology capabilities supported by blockchain – decentralized consensus, trusted computing, smart contracts and proof of work. Moreover, the team is developing solutions for the online gambling and gaming industry, which has already experienced disruption due to bitcoin/blockchain.

“We are committed to helping our clients explore the benefits of blockchain to help them stay ahead of the potential disruptions to their respective industries”, continued Fejes.