Indian IT giant Infosys announced that it is working on blockchain technology, as it has formed blockchain working groups for each industry verticals, Business Line reported.
According to Prasad Joshi, Vice-President and Head, Infosys Center for Emerging Technology Solutions, the company is working on 50 pilot projects using this nascent technology, where vast majority has been done for non-financial services areas. These are the areas where blockchain is seeing huge interest and adoption.
“Our 500 blockchain specialists and 1,000 consultants form a part of the core group that will take these blockchain technologies to existing and new customers,” Joshi told Business Line.
Infosys sees that there is a vast opportunity for utilizing blockchain technology in business areas outside financial services industry. One of the blockchain pilot that the company is testing is or a US coffee company’s retail supply chain. This pilot will see the contracts between coffee growers and retailers that can change frequently and needs to be captured for compliance purposes across all stakeholders.
“With blockchain, you can get a dashboard in which all parties can look at the information and make decisions accordingly,” Joshi added.
The IT major’s wholly-owned product subsidiary EdgeVerve Systems, recently announced a pilot to launch blockchain network for international remittances and trade finance, along with Emirates NBD, a banking group in West Asia and ICICI Bank.
