Wipro to develop Blockchain based solution

Wipro Limited a leading IT consulting and business firm, based in India has joined Enterprise Ethereum Alliance (EEA) as a founding member to develop Enterprise-Grade Blockchain solutions.

EEA is a consortium of enterprises to promote, develop and deploy enterprise grade Ethereum-based blockchain applications across different business sectors.

Wipro is one of the leading IT companies in India and has major global clients for IT consultation and business processes.

Blockchain is already being adopted by various companies around the world and is disrupting the data storage and transmission processes.

Ethereum is basically an open-source, blockchain-based platform, featuring smart contract functionality. Ether, the cryptocurrency which is used while developing and implementing of Ethereum based blockchain platform, is the second most valuable crypto currency after Bitcoin. It recently made it’s all time high . Later, it even  surpassed that level to make another all-time high. It is presently priced around $90.

The EEA consortium seeks to augment Ethereum adoption as an enterprise-grade technology, with research and development focused on privacy, confidentiality, scalability and security.

Wipro is actively working to develop Ethereum based blockchain platforms to cater specific industries and their uses. Some of these platforms 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 various others.

Wipro has constituted a Blockchain Innovation Lab, which is a part of it’s Blockchain COE(Center of Excellence) . Through this, Wipro will start developing blockchain based platforms for specific industrial uses.

The COE focuses to enable client businesses innovate and to stay upto date with the emerging technology trends in the field of Blockchain. To enable enterprise level talent development on blockchain technologies like Enterprise Ethereum, Wipro has also constituted a Blockchain Academy to build in-house competency through a multi-level program.

“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”, a statement by Jeremy Millar, founder of Enterprise Ethereum 

Krishnakumar N Menon, Vice President, Service Transformation, Wipro Limited said:

“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,”

Marley Gray, Principal Blockchain Architect, Microsoft said

“It’s great to have Wipro as a founding member of the Enterprise Ethereum Alliance. Having organizations like Wipro driving purpose-built solutions and accelerating innovation for businesses, adds significant credibility to the Enterprise Ethereum ecosystem,” said

Blockchain is already a massive hit worldwide. Various organizations are actively working and developing disruptive products built on Blockchain technology. Wipro, making this initiative will surely boost the confidence  and encourage Blockchain developers in India to build products based on Blockchain technology.

There are some startups in India which are working in Blockchain sector. This number is expected to grow in future.

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Also Read:

Bajaj Electricals and Yes Bank adopts Blockchain Technology

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