Infosys Starts 50 Blockchain Pilots

Infosys Starts 50 Blockchain Pilots

Indian software services company Infosys is working on 50 different blockchain pilots with a number of them in non-financial services.

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Indian software services company Infosys is working on 50 different blockchain pilots with a number of them in non-financial services.

Also, a local online media named Business Line (thehindubusinessline.com) has recently written about the subject.

Speaking to Business Line, Prasad Joshi, Vice-President and Head, Infosys Center for Emerging Technology Solutions, explained that the software giant has formed blockchain workgroups from each industry.

“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.”, as he said.

According to the article, Infosys` revenue coming from top 5 customers in 2017 fiscal decreased to 14.1 per cent from 15.7 per cent in the 2016 fiscal, showing that the company needs to work on new technologies.

A big part of their 50 pilot projects has been done for non-financial services areas. For example, insurance company AIG and IBM have trialed a “smart contract” multi-national policy for Standard Chartered Bank. The project is using blockchain to facilitate sharing of real-time information for a main policy written in the UK and three local policies in the US, Singapore and Kenya.

“With blockchain, you can get a dashboard in which all parties can look at the information and make decisions accordingly.”, as Joshi commented.

Infosys thinks that there is a huge opportunity to use blockchain in sectors that are beyond financial services. One such project is done for an unnamed US coffee company`s retail supply chain. The service facilitates transactions between the coffee company, the coffee growers and other parties in the supply chain.

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