India’s third-largest software and information technology firm Wipro Ltd., has established a blockchain research facility in India’s IT capital of Bangalore. The IT giant is looking to develop real-world applications and software based on distributed ledger or blockchain technology. Already engaged in several blockchain pilot projects, Wipro has revealed a new research facility established to exclusively research and develop blockchain applications for its clients locally and globally. With a focus on the financial space, Wipro is working on several blockchain-related projects with its banking clients, reports regional publication LiveMint . The aim is to leverage the technology to provide an alternative solution to the likes of existing avenues such as SWIFT. Speaking to the publication, WIPRO chief technology officer K.R. Sanjiv stated: Blockchain is a big focus are because of the potential the technology offers…For us, the focus areas are SWIFT, asset management and identity management. Prototypes and demos have already seen the light of day. The executive also revealed that the company is currently in the process of implementing blockchain technology as “internal use cases” among its customers. The outsourcing giant has partnered with unnamed startups with the aim to scale its blockchain business. India’s dominance as a major outsourcing hub is seeing several of its main players now investing in blockchain research in an effort to cut costs and increase efficiency for its clients. Infosys , a competitor in the space and the largest IT firm in the country, is also one of the largest banking software providers in the world. In April 2015, the firm showed interest in the biggest and most secure distributed of them all – the bitcoin blockchain – to be used in its core banking suite product. More recently, a subsidiary of Infosys launched a blockchain framework for the global financial services […]
