Technology Investments in Blockchain

Blockchain Service Provider assessment Any company or firms seeking to gain maximum benefits on blockchain’s potential to increase operational efficiency and to enable new business models and client solutions should consider coming up with a blockchain consortium, or rather join an already established one. While doing this, they have to heed the advice of the first-generation consortia. There are two types of such consortia; the business and technology-focused consortia.
  • Business-focused consortia aim at building and operating a blockchain-based business platform that forms a specific problem such as the Digital Trade Chain and Deloitte.
  • Technology-focused consortia seek to develop reusable blockchain platforms based on technical standards such as the Hyper ledger, which includes companies in finance, banking, logistics and manufacturing such as IAP, IBM, Intel, Fujitsu, and Daimler.
  • Some consortia, however, cover both activities.
  Companies join blockchain consortia as it provides a low-risk effort to stay relevant on blockchain trends, learn about your competitor’s activities, for safety against potential new threats and prepare to implement the technology in case the companies enjoy its benefits. In 2015, there was a lot of positive talk about Blockchains, due to transparency and immutable nature of its transactions. Firms have been able to use the platform to their benefit as illustrated; Fujitsu; has been able to drive adoption of the technology with leading BFSI firms in Asia Cognizant; TCS is focusing on applying Blockchain to capital markets. Capgemini; together with Accenture are the leading providers in the advisory segments in educating customers on how the technology works and its potential advantages. Infosys; has invested in hiring talents, training internal resources and blockchain research. Deloitte; its Rubix offering is a great alternative to IBM for accelerated client experimentation and embracement. IBM; has been able to make investments and is rightly positioned to assist its clients with experimentation and even adoption of blockchain technology.

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