Bangalore-based Indian IT giant Wipro recently announced that it has joined the Enterprise Ethereum Alliance (EEA) as a founding member. With this, the Indian IT services and consulting powerhouse has joined an esteemed list of companies such as PMorgan Chase & Co, Microsoft, Intel Corp and more than two dozen other companies/banks that had came together late February earlier this year to form the Alliance to develop standards and technology that will make it easier for enterprises to use blockchain code Ethereum in the light of growing interest by large firms all around the world to move toward distributed ledger systems.
During the big announcement, Wipro also revealed that it has already been working closely with the Ethereum blockchain to develop solutions for enterprises across a variety of industries. These solutions includes development of anti-counterfeit solutions for supply chain transactions that improve traceability, peer-to-peer insurance, ‘Delivery versus Payments’ settlement for securities and capital markets and more.
For the uninitiated, Ethereum is an open-source, blockchain-based distributed computing platform that provides a decentralized virtual machine. The project was bootstraped via an ether pre-sale during August 2014 by fans all around the world. It is developed by the Ethereum Foundation, a Swiss nonprofit.
According to Krishnakumar Menon, Wipro vice president for service transformation, “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.” Sharing about what role Wipro will be playing in the EEA, he added, Wipro is looking forward to contributing towards ‘key aspects such as security, privacy and scalability’ as the key determinants in accelerating blockchain adoption.
The Indian IT giant has also been making use of its Innovation Lab at its Blockchain COE (Center of Excellence) for developing use-case specific blockchain solutions for industries.
According to Wipro, its Blockchain COE aims to enable its client businesses to continuously keep innovating in order to keep pace with the merging merging technology trends in blockchain by conducting proof of technology experiments around areas like scalability, performance and security of blockchain platforms.
In addition to all this, Wipro’s blockchain efforts also includes building a ‘Blockchain Academy’ for its employees to encourage in-house blockchain development.
Providing his viewpoint on Wipro joining the EEA, Enterprise Etherum founder Jeremy Millar said, “The EEA benefits from a diverse, yet enterprise-focused memebership base. Wipro brings a global perspective on IT strategy and operations to this alliance.”
[Top Image: blockchaintechnologies]