Wipro strengthens prowess in blockchain

Wipro, the third largest IT services company, has decided to strengthen blockchain capabilities through Wipro Blockchain Innovation Lab, and aims to deploy the solution at the customer premises.

In an interaction with DH, Wipro Chief Technology Officer K R Sanjiv said the company has developed the blockchain-based solution for the banking financial service and insurance (BFSI), manufacturing, retail and consumer good industries.

“We have our Blockchain Innovation Lab which has developed nine solutions. Besides giving training to our employees, we deploy blockchain experts by bringing fresh talents. Here we define, design and co-develop solutions along with our clients,” said Sanjiv.

The Wipro Innovation Labs industry solutions span across areas such as delivery v/s payments (DvP), tri-party collateral management, skip trace consortia, trade finance, peer-to-peer (P2P) insurance for the sharing economy and loyalty rewards management in the BFSI sector.

Wipro has developed solutions that address areas like anti-counterfeit solutions and airworthiness certificate tracking in the manufacturing industry and supply chain traceability across industries. “The benefits of these solutions include improved process efficiency, optimised costs and the ability to foster innovative business models. By leveraging the blockchain environments in a cloud-based lab, clients are able to fast-track the development of blockchain solutions,” he said.

Wipro Vice President — Service Transformation — Krishnakumar N Menon said the company’s approach to blockchain is innovation-led, powered by industry acknowledged advisory and consulting capability and a strong CoE (Centre of Excellence) focus.

“Global clients are keen to de-mystify blockchain technology and actively pursue blockchain solutions for identified use cases, which can rapidly scale to production. The next-generation of digital ecosystems will be built on blockchain and we are scaling blockchain programs in line with client requirements,” said Menon.