The phenomenal rise of Blockchain technology can be attributed to its capabilities and adoption by some of the big names across industries. As businesses continue to discover new applications of distributed ledger, many companies have come together to upgrade the technology further, making it fit for enterprise level deployment.
Increasing interest in Ethereum and blockchain technology has got companies from across the world rushing to grab a piece of the blockchain pie. Wipro, an Indian IT giant, has become the country’s first company to become part of the recently formed Enterprise Ethereum Alliance. As a founding member of the alliance, Wipro will be working closely with its international counterparts to promote and implement enterprise grade Ethereum-based blockchain applications across industries.
Wipro announced the new development in its recent press release. According to the release, the company has been actively involved in the development of Ethereum-based blockchain applications for a while now. The applications being developed by Wipro caters to a wide range of industries. It goes on to list some of the solutions created by the company which includes Delivery versus Payments Settlement for securities and capital markets, skip-trace consortia for banking, peer to peer insurance for sharing economy, anti-counterfeit solution for supply chain traceability, etc. The solutions have a widespread application predominantly in banking, finance and supply chain management.
The founder of Enterprise Ethereum Alliance, Jeremy Millar welcomed Wipro’s membership in the consortium saying,
“The EEA benefits from a diverse, yet enterprise-focused membership base. Wipro brings a global perspective on IT strategy and operations to this alliance. We are very pleased to have Wipro as a member as we launch the Enterprise Ethereum Alliance.”
The company’s candidature as a founding member of Enterprise Ethereum Alliance seems to be a natural progression due to its increasing interest and involvement in distributed ledger technology. Also, the growing interest in blockchain among Indian banking and business sector has encouraged companies working in this domain to allocate resources for aggressive expansion on a global scale.
In the coming days, many other companies from the sub-continent can be seen joining forces with global players to further the cause of blockchain technology.
Ref: Wipro PR | Image: NewsBTC
