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Indian IT Giant Wipro Joins the Enterprise Ethereum Alliance as Founding Member

Last Updated March 4, 2021 4:56 PM
Samburaj Das
Last Updated March 4, 2021 4:56 PM

Indian IT services and consulting powerhouse Wipro has joined the Enterprise Ethereum Alliance (EEA) as a founding member to develop enterprise-grade blockchain solutions.

In an announcement yesterday, Wipro revealed that it has already been working with the Ethereum blockchain to develop solutions for enterprises across a number of industries. These solutions include developments in peer-to-peer insurance, ‘Delivery versus Payments’ settlement for securities and capital markets, anti-counterfeit solutions for supply chain transactions that enhance traceability and more.

Enterprise Etherum founder Jeremy Millar stated:

The EEA benefits from a diverse, yet enterprise-focused memebership base. Wipro brings a global perspective on IT strategy and operations to this alliance.

Based in India’s technology capital of Bangalore, Wipro is among the top three IT companies in India and is a technology provider with clientele around the world.

“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” added Krishnakumar Menon, Wipro vice president for service transformation. Specifically, Wipro is looking at contributing toward ‘key aspects such as security, privacy and scalability’ as the key determinants in accelerating blockchain adoption, the executive added.

The EEA launched toward the end of February this year with 30 founding members including the likes of CME Group, Intel, JPMorgan and Microsoft, among a host of others from the banking, technology, energy and information industries.

Notably, Wipro has been working on developing use-case specific blockchain solutions for industries out of its Innovation Lab at the company’s Blockchain COE (Center of Excellence).

‘The COE focus is to enable client businesses innovate and to say in tune with the merging technology trends in blockchain by conducting proof of technology experiments around areas like scalability, performance and security of blockchain platforms,” an announcement by Wipro read.

Wipro is also encouraging in-house blockchain development by creating a ‘Blockchain Academy’ for its employees.

Featured image from Ethereum.