The private blockchain is scalable to store millions of auditable, quickly traceable records on shared ledgers. Mphasis private blockchain connects to the bitcoin network, which makes the model immensely scalable. The blockchain also interfaces with multiple external data service providers to orchestrate multi entity workflows.
"We strongly believe that the Blockchain technology will disrupt business flows and processes across different industries. While the financial sector will lead the adoption and find innovative use cases of Blockchain, the possibilities it offers across industry segments are significant. Private blockchains are likely to be more acceptable and adopted by financial institutions in the initial adoption stages for their internal processes and Mphasis' solutions in this area will help accelerate the adoption of Blockchain technology by our customers," said Gopinathan Padmanabhan, Chief Innovation Officer and President - Global Delivery, Mphasis.
"Being a business transformation enabler for enterprises, we intend to take center stage in shaping global technological disruptions. Continuing our focus on innovation and technology, Mphasis Blockchain framework will revolutionize legacy practices, help reduce costs as well as increase operational efficiency and legitimacy of transaction data," said Dinesh Venugopal, President – Mphasis Digital and Strategic Customers.
The Mphasis Centre of Excellence for Blockchain technologies will be headed by Nitin Narkhede, Vice President & Head of Service Innovation.
Blockchain, the technology that underpins the bitcoin concept is considered as the next big thing in the IT street. Blockchain is on its way to find infinite possibilities and use cases across industry segments.
Mphasis enables chosen customers to meet the demands of an evolving market place. Recently named by American Banker and BAI as one of the top companies in FinTech and as the "Most Distinguished Digital Company in 2015" by The Economic Times, Mphasis fuels this by combining superior human capital with cutting edge solutions in hyper-specialized areas. Contact Mphasis on www.mphasis.com.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/mphasis-spearheads-first-ever-centre-of-excellence-for-blockchain-technologies-in-india-300300764.html