Expanding interest in utilizing the promise of irrevocable asset transfer recording abilities seemingly available from blockchain technologies has incented Infosys, like its peer group, to ramp up its capabilities to serve existing banking clients.
“We took the open source platform that is the base for bitcoin and extended it with services for banking and financial services,” said Andy Dey, president at EdgeVerve. It could run within one department of a bank, across multiple departments or across many organizations, he added.
It remains to be seen how blockchains split off from the proof of work incentive of Bitcoin functions, especially within trusted and reliable environments as mentioned above.
Overview by Joseph Walent, Senior Analyst, Emerging Technologies at Mercator Advisory Group
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