Wipro has joined the Enterprise Ethereum Alliance (EEA) as a founding member. The EEA is founded to promote, develop and implement enterprise grade Ethereum-based blockchain applications.
Bengaluru-headquartered Wipro has been actively contributing to Ethereum. The open source platform features blockchain-based computing with smart contract functionality.
“We are excited to be a part of the founding team of the Enterprise Ethereum Alliance and contribute towards key aspects such as security, privacy and scalability as they will be the key determinants in accelerating blockchain adoption within enterprises,” said Krishnakumar N Menon, vice president of service transformation, Wipro Limited, in a joint statement.
Wipro’s research and development on Ethereum will emphasis more on privacy, scalability, confidentiality and security. The solution also enables the development of blockchain-based industry solutions such as Delivery versus Payments (DvP) settlement for securities and capital markets, skip-trace consortia for banking, peer-to-peer (P2P) insurance for the sharing economy and anti-counterfeit solution for supply chain traceability.
“It is great to have Wipro as a founding member of the Enterprise Ethereum Alliance,” said Marley Gray, principal blockchain architect, Microsoft.
Blockchain as a point of focus
In addition to the in-house developments, Ethereum is being used by Wipro client companies. The Indian IT giant has also established the Blockchain Innovation Lab as part of its Blockchain COE (Center of Excellence) to support the advanced developments. The lab has been founded to build use-case specific blockchain solutions.