Mphasis India creates first Indian blockchain center of excellence

Rage Comment : Mphasis is an Indian information technology service company that specializes in providing companies with solutions corresponding to the new economic model. On the 19th of this month, the company established its first blockchain center of excellence in India, specializing in pilot projects in related fields. The purpose is to provide companies with rapid and effective blockchain solutions and services. India is a major IT country in the world, and the Indian technology company Mphasis also has a high status in the world, so its blockchain project is still worth paying attention to.

Translation: Annie_Xu

Mphasis, a well-known IT service and solution provider, recently launched its first Center of Excellence (CoE) for developing blockchain solutions at its headquarters in Bangalore. This dedicated lab is responsible for research, rapid prototyping, creation of use cases and IP addresses for blockchain technology and platforms. The Center of Excellence launched a blockchain solution framework that allows enterprises to quickly absorb and deploy blockchain-based solutions and services.

In line with Mphasis's hyper-specialization strategy, this blockchain center of excellence will first develop private blockchain-based solutions for the mortgage, insurance and payment industries. Mphasis' blockchain framework integrates applications, data transport layers, and database engines to interact with public blockchains. The data transport layer is the core of the framework, and its purpose is to help institutions deploy and publish millions of cryptographic proofs on the blockchain. The engine accelerates solution deployment to reduce the deployment complexity and operating costs of blockchain technology applications.

Private blockchains can scale to store millions of auditable, traceable records on a shared ledger. Mphasis’ private blockchain is connected to the Bitcoin network, making its model highly scalable. The blockchain is also interconnected with multiple external data service providers to coordinate the work of multiple entities.

Gopinathan Padmanabhan

Gopinathan Padmanabhan, Chief Innovation Officer and President of Global Delivery, to which Mphasis belongs, said: "We firmly believe that blockchain technology will disrupt business processes in many industries. Although the financial industry will be a leader in blockchain applications and discover innovative use cases for blockchain, it is very likely to be deployed across industries. Financial institutions are likely to be more willing to accept and adopt private blockchains for internal use in the early stages. The relevant solutions provided by Mphasis will help accelerate customers' application of blockchain technology."

Dinesh Venugopal, Chairman of Digital and Strategic Customers at Mphasis, said: “As an enterprise transformation engine, we aspire to be at the center of global technological disruption. The Mphasis blockchain framework continues to focus on innovation and technology, which will revolutionize traditional transaction data rules, reduce costs and increase operational efficiency and legitimacy.”

The Center of Excellence is led by Nitin Narkhede, Vice Chairman and Head of Services Innovation.

Blockchain, the underlying technology of Bitcoin, is regarded as the next big thing in the IT industry. Blockchain is seeking to realize infinite possibilities and use cases across fields.

Introduction to Mphasis

Mphasis helps selected clients adapt to market changes and demands. Recently named one of the top Internet finance companies by American Banker and Bertelsmann Asia Investments (BAI); and named "Most Distinguished Digital Company in 2015" by The Economic Times. Mphasis's growth is driven by superior human capital and cutting-edge solutions in ultra-specialized fields.