EdgeVerve blockchain framework, blockchain service product launched by Indian IT giant Infosys for banks

Today, at the Infosys conference in San Francisco, Indian IT giant Infosys ^[1] announced that it will launch a blockchain service product through its EdgeVerve Systems subsidiary.

The product, called EdgeVerve区块链框架, is designed to further promote the adoption of blockchain technology in the financial services sector. Infosys said the product will be built on a permissioned distributed ledger, allowing banks to "rapidly deploy" blockchain services and provide other benefits.

In promotional materials, EdgeVerve describes the product as a highly scalable distributed ledger system that caters to a variety of assets.

The company concluded:

“Designed specifically for the banking industry, it is scalable to the levels required to support international, cross-border transactional businesses. These capabilities give applications built on this framework a viable platform to run payments and other high-volume banking transaction services.”

Andy Dey, president of EdgeVerve’s client business, said the company will commit resources to a research institute in Ireland and begin working with several unnamed institutional partners to make the most of the framework.

EdgeVerve said it is already working on proofs of concepts in数字金库,发票处理,支付,智能合约,银团贷款and贸易金融方面.

Infosys first talked about blockchain technology a few weeks ago, when company leaders said that blockchain systems will begin to impact the financial sector in the coming years.

With this platform, Infosys will join Microsoft, IBM and Red Hat as IT giants vying for enterprise-grade blockchain solutions in the market.

Notes (↵ returns to text)

1. Infosys Ltd is a global technology services company headquartered in Bangalore, India. It was ranked among the top 20 in the world in 2000, and ranked 14th in the 2008 Forbes World's Most Prestigious List. In 2008, the International Outsourcing Professional Organization released the list of the top 100 global software exporters, and Infosys, Accenture and IBM ranked among the top three in the world. ↵