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© 2019 Avasant LLC. All Rights Reserved.Proprietary and Confidential. No part of this document may be reproduced in any form or by any electronic or mechanical means,including information storage and retrieval devices or systems, without prior written permission from Avasant LLC.
October 2019
Enabling ecosystem thinking for collaborative success
Blockchain Services RadarViewTM 2019
2
Table of Contents
• About the Blockchain Services RadarView 2019 Report
• Executive Summary
• Blockchain: Lay of the Land
• RadarView Overview
• Blockchain Services RadarView 2019
• Service Provider Profiles
3
About the Blockchain Services RadarViewTM 2019 Report
1Even though there was significant growth in the adoption of blockchain technology across industries over the last 12 months, it is still lower than expected. Most enterprises are already past the experimentation phase and are actively leveraging blockchain to build practical business applications.
2Avasant’s ongoing interactions with enterprise digital leaders indicate that while they see blockchain’s potential to reinvent their business processes, they need to identify mature service providers that can enable their blockchain journey and achieve true business value.
3The Blockchain Services RadarView 2019 Report addresses this need to understand the evolution of blockchain and to identify global service providers that best suit for their blockchain requirements and plans.
4Avasant evaluated 33 blockchain service providers through a rigorous methodology across key dimensions of practice maturity, investments and innovation, and ecosystem development to recognize the top 20 that brought the most value to the market over the last 12 months.
5The report also highlights the key market trends and Avasant’s view on the road ahead for enterprises leveraging blockchain over the next 12 to 18 months.
Executive Summary
5
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Avasant has recognized 20 top-tier providers supporting the
enterprise adoption of Blockchain ServicesLEADERS
IBM
NTT DATA
Wipro
Accenture
Infosys
TCS
INNOVATORS
CGI
HCL
Tech Mahindra
Capgemini
Cognizant
LTI
DISRUPTORS
DXC
Virtusa
Atos|Syntel
UST Global
CHALLENGERS
HexawareEPAM
Mphasis Zensar
6
Key enterprise blockchain trends shaping the market
Adoption doubled
in 2019; significant
growth in key use
cases
• The success in proof-of-value engagements has driven the enterprises to move to production-grade
implementations, resulting in doubling of adoption across industries compared to 2018. In the last 12 months, the number of production stage projects has increased by over 4.5 times.
• Use cases such as Digital Asset & Identity Management, Transaction Networks, and Supply Chain/Tracking had the highest growth, with 35% of them leveraging IoT and AI.
Government
sector emerges as
the highest growth
driver
• Governments have embraced the potential of blockchain to address different elements of citizen service delivery such as digital identity and records management, resulting in increase in blockchain adoption by 3.5 times and the highest success rate of 50% in moving from PoC to production.
• BFS continues to be the leader, accounting for 31% of the active blockchain projects. There is also significant growth in Manufacturing & Transportation & Logistics sectors as successful pilots go live.
Interoperability
conundrum top-of-
mind for tech and
service providers
• Lack of standardization and interoperability between leading blockchain platforms/networks increases the risk and costs for enterprises choosing one platform over another. This also impedes enterprises from working with partners on different platforms and limits the scalability of consortiums.
• Initiatives such as Cosmos and Polkadot have emerged to address this issue; however, most of them are still in the early stages of adoption. 60% of service providers are also working on solving this issue.
Lack of pre-agreed network
funding model is a
challenge
• Participants are not always able or willing to bear the network development and maintenance costs. This lack of agreement of cost ownership restricts network participation.
• Currently, there are 3 types of network funding models, one in which the enterprise bears all the costs, the second in which a sponsor pays the initial costs and then is compensated by the members as the network grows, and the third in which all members are charged based on agreed terms.
7
Enterprise blockchain adoption: The road ahead
Understand and
adhere to the
regulations that
affect blockchain
Engage with
consortiums to
solve industry-wide
issues
Identify
governance
model based on
network structure
Invest in R&D to
get ahead of the
curve
• In a significant shift from regulating crypto currencies, 30+ countries have enacted specific legislation and introduced regulatory sandboxes to encourage enterprise blockchain innovation. This has caused an influx of blockchain companies into these jurisdictions.
• However, there is a need to understand and adhere to the regulations that affect blockchain security, interoperability, anti-money laundering, illicit financing, cross-border payments, and consortiums.
• Enterprise blockchain requires players across the value chain to adopt the same platform. Consortiums bring together a diverse set of stakeholders such as enterprises, solution providers, regulators, and public sector organizations on the same network and can accelerate high-value use cases and scalability.
• Globally, 40+ active consortiums are leveraging blockchain with use cases such as KYC processes, loan clearing and settlement, trade energy, identify management, and asset track-and-trace.
• There are 3 prevalent models of blockchain network governance: centralized, open, and third party.
• When choosing the network members, a few issues need to be considered, such as ensuring that all stakeholder groups in the blockchain ecosystem are represented, determining intellectual property ownership, and raising and spending funds to support the blockchain project.
• Global enterprises have been boosting their blockchain innovation spend, as demonstrated by the increase in number of patents filed over last 12 months. These patents are primarily in the areas of data security, transfer, records, document validation and authentication, and payment processing.
• Service providers are also ramping up their spend, with 30% of planned investments going to building assets and solutions to enhance their blockchain service offerings.
Blockchain Market:
Lay of the Land
9
Increased success of PoC/pilot projects is driving more
projects towards production-grade implementations
Note: Analysis based on 900+ ongoing and completed blockchain client projects across proof of concept, pilot and production stages in 2019
Source: Avasant Blockchain Services RadarView Survey, May-June 2019
Over the last 12 months, greater visibility of business value in PoCs/pilots has driven adoption by nearly 2 times and
the number of production-grade implementations has jumped 4.6 times.
70%
24%
6%
53%
31%
16%30+
projects
140+
projects
4.6X
PoC Pilot Production
Change in blockchain adoption across all stages of projects over the last 12 months
Average share (2019)Average share (2018)
Change in total number of blockchain projects over the last 12 months
500+
projects
900+
projects
1.75X
March 2018 March 2019
10
Select use cases across different industries had greater
adoption and traction in the last 12 months
Note: Blue use cases indicate higher blockchain adoption in the last 12 months.
Source: Avasant analysis of 300+ use cases across industries
Banking• Asset certification
• Trade finance
• Cross-border payment
• Client onboarding
• KYC
• Syndicated loans
• Identity management
• Audit trail
Financial Services• Trade finance
• Securities issuance
• Derivatives settlement
• Dispute management
• Forex trade
• Fund processing
• Risk management
• Secure record keeping
• Identity management
Government and Non-Profit• Asset registration
• Asset tracking
• Digital land and vehicle
registry
• Digital identity
• Digital voting
• Food distribution
• Secure travel for
refugees
Healthcare and Life Sciences• Drug provenance
• Health records
• Organ registry
• Pharma track and trace
• Physician recertification
• Provider data
management
Retail and CPG• Distributed marketplace
• Food auditing
• Inventory control
• Loyalty programs
• Procurement
optimization
• Supply chain
traceability
Technology, Media and Telecom• Product provenance
• IP management
• Fraud detection
• Micropayments
• Media IP protection
• Loyalty programsInsurance• Claims management
• Reinsurance
• Contract authentication
• Customer data-sharing
• Insurance marketplace
• Insurance records
• KYC
• P2P Insurance
Manufacturing• 3D design records
• Anti-counterfeiting
• Digital provenance
• Preventive
maintenance
• Supply chain
management
• Warranty and payments
Utilities and Resources• Electricity grid
management
• Energy trading
• Shared equipment
• Green certification
• Produce logistics
• Wholesale energy
supply
Travel and Transportation• Cargo track and trace
• Damage tracking
• Preventive
maintenance
• Ticketing
• Customer data sharing
• Shipping
documentation
Blockchain
use cases
11
Amongst these, several use cases integrate blockchain with
other technologies
Note: Analysis based on 120 ongoing and completed blockchain client projects across proof-of-concept, pilot and production stages in 2019
Source: Avasant Blockchain Services RadarView survey May-June 2019; Avasant Research
Blockchain is most often integrated with Internet of Things (IoT), but it is being increasingly used with Artificial
Intelligence (AI) and Intelligent Automation (IA).
35%Of active projects are
leveraging blockchain
along with other
emerging
technologies
Use Case Company
Technologies
leveraged with
blockchain Description
IoT AI IA
Asset tracking
• Commonwealth Bank of Australia is helping its clients more
efficiently buy and manage assets such as farm equipment.
• Built an asset-sharing and management platform using IoT devices
connected to equipment. Also built a dynamic dashboard using
blockchain that not only presents the operational performance of
equipment but also is managed through smart contracts.
P2P energy
trading
• Developed TransActiveGrid, a P2P energy trade platform that is
now globally scalable. Installed computer-controlled energy
measurement systems (IoT enabled) in houses.
• The payments are initiated automatically by self-executed
contracts. Over 300 houses and SMEs have signed for next phase,
which aims to achieve fully automated transactions.
Supply chain
management
and food safety
• In early 2019, Golden State Foods, that makes over 400K
hamburgers per hour, developed a system to track the location
and temperature of its beef patties using IoT and blockchain.
• This system enables the restaurants to make sure they use a product
at the optimal window in its shelf life, thus optimizing food delivery
and decreasing operational costs.
Connected
vehicle
• In collaboration with a Berlin-based blockchain start-up, XAIN,
Porsche tested and developed a smart car application to lock and
unlock car’s doors using blockchain and ML.
• Further plans include recording traffic data over the blockchain,
getting mail packages successfully delivered inside the car’s trunk,
etc.
Sample use cases
12
BFSI remains the major adopter, but there is strong traction in
the government sector
.
Source: Avasant Blockchain Services RadarView Survey May-June 2019
Being an early blockchain adopter, BFS has a 31% share in active blockchain projects. However, the government
sector has increased its number of projects by 3.5 times.
Time since industry adoption started
1-2
Years
2-3
Years
3-4
Years
Sh
are
of
blo
ckc
ha
in c
lien
t p
roje
cts
Banking
Manufacturing
Financial
ServicesInsurance
Utilities
&
Resources
Retail
&
CPG
Telecom,
Media &
Entertainment
Government
Healthcare
&
Life
Sciences
Travel
&
TransportationHigh
Tech
20%
15%
10%
5%
Growth in blockchain projects over the last 12 months
Share of industries in active blockchain projects
40%37%23%3.5X
3X
3X
2.1X
2X
1.9X
1.8X
1.6X
1.5X
1.5X
1.4X
Government
Travel & Transportation
High Tech
Insurance
Telecom, Media & Entertainment
Healthcare & Life Sciences
Utilities & Resources
Financial Services
Manufacturing
Retail & CPG
Banking
13
This is reflected in higher success in conversion from pilots to
production-grade implementations in the public sector
Source: Avasant Blockchain Services RadarView Survey May-June 2019; Avasant Research
GovernmentUse case adopted
Case Study
Record Management
& Debt Services
• In Groningen, a government institution along with the Groningse Kredietbank (GKB) are helping residents in need of debt relief services.
• The city now stores financial status changes of GKB clients in a private blockchain, with invoices and income payment information of external partners.
Digital Identity & Record
Management
• Since 2012, blockchain has been used in Estonia for various e-services.
• These include the e-Health Record, e-Prescription database, e-Law and e-Court systems, e-Police data, e-Banking , e-Business Register and e-Land Registry.
Digital Certificates
• Malta has become the first country to use blockchain technology for developing academic credentials verifications across its academic institutions.
• The project started in Oct 2017 and is now scaled across all its academic institutions since Feb 2019.
Digital Identity
• The city of Zug in Switzerland is creating blockchain-based digital identities that can be used for government services such as e-voting.
• Citizens register their IDs through the uPort app. Post approval, these get publicly attested on the Ethereum blockchain.
Currently, the government sector has the highest conversion rate. Nearly half of its blockchain projects made the
transition from pilot to production in the last 12 months.
Success rate in conversion from PoC to production
Sample production-staged projects
City of Zug12%
14%
17%
22%
23%
23%
30%
34%
42%
43%
50%Government
Utilities & Resources
High Tech
Banking & Financial Services
Retail & CPG
Manufacturing
Healthcare & Life Sciences
Insurance
Non-Profits
Travel & Transportation
Telecom, Media & Entertainment
14
Meanwhile, enterprises have lower than expected adoption,
primarily due to interoperability challenges
Source: Avasant Blockchain Services RadarView Survey May-June 2019; Avasant Research
Blockchain platforms use different tech philosophies, and a lack of universally accepted standards has hindered
rapid adoption. However, enterprises are exploring solutions to address blockchain interoperability.
Characteristic Ethereum Hyperledger Fabric
Corda
Programming language
Solidity Go, Java Kotlin
Governance Distributed among participants
Linux Foundation and organization in the chain
R3 and organizations involved
Consensus Algorithm
Proof of Work (PoW)
Practical Byzantine Fault Tolerance (PBFT)
Notary nodes can run several consensus algorithms
Smart Contract Feature
Not legally bound
Not legally bound
Legally bound
93%Service providers have
faced questions
related to
interoperability from
enterprises.
Company Solution
Having close ties with R3, Ethereum, IBM and Hyperledger fabric, ING Bank is looking forward to
interoperability by applying zero-knowledge proofs to testing trade finance solutions.
Has signed a partnership agreement with Quant Network, a UK-based technology firm, to explore interoperability and to create cross-platform applications and services for banks. The first tests will be
executed on Corda and private Ethereum platforms.
Differences between leading blockchain platformsGlobal enterprises have started working on
interoperability solutions
15
To address the interoperability, tech providers are working on
various projects, however these are at an early stage
Source: Avasant Research
Project Name Start Date Project Type Description
Mar 2019 Cross-chain solution
Cosmos network, built on a set of modular tools, enables blockchains to
transfer value with each other through Inter-Blockchain Communication (IBC)
Platform.
Apr 2018 Cross-chain solution
Hyperledger Quilt offers interoperability between ledger systems by
implementing the Interledger protocol (ILP), a payments protocol designed
to transfer value across ledgers.
Nov 2017 Open protocolKomodo pioneered atomic swaps, P2P cryptocurrency trades from one user
to another. It is also working on creating cross-chain smart contracts solution.
Oct 2017 Cross-chain solution
Wanchain is a cross-chain platform that seeks to create a “distributed bank”
by providing a framework for financial applications based on digital assets
and cryptocurrencies.
Dec 2016 Cross-chain solution
Polkadot is allows blockchains to communicate and provides a pooled
security for each member of the network, regardless of the blockchain in
which they operate.
Dec 2016 Open protocol
Ark seeks to create bridge chains that can interact with any other
blockchain, and provides several tools for users to create their own custom
blockchains within minutes.
Majority of these projects are cross-chain solutions or open protocols that are currently bridging various public
blockchains.
Ongoing interoperability projects
16
Service providers are building assets and contributing to
ongoing interoperability projects
Source: Avasant Blockchain Services RadarView Survey May-June 2019; Avasant Research
60%Of service providers
have already
started working on
addressing
interoperability
Initiatives Highlights Service Providers Description
Proprietary
assets and
platform
Building own assets and
platforms to enable
interoperability across blockchain networks such as
Corda, Hyperledger, Quorum and Digital Asset
In Oct 2018, Accenture has developed and tested 2 solutions that enable Digital Asset, R3 Corda, Hyperledger Fabric and Quorum to integrate securely and orchestrate business processes.
Cognizant has built interoperability and multiple blockchain frameworks that provide an integration layer to connect 2 different blockchains using interoperability techniques.
The IBM Blockchain Platform, an open and flexible platform built for a multi-cloud environment, is interoperable. IBM is also proactively working on projects across multiple platforms, such as Hyperledger and Corda.
Wipro has implemented interoperability between Hyperledger Fabric and Quorum by setting up interoperability nodes that ensure fast and secure interaction via local SDK calls.
Contributing to
Interoperability
projects
Providing both technical
capabilities and funding to the
ongoing interoperability
initiatives
LTI has recently partnered with the Orbs Blockchain platform that has developed the ability to pass tokens between different blockchain networks. This enables them to build robust solutions around interoperability.
NTT Data is the founder and contributor to the Hyperledger Quilt project, a business blockchain tool that offers interoperability between ledger systems by implementing the interledger protocol (ILP).
Majority of service providers can be leveraged by enterprises to tackle the interoperability issue.
Sample initiatives by Service Providers
17
Majority of regulations across countries are crypto-specific
and do not impede enterprise blockchain adoption
Note: The countries represented are at the leading or enabling stage of blockchain regulatory maturity, as assessed by the Avasant Blockchain
Regulatory Framework.
Source: Avasant analysis of blockchain regulations from a representative list of 120 countries, as of December 2018
UAE
A pioneer in blockchain
adoption in the public sector,
UAE has an enabling
regulatory stance; legal
treatment varies broadly on
where the entities are located.
South Korea
Revised its initial hostile
regulatory stance towards ICOs
and VCs; ban on ICOs has been
lifted and recognizes VCs as a
form of legal remittance.
Singapore
Considered the Asian
blockchain hub, it has developed
a business- and investor-friendly
regulatory approach towards
blockchain.
Australia
Regulatory approach that
places more emphasis on
technology development and
less regulatory interventionism;
has one of the most extensive
cryptocurrency tax regimes in the
world.
Canada
Well-defined regulatory
guidance around VCs, ICOs,
taxation, AML rules, etc.
Malta
Known as the
Blockchain Island, Malta has
passed 3 new legislations to
actively foster innovation and
adoption of blockchain in the
country.
Hong Kong
Fast emerging as a
destination of choice
for blockchain investors.
UK
Favorable regulatory
attitude towards VCs and
blockchains, notably the
presence of regulatory
sandbox.
Switzerland
One of the most business-
friendly blockchain regulatory
regimes in the world; detailed
regulatory guidance around
ICOs, VCs/ digital tokens, and
taxation of VCs.
US
Different states and entities
within the US have different
regulatory positions. SEC, for
example, classifies most tokens
and virtual currencies as
securities. The IRS classifies
cryptocurrencies as property for
tax purposes.
In fact, there are several blockchain-progressive countries that are enacting favorable laws.
18
A growing number of jurisdictions are offering regulatory
sandboxes to encourage fintech/blockchain innovation
Source: Avasant analysis of Blockchain regulations from a representative list of 120 countries across the world, as of December 2018; Avasant
Research
30+Countries have a
fintech/blockchain regulatory
sandbox that enables start-
ups/technology providers to
test their products and
services with a limited
number of real consumers for
a trial period without being
subject to normal
regulations.
These sandboxes allow start-ups to test blockchain products in a safe and regulated environment.
Sample list of start-ups that have joined a blockchain regulatory sandbox
CompanyRegulatory
SandboxCountry Description
Financial
Conduct
Authority (FCA)
Onfido, a leading document ID verification
company, has joined a cross-border regulatory
sandbox run by the Global Financial Innovation
Network (GFIN) in early 2019.
Monetary
Authority of
Singapore
(MAS)
ICHX Tech, a blockchain-based infrastructure
company incubated by ICH Group, has joined the
regulatory sandbox in May 2019 to get licensed by
MAS as a recognized market operator.
Financial
Conduct
Authority (FCA)
Diro Labs, a start-up that uses a “central blockchain-
based store of information” to verify identities and
documents, has joined the regulatory sandbox in
April 2019.
Saudi Arabian
Monetary
Authority
(SAMA)
In June 2019, Raqamyah Blockchain start-up, a peer-
to-peer lending platform, joined the Saudi Arabian
Monetary Authority (SAMA) regulatory sandbox.
Economic
Development
Board (EBD)
PIRL, a blockchain technology company whose
business activity is the R&D of viable products for
day-to-day use, joined the Mauritius EBD sandbox in
Aug 2019.
19
Lack of pre-agreed cost ownership model impedes
blockchain implementation
Source: Industry interviews and an analysis of 50+ ongoing blockchain projects
There are 3 types of network funding models that are considered whenever a blockchain solution is created and
goes to production:
Party C
Party A
Party DEnterprise Party B
Party C
Party A
Party DSponsor Party B
Party C
Party AParty D
Enterprise
Party B
The enterprise bears all the costs. A sponsor bears the initial cost of getting
the blockchain network up and running.
Once the network grows, the sponsor is
compensated by the additional members.
The cost is apportioned to different
stakeholders based on agreed terms, e.g.,
depending on the benefits or transactions
done on the network.
Types of funding models
Dark blue icons represent the parties that pay in the
network
Dark grey icons represent the parties that do not pay
in the network
20
Enterprises need to identify the governance model based on
the blockchain network structure
Source: Industry interviews and an analysis of 50+ ongoing blockchain projects
Governance of blockchain networks is crucial with three models being more prevalent.
The creator of the
blockchain solution
has the final
authority on all
network decisions.
Central
member
M2M1
M4M3
Centralized
Governance
M2M1
M4M3
The governing body
is chosen by the
blockchain users
within the existing
members.
Open
Governance
M2M1
M4M3
Third-
Party
A separate legal
separate entity,
governmental
agency, or any
other form is
selected by partners
in the consortium.
Third-party
Governance
Green color represents the governing parties Orange color represent the parties other than the governing parties
21
Enterprises also need to engage with consortiums to develop
solutions for shared ecosystem and business challenges
Source: Avasant scan of Industry Consortiums as of July 2019
Industry Focus Areas Sample Consortiums Sample Members
BFSI
• KYC onboarding• Anti-money laundering• Syndication of loans• Trade finance• Asset registry
Energy• Energy trading• Smart grid Management
Legal• Data integrity, authentication, security and privacy
for contracts and documents• Interoperability between corporate law firms
Logistics & Transportation
• Cargo tracking• Shipping documentation• Development of standards• IoT
Public & Private Sector• Blockchain learning• Regulation advisory• Post-trade distributed ledger
Sample Consortiums
Various consortiums are active across verticals (logistics, transportation, BFSI, legal and energy) with focus on
multiple use cases (KYC, AML, asset track-and-trace, identity authentication, etc.).
22
Industry bodies are also emerging as catalysts for blockchain
adoption
Source: Avasant Research
Spunta project is the Italian banking sector’s first move to integrate blockchain in interbank processes to accelerate
payments.
ABI is the trade association of Italian banks
created in 1919. Its purpose is to represent,
look after and promote the interests of its
member banks and financial
intermediaries. Specifically, ABI undertakes
initiatives for the orderly, stable and
efficient growth of the banking and
financial system, in a competitive outlook
consistent with Italian and European Union
law.
Italian Bank
Association (ABI)
Phase 3Dec 2018-
Present
Pre-production phase
Phase 4Expected by
March 2020
Production
Phase 1Sept 2017-
Dec 2017
Use case
analysis and platform selection
Interbank process
to see all the
information about
balance status,
movements, etc.,
was chosen the
ideal. Corda
platform was
selected.
Phase 2Jan 2018-
Oct 2018
Proof-of-concept
18 banks
successfully
completed a10-
month long PoC in
October 2018 by
processing a total
of 1.9 MN
transactions.
Now scaling to a
more advanced
test phase with 200
banks.
Plan to migrate the
entire banking
sector’s system on
blockchain by
March 2020
23
Enterprises are investing in core blockchain technology
areas and are filing for patents
Source: Avasant Blockchain Services RadarView survey May-June 2019; Avasant Research
0
80
60
40
20
100
Number of patent applications by enterprises
Nu
mb
er
of
pa
ten
t a
pp
lica
tio
ns
Most of the patents are filed in the following areas:
They are innovating blockchain in the areas of data security, transfer, records, document validation and payment
processing.
I. Data security
II. Data transfer
III. Document validation and
authentication
IV. Data records
V. Payment processing
24
The providers are likewise ramping up in this space with
notable investments in building assets and filing of patents
Source: Avasant Blockchain Services RadarView survey May-June 2019
Providers, on average, plan to invest 30% of their blockchain budget in building more assets and solutions that can
be leveraged by enterprises in their blockchain adoption journey.
Service
Provider
Number of
patents filed
Patent Description
80+
• Document authentication and
management
• Data sharing & consistency
• Security & Speed
• Identification of parties
• Blockchain-based web browser
• Blockchain interoperability
• Smart contract-enabled energy
marketplace
• Validation and distribution of antivirus
signatures
• Rewritable (hybrid) blockchains
5+
15+
• Logistics & Travel, Manufacturing and
Financial Services
• Peer-To-Peer Validated Transactions
• Certificate tracking
• Collateral management
• Blockchain-enabled 3D printing
5+• Evaluation of use cases
• Controller for enterprise deployment
acceleration
Patent filed by service providers
30%
28%
18%
6%18%
Asset
development(e.g. new offerings,
patent filings,IP, solution
accelerators, and industry-specific assets
development, prototypes, etc.)
Human capital
development(e.g., certifications and
trainings, creative hiring and upskilling of resources, etc.)
GTM
enablement(e.g., new channels development, new
marketing initiatives, product roadmap,
pricing strategy, geo expansion)Inorganic
expansion(e.g., acquisitions,
strategic investments)
Leveraging
ecosystem(e.g., increasing number
and depth of partnerships,
crowdsourcing through hackathons, CoEs, joint
labs, etc.)
Share of planned investments in next 12 months
RadarView Overview
26
Blockchain Services RadarView assesses service providers
across 3 critical dimensions:
Practice Maturity
• This dimension considers the current state of the provider’s blockchain practice in terms of its strategic importance for the provider, the maturity of their offerings and capabilities, and client engagement.
• The nature and sophistication of solutions, use cases being addressed, market acceptance, quality of talent, and execution capability are all important factors that contribute to this dimension.
Investments and
Innovation
• This dimension assesses the investment approach and innovation focus of the provider, and how it aligns with the future direction of the industry.
• The overall strategic investments, both organic and inorganic ones, towards capability and offering growth, technology development and human capital development, along with the innovations that the provider develops with their partners are critical aspects of this dimension.
Ecosystem
Development
• This dimension focuses on the provider’s initiatives towards market creation and development, knowledge development and collaboration with industry stakeholders.
• This includes the level and nature of engagement with the stakeholder and start-up ecosystem, thought leadership initiatives such as industry-guiding white papers and points-of-view, and contributions to industry associations and events
27
Research methodology and coverage
Note: Assessments for Accenture, Atos|Syntel, Capgemini, DXC, EPAM, Hexaware, and TCS have been conducted based on public disclosures
and market interactions only
Avasant based its analysis on a number of sources:
Publicly available information such as SEC filings, annual reports, quarterly earnings calls, executive interviews and statements.
Public
disclosures
Discussions with enterprise executives leading digital initiatives and influencing service provider selection and engagement.
Market
interactions
Inputs collected through an online questionnaire and structured briefings in May-June 2019.
Provider
inputs
Of the 33 service providers assessed, the final 20 featured
in RadarView for 2019 are:
Blockchain Services RadarView 2019
29
Reading the RadarView
Avasant has recognized service providers in 4 classifications:
Leaders show consistent excellence across all the key dimensions of the RadarView assessment (practice maturity, investments and
innovation, and ecosystem development) and have had a superior impact on the market as a whole. These providers have shown
true creativity and innovation and have established trends and best practices for the industry. These providers have proven their
commitment to the industry and are recognized as thought leaders that set the standard for the rest of the industry to follow. Leaders
display a superior quality of execution and a reliable depth and breadth across verticals.
Innovators show a penchant for reinventing concepts and avenues, changing the very nature of how things are done from the
ground up. Unlike the Leaders, Innovators have chosen to dominate a few select areas or industries and distinguish themselves on
the basis of superior innovation. These radicals are always hungry to create pioneering advancements in the industry and are
actively sought-after as trailblazers redefining the rules of the game.
Disruptors enjoy inverting established norms and developing novel approaches that invigorate the industry. These providers choose
to have a razor-sharp focus on a few specific areas, and address those at a high level of granularity and commitment that results in
tectonic shifts. While Disruptors might not have the consistent depth and breadth across many verticals like the Leaders or the
innovation capabilities of the Innovators, they exhibit superior capabilities in their areas of focus.
Challengers strive to break the mold and develop groundbreaking techniques, technologies and methodologies on their way to
establishing their unique position. While they may not have the scale of the providers in other categories, Challengers are eager and
nimble, and use their high speed of execution to great effect as they scale heights in the industry. Challengers have a track record
of delivering quality projects for their most demanding Global 2000 clients. In select areas and industries, Challengers might very well
have capabilities that match or exceed those of the providers in other categories.
30
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Blockchain Services RadarViewTM 2019
LEADERS
IBM
NTT DATA
Wipro
Accenture
Infosys
TCS
INNOVATORS
CGI
HCL
Tech Mahindra
Capgemini
Cognizant
LTI
DISRUPTORS
DXC
Virtusa
Atos|Syntel
UST Global
CHALLENGERS
HexawareEPAM
Mphasis Zensar
Service Provider Profiles
32
Industry Coverage
Darker color indicates higher industry concentration
Accenture : RadarView Profile
6,800+ 100+
Technology patents
Innovation Centers
Industry-specific
blockchain solutions.
Assets focused on
technical aspects of
blockchain. Strong
partnership ecosystem.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Collaborated with Mastercard and Mercy Corps in Feb 2019 to build a blockchain-based
solution that allows consumers to identify individual producers who use sustainable methods
and financially reward them with a direct payment.
• Worked with AB InBev, APL, and Kuehne + Nagel to build a blockchain solution that enables
multiple stakeholders to confidently and securely access shipment transaction data. It
involves handling the entire documentation process, from initial booking to the drafting and
creation of the bill of lading and customs manifest.
• Converted the process of managing surety bonds that was done over the phone or email to
online by integrating the blockchain-based system with Zurich Benelux’s existing surety
management back-end. The solution includes an easy-to-use dashboard that enables
customers to quickly check the status of their bonds, get detailed bond history records, fulfill
new bond requests, and view bond forecasts.
• Practice Size: N/A
• Active Clients: N/A
• Certified/Trained Resources:
N/A
• Delivery Highlights: Blockchain
solutions for security and
interoperability
Sample ClientsPartnershipsKey IP and Assets
• Blockchain Security - A solution
to integrate blockchain with the
hardware security modules
(HSMs)
• Blockchain Interoperability - A
solution focused on blockchain
interoperability between Digital
Asset, R3 Corda, Hyperledger
Fabric and Quorum
• Biometric Identity Management
System - An Ethereum-based
prototype for identity
management
• Mastercard
• Mercy Corps
• Kuehne + Nagel
• American President Lines
• Anheuser-Busch InBev
• Zurich Insurance Group
• Thales Group
• ABN Amro
• An APAC-based oil and gas
major
Platform Provider
Industry Consortium
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
33
Analyst Insights
• Accenture has taken a holistic approach when addressing the needs of its clients' blockchain journey. It has brought together global resources from
the company's consulting, strategy, digital, technology, and operations services into its blockchain practice, which covers several sectors, including
finance, supply chain, and insurance.
• Over the last 12 months, its projects started to move from PoC to large-scale production. In July 2018, Accenture's Indian technology center was
successful in leveraging blockchain for 2 oil and gas majors in North America to enable peer-to-peer EV charging at any participating home.
• It has primarily developed solutions with its partners in leading technology enterprises (IBM, AWS, Microsoft) and platform providers (Ethereum, Digital
Asset, and Hyperledger) by co-innovating with them in its labs. For instance, in early 2019, it announced its partnership with Mastercard, AWS,
Everledger, and Mercy Corps to build its blockchain-based supply chain capability. Currently, it is piloting a blockchain solution for supply chain
management and authentication of parts in collaboration with Thales group for the aerospace industry.
Practice Maturity
Investments & Innovation
Ecosystem Development
Accenture : RadarView Profile
• Accenture puts a lot of focus on building assets in The Dock, its research and incubation hub in Ireland. These assets focus on technical aspects of
blockchain, such as security, interoperability, and identity. It has filed 2 patents around blockchain interoperability between Digital Asset, Corda,
Hyperledger Fabric, and Quorum. For security, it has built a solution with hardware security modules (HSMs).
• It has built industry-specific labs and studios, such as a Digital Studio for government IT modernization that integrates emerging technologies, including
blockchain. It also utilizes inorganic means to strengthen its industry-specific blockchain capabilities. In July 2019, it acquired Bridge Energy Group, a
Boston-based consulting and systems integration firm to deliver blockchain solutions to its utility clients.
• Accenture leverages consortiums and alliances to develop blockchain solutions to address societal and industry challenges. One such collaboration is
with the UN and other global humanitarian organizations to use blockchain and biometrics for identity management.
• It is very active in disseminating the results of its research in blockchain through blog posts, white papers, trend reports, and articles. Some of this
research is done with its enterprise clients. For instance, DHL and Accenture collaborated on a trend report on blockchain's technology potential to
transform the logistics industry.
34
Industry Coverage
Darker color indicates higher industry concentration
Atos|Syntel : RadarView Profile
5,000+ 9
technology patents
Customer Innovation
Centers
Develops technical
solutions in
collaboration with
technical and research
institutes. Engaged
thought leadership.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Collaborated with South Korea's Institute for Information and Communications Technology
Promotion to develop a blockchain-based framework for a cross-border ecosystem. The
resources from different providers can be orchestrated in merged multi-cloud environments.
The solution aims to strengthen the position of Europe and South Korea in cross-border
cooperation and the search for new opportunities on the market.
• Built a blockchain-based smart contract solution for a logistics major between retailer and its
distribution partners. The shipment transactions are stored on the distributed ledger enabling
a single source of truth for real-time tracking. This created an implicit trust between
participants, reducing the cost of control measures.
• Implemented a blockchain identity management platform for Bank Aljazira, which is based
in Saudi Arabia, to increase the security around customers’ personal information and avoid
fraud, thus launching the first-of-its-kind use case in the region.
• Practice Size: N/A
• Active Clients: N/A
• Certified/Trained Resources:
N/A
• Delivery Highlights: Presence in
70+ countries
Sample ClientsPartnershipsKey IP and Assets
• MoBio - A tool to facilitate
communications between
functional and technical
stakeholders
• Institute for Information and
Communications Technology
Promotion
• Bank Aljazira
• A logistics major
Platform Provider
Startup
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
35
Analyst Insights
• Atos|Syntel delivers end-to-end blockchain services in a standardized approach through its Atos Blockchain factory. It leverages pre-built domain use
cases to rapidly develop blockchain PoCs for its clients.
• To showcase its capabilities on private blockchain platforms, it has developed a data privacy and governance layer on Hyperledger. It has also
demonstrated an interest in public blockchain platforms. It was involved in PRO BTP, a French social protection group, to implement an Ethereum-
based PoC for the secure repository and traceability of document deposit.
• It works mostly with its partners, including start-ups, to address blockchain security and identity. For instance, it worked with ShoCard, the US-based
blockchain-identity verification company to implement a blockchain identity management platform for Bank Aljazira in Saudi Arabia.
Practice Maturity
Investments & Innovation
Ecosystem Development
Atos|Syntel : RadarView Profile
• Worldline, Atos' subsidiary in payments and transaction services, has focused on blockchain technology since its launch. In 2015 and 2016, Worldline
developed demos using blockchain to manage financial assets such as company bonds or lists of lost or stolen cards. One of its PoCs is point-of-sale
(POS) Terminal Hotlists to improve fraud detection on payment terminals.
• Atos|Syntel actively collaborates with technology and research institutes to work on various blockchain initiatives. Currently, it is working with the IRT
SystemX Technology Research Institute to explore blockchain opportunities for several verticals, including the automotive market. It is also working with
ACTA, the French network of the agricultural technical institutes to explore the potential of blockchain in agriculture.
• Atos|Syntel conducts and sponsors blockchain events and competitions. In 2017, the Atos IT Challenge theme was blockchain and witnessed 77 teams
from around the world compete in this area. It also sponsored the Land of African Business (LAB), a major event in Abidjan dedicated to exploring the
blockchain potential in African financial and transactional services to accelerate social and economic growth.
• It has published various resources in the form of blogs, white papers, and PoVs that highlight blockchain integration with other technologies, blockchain
security, blockchain in each domain, etc. One of its opinion papers is focused on the digital vision for farming that covers blockchain potential in food
standards and traceability.
36
Industry Coverage
Darker color indicates higher industry concentration
Capgemini : RadarView Profile
20-25% 1,000+
Digital revenue growth
A blockchain training
workshops
Strong BFSI focus. A
strong consulting
relationship with clients.
Active thought
leadership.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Worked with Ahold Delhaize and its logistics partners to move its supply chain on blockchain
and shorten the turnaround time for a single transport. Linked a mobile app to the
blockchain and minimized the paperwork in the process.
• Implemented a Corda-based platform for an industry consortium of the insurance market of
Italy for the distribution and synchronization of risk data in a safe, transparent, and efficient
way. The solution provides for the management and optimization of negotiation and
quotation times. It also enhances the information quality through blockchain.
• Developed a blockchain-based solution called Whiteflag with the Dutch Ministry of Defence
that provides parties in conflict and disaster zones to digitally communicate predefined signs
and signals using blockchain technology, thus creating situational awareness beyond
conflicts. The first test ran in Nov 2018 with 25 participants of different government/non-
government organizations.
• Practice Size: 200+
• Active Clients: N/A
• Certified/Trained Resources:
N/A
• Delivery Highlights: A global
network composed of 16
innovation labs
Sample ClientsPartnershipsKey IP and Assets
• Whiteflag - A protocol to create
a trusted environment for all
stakeholders of a conflict
• Blockchain evaluation
framework - A framework to
understand the applicability of
blockchain solution
• Albert Heijn
• AIG
• Generali Insurance
• The Dutch Ministry of Defence
Platform Provider
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
37
Analyst Insights
• Capgemini has a dedicated independent global practice for blockchain within its financial services line through which it provides blockchain offerings
ranging from consulting to technology services.
• Leveraging its robust partnership ecosystem, it was heavily involved in the projects that require the advanced understanding of the technology and in
building the business scenarios and use cases across multiple industries. In 2017, Capgemini collaborated with Schneider Electric to create a PoC for
using DLT in the supply chain. Other projects involved KYC solution, efficacy-based payments using Ethereum, vehicle ownership, and transfer tracking.
• Its consulting services are strengthened by its blockchain evaluation framework that evaluates the applicability of a blockchain solution. In addition, its
Capgemini Applied Innovation Exchange lets its clients co-innovate and test blockchain solutions in a controlled environment before piloting and
deploying them.
Practice Maturity
Investments & Innovation
Ecosystem Development
Capgemini : RadarView Profile
• Capgemini is exploring applied blockchain technologies through the CoEs in its innovation labs across the globe. In early 2019, it has launched a new
global Blockchain Center of Excellence in partnership with Swinburne University of Technology to support and innovate blockchain solutions for industry.
• It is exploring and adding complementary technology capabilities in its solutions. It is currently working with IBM at its Watson IoT Center to create a
smart container management system based on blockchain and IoT.
• Capgemini has exhibited thought leadership in the forms of blog posts, PoVs, and white papers. Capgemini Research Institute, its in-house research
center is quite active in doing surveys and analyses around emerging technologies, including blockchain.
• To promote higher education and research in blockchain technology, it launched a “Blockchain and B2B Platforms” Chair with École Polytechnique
and the École Polytechnique Foundation in April 2019.
38
Industry Coverage
Darker color indicates higher industry concentration
CGI : RadarView Profile
50-75% 140%+Blockchain
services growth
Active clients growth
Strong focus on IP development. High
growth in client engagements.
Blockchain solutions focused around trade
finance and US Federal.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• For a city in the Netherlands city, developing an application that stores financial status
changes of credit bank customers, external party's invoices, and payment data in a
blockchain. It helps provide financial situation insights into 20% of Dutch households.
• Building a PoC for a major European port area to increase the efficiency in the overhauling
of containers from shipping lines to other transportation services, taking into account credit
agreements and other trade finance constraints.
• Is working with the largest energy producer and supplier in Netherland to facilitate
administrative processes using blockchain technology. The application will serve 50,000
households and will cut overhead costs by 50%.
• Developed a PoC that integrated Trade360, CGI's trade finance platform, and a blockchain-
based platform to enable banks engaged in trade finance to increase productivity and
reduce costs.
• Practice Size: 250+
• Active Clients: 90+
• Certified/Trained Resources: 20+
• Delivery Highlights: 11
Innovation centers and labs
across the globe
Sample ClientsPartnershipsKey IP and Assets
• Trade360 - A trade finance tool
• Boxchain - Blockchain IP for
GDPR-compliant usage
• Data360 - A GDPR-compliant
product to share data
• Cyber security Training - A 2-day
blockchain security training
template
• One of Europe's largest ports
• A city in the northern
Netherlands
• One of the largest energy
producers and suppliers
• The executive branch of
Flemmish region of Belgium
• The US federal government
• A Canadian multinational
investment bank
Platform Provider
Startup
Industry Consortium
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
39
Analyst Insights
• CGI started its blockchain practice in 2015 and identified blockchain as one of the key technologies in its global emerging technologies portfolio. It has
experienced massive growth since last year in targeted industries of BFSI, healthcare, utilities, and the public sector.
• Since 2016-17, it has been aggressively involved in educating about blockchain by conducting a set of blockchain programs. Now, in addition to the
blockchain education, it is engaged in full-service partnerships with its enterprise clients.
• With a platform and technology-agnostic approach, it has a strong portfolio of IPs and assets. With its trade finance platform, Trade360, it has been a
successful trade finance technology partner for various banks, including Bank of Montreal, Royal Bank of Canada, and Mitsubishi UFJ Financial Group.
• It has emphasized expanding its blockchain ecosystem through various partnerships that not only involve start-ups such as CyberStratus and NuBorders,
but also platform providers such as Ripple and Corda.
Practice Maturity
Investments & Innovation
Ecosystem Development
CGI : RadarView Profile
• CGI has established 11 innovation centers and labs around the globe and continues to invest strategically in developing and delivering IPs. With the
advent of GDPR, it has built 2 GDPR-compliant IPs: Boxchain and Data360. In addition to asset development, half of its planned investments is allotted
for human capital development. It has collaborated with educational institutions, labs, non-profit organizations, and partner companies such as R3,
Ripple, DAH, etc., to hire talent.
• It is actively looking for inorganic investment opportunities under its "Build and Buy" strategy. Blockchain capabilities are one of the many evaluation
factors in its global M&A targeting process.
• Embracing the blockchain, CGI has a lot of thought leadership content on its website in the form of blog posts and white papers focused on trade
finance, blockchain storage requirements, blockchain energy consumption, and government blockchain.
• It continues to collaborate with different platform providers and banks to build trade finance applications. In 2017, it created a PoC by integrating its
trade finance platform Trade 360 with Skuchain, a blockchain platform to enable 19 banks to provide trade finance services. It has also collaborated
with R3 and 13 global banks to build a trade finance application on the Corda platform.
40
Industry Coverage
Darker color indicates higher industry concentration
Cognizant : RadarView Profile
25+ 65%+
Blockchain frameworks
Active clients growth
Large suite of pre-built
blockchain solution
accelerators.
Expanding partnership
ecosystem. Strong in
BFSI and Healthcare.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• For one of the largest global insurance providers, developed an automated insurance
solution using blockchain technology to offer pregnant women financial protection in case
of gestational diabetes, without ever needing to file any claim.
• Collaborated with a consortium of Indian life insurers to build a blockchain solution on Corda
to facilitate cross-company data-sharing. This helped insurers reduce their reliance on data
intermediaries and aggregators in obtaining customer and policy details.
• Built a DLT-based solution for a Japanese financial firm for cross-border document-sharing
and a custom digital currency. The information-sharing among bank subsidiaries resulted in
cost savings while the digital currency eliminated the need for data reconciliation.
• Helped a credit card brand issued primarily in the US leverage alternate payment rails for
cross-border payments and leverage the DLT framework for an automated award and
recognition system.
• Practice Size: 390+
• Active Clients: 45+
• Certified/Trained Resources: 40+
• Delivery Highlights: Cognizant
Accelerator, a global
innovation center
Sample ClientsPartnershipsKey IP and Assets
• Post-trade Clearing and
Settlement- - Solution for asset
transfer between parties
• Collateral Management -
Solution accelerator to simplify
collateral management process
• Document Signing and
Verification - To digitally sign
and verify the document
• Multi Sig Asset Transfer - For title
deeds transfers through multi-
signature contracts
• One of the largest global
insurance providers
• A US real estate services and
investment firm
• One of the largest financial
services multinationals
• A leading payment solution
provider
• The world's largest logistics
company
• A UK-based pharmaceutical
company
Platform Provider
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
41
Analyst Insights
• Cognizant has established its blockchain practice under its BFSI vertical at the end of 2015 and has been pragmatic about the evolution of the
blockchain market. It has a centralized blockchain team delivering across all industries.
• It leverages its broad portfolio of pre-built blockchain solution accelerators and its global technology center known as Cognizant Accelerator, which
helps in the company's development of new technologies and digital capabilities to build blockchain applications for its clients.
• It has built deep partnerships and strategic alliances for evaluating and testing beta products, providing feedback for product enhancement and joint
go-to-market. It collaborated with Chain.com to develop use cases around digital cash and loyalty programs. It also co-developed the CordaInsure
platform with R3 to reduce insurance fraud cases.
• Though it is traditionally strong in the BFSI vertical, it is expanding to other industries by developing use cases and PoCs. It has collaborated with
Synaptic Alliance to explore how blockchain can address current healthcare issues.
Practice Maturity
Investments & Innovation
Ecosystem Development
Cognizant : RadarView Profile
• Cognizant has significantly invested in expanding its base of solution accelerators and IPs and continues to strengthen this portfolio either by building in-
house or through minority investments in emerging start-ups. Such minority investments are targeted to quickly tap into innovation opportunities in the
market. Its Cognizant Accelerator is staffed by experienced start-ups and corporate folks and has developed products and platforms.
• It has focused on capability building and augmentation through its core CoE and organic growth by internal cross-skilling. It has leveraged its
partnership network for employee enablement and training.
• Cognizant has been active in developing informative content around blockchain through white papers, podcasts, and research studies. One of its
initiatives is the blockchain adoption study in 2017 that surveyed 3,000 senior executives across the US, Europe, Canada, and APAC for their
perspectives on the blockchain.
• It has been an active member of financially focused consortia such as the Chamber of Digital Commerce and Open Standards Consortium for Real
Estate (OSCRE). It is an executive member of the Chamber of Digital Commerce in 2016 and has been actively contributing to policy efforts to help
shape the market of blockchain. In April 2018, it became a member of the Ethereum Enterprise Alliance (EEA).
42
Industry Coverage
Darker color indicates higher industry concentration
DXC : RadarView Profile
20+ 55+
PoCs delivereddelivery
locations
Framework-based
approach to
blockchain pilots. Wide
range of PoCs. Luxoft’s
acquisition to
strengthen its
blockchain offerings.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Developed a blockchain-based solution for an Australian multinational bank to give its
customers their own digital identity they can control. The solution has resulted in sharing,
creating, and validating documents across organizational boundaries.
• Connected the legacy system of a major healthcare provider in the US using a private
blockchain to share and update real-time accumulators in a secure, reliable, and auditable
way. To automate the deployment of the blockchain network, it built a Hyperledger Fabric
network inside of AWS using some AWS tools and services.
• Created a P2P blockchain solution using R3 Corda and AWS for a leading global hotel
reservation company to allow private, secure and user-friendly hotel-to-corporation
communication. The system significantly increases transparency for all participants, efficiently
manages business transactions in an untrusted environment.
• Practice Size: N/A
• Active Clients: N/A
• Certified/Trained Resources:
N/A
• Delivery Highlights: Presence in
70 countries across the globe
Sample ClientsPartnershipsKey IP and Assets
• Chain of Custody (CoC)-
TrackeR - A framework for asset
tracking in supply chain
• SSI Integration - Decentralized
identity and access control
blockchain security framework
• XI-DApper - A reusable
component to deploy Dapps
quickly
• Blockchain Bridge - An
accelerator to develop pilots
with other technologies
• An Australian multinational bank
• A leading global hotel
reservation company
• A major healthcare
organization in the US
Platform Provider
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
43
Analyst Insights
• DXC's global blockchain practice focuses primarily on facilitating blockchain adoption strategy and rapid prototyping for its clients across banking,
financial services, insurance, retail, and healthcare.
• Its recent acquisition of Luxoft (June 2019) brings together 2 blockchain teams, leverages Luxoft's offerings in financial and engineering services, and
expands its footprint in Europe.
• It has taken a framework-based approach to blockchain pilots, which involved consent management, self-sovereign identity, supply chain tracking,
etc. It has demos and other blockchain initiatives, some of which are accessible through its portal.
• In addition to in-house development, it has leveraged its partner network with blockchain platform providers to develop solutions. It has built expertise
in working on Corda, Ethereum, Hyperledger, and Quorum. Various cross-industry applications such as trade settlement platforms are built on these
platforms.
Practice Maturity
Investments & Innovation
Ecosystem Development
DXC : RadarView Profile
• DXC’s recent USD 2B acquisition of Luxoft strengthens its portfolio of digital offerings in essential technology areas including analytics, IoT, and
blockchain. Luxoft is a consulting and software development firm that has an already established digital delivery footprint with a workforce of 13,000
professionals.
• It continues to establish labs and innovation centers to develop blockchain prototypes and solutions and to expand its network across different
geographies. In October 2018, it opened an innovation lab in Singapore to co-create blockchain prototypes and solutions with customers and partners
across Asia. In June 2019, it inaugurated its innovation center in London to extend its digital network in the UK.
• DXC is actively engaged in promoting blockchain technology by organizing, sponsoring, and participating in key blockchain events and conferences.
For instance, one of the speakers at BlockWalks 2019 Public Conference is the blockchain expert from DXC. There is also a panel discussion on how
blockchain technology will drive the future.
• It has disseminated its views, insights, research, and opinions in the form of blog posts and articles that address the security challenges in blockchain, its
disruption across industries such as healthcare and insurance, etc. In February 2017, it also surveyed a total of 100 specialists and executives from
German banks with a market research institute for the study "Blockchain: Evolution or Revolution?"
44
Industry Coverage
Darker color indicates higher industry concentration
EPAM : RadarView Profile
650+ 20%+
technology professionals
YoY organic revenue growth
In-house blockchain
solutions primarily on
Ethereum. Wide
breadth of blockchain
use cases.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Developed a Java-based enterprise application for a London-based global leader in
information, analytics, and solutions for major industries and markets. The application uses
blockchain as a storage and communication layer with business logic execution on smart
contracts.
• Practice Size: N/A
• Active Clients: 0
• Certified/Trained Resources:
N/A
• Delivery Highlights: Presence in
over 25 countries
Sample ClientsPartnershipsKey IP and Assets
• Digital Assets Management
Platform - An Ethereum-based
platform for asset management
• Digital Notary Services - An NXT-
based notary solution
• An oilfield services company
• A London-based global leader
in information, analytics and
solutions
• One of the top 5 major oil and
gas companies
Platform Provider
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
45
Analyst Insights
• EPAM is one of the few global software engineering firms that focus on blockchain. In 2016, it established a Blockchain Competency Center to provide
service offerings in developing and implementing blockchain solutions.
• It started its practice with over 20 professionals with backgrounds from different industries, including financial services, healthcare, insurance,
government, media, and retail. The practice focuses on identifying and qualifying blockchain use cases across these verticals. Few examples of such
use cases are collateral management, public and private record-registries, and royalty distribution.
• Leveraging its strength in engineering services, it has developed expertise on open-source platforms such as Ethereum and NXT and has created in-
house solutions on Ethereum, such as Digital Asset Management Platform, Open Betting Platform, and Loyalty Network.
Practice Maturity
Investments & Innovation
Ecosystem Development
EPAM : RadarView Profile
• To accelerate its implementation of blockchain in the supply chain, digital direct marketing, and anti-counterfeiting, it made a seed investment in a
blockchain start-up Sigmaledger in November 2018. Along with the Blockchain Competence Center, it has plans to form a division of IT specialists in its
Ukraine Kharkov office to work on this project.
• EPAM has developed a fair amount of thought leadership content in the form of blog posts and white papers. These cover many of the predictions
about the impact of blockchain on industries.
• It also participates in events and conferences to promote the blockchain technology. In July 2019, it sponsored the Unconventional Resources
Technology Conference (URTeC) in Colorado that had over 6,000 attendees and 300 technical presentations. Here, EPAM also shared one of its
industry solutions that leverages blockchain.
46
Industry Coverage
Darker color indicates higher industry concentration
HCL : RadarView Profile
100%+ 110%+Blockchain
services growth
Active clients growth
Proprietary blockchain application platform for
rapid blockchain implementation.
Framework-based approach. Focus on multiple industries.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Built a blockchain-based artwork tracking system to bring artwork traceability from creation
to its receipt by the museum. The chain of custody data is stored in the system.
• Redesigned the reference data for a leading South African bank using. Previous reference
data management system had data synchronization issues leading to inconsistencies,
inefficiency and potentially fraudulent activities.
• Built patient data management system on blockchain for a European healthcare provider.
This enables patient with the real-time view of his/her care provided by different stakeholders,
including doctors, hospital, diagnostic centre and pharmacist. The patient can provide
blockchain-based consent for the access of his/her data to the relevant stakeholders.
• Built a decentralized digital identity platform for a European insurance provider that stores
identity verification and KYC documents-related information and can be integrated with
other onboarding processes.
• Practice Size: 50+
• Active Clients: 15+
• Certified/Trained Resources: 35+
• Delivery Highlights: HCL CoTrust,
Blockchain Application
Platform, CoTrust Console
Sample ClientsPartnershipsKey IP and Assets
• CoTrust - Blockchain application
platform
• CoTrust Console - Blockchain
framework for onboarding &
operations
• RACE - Use case evaluation
framework
• SecurBlock - Blockchain security
framework
• Pilot Program - Design thinking-
based MVP Development
• Global enterprise information
management firm
• A leading bank in South Africa
• An art management company
• An enterprise software
company
• A leading European healthcare
provider
• A European insurance provider
Platform Provider
Industry Consortium
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
47
Analyst Insights
• Since the incubation of its blockchain practice 4 years ago, HCL has been supporting its blockchain projects through its established CoE, which is under
its Digital and Analytics practice. HCL Blockchain team includes blockchain architects, industry and business experts, developers and technology
evangelists. It has been developing blockchain solutions across all industries and has some pilot cases close to production.
• HCL leverages its blockchain application platform CoTrust and operations framework for onboarding and operations known as CoTrust Console to
accelerate its clients' blockchain journey. To bring standardization in its offerings across security, use case evaluation, and MVP development, it has
created 3 frameworks: SecureBlock, RACE, and Design Thinking-based MVP approach, which form key IPs in its vast portfolio of assets.
• To strengthen its ecosystem in this space, HCL has partnered with universities, legal experts (for smart contracts related governance), start-ups, etc.
• Started with financial services, HCL has now expanded across Healthcare, Media & Entertainment, Hi Tech and manufacturing by implementing 40+
blockchain use cases and generating 15+ MVPs. Some of its key cases are supply chain track-and-trace, invoice discounting, and decentralised KYC.
Practice Maturity
Investments & Innovation
Ecosystem Development
HCL : RadarView Profile
• HCL’s established blockchain CoE enables capabilities around blockchain research, development, innovation, thought leadership and training
programs. It develops and refines blockchain frameworks for production-level implementations on an ongoing basisHCL Blockchain CoE has plans to
integrate with other emerging technologies such as IoT, RPA and AI to attract more prospects across industries.
• HCL recently partnered with AWS to make CoTrust available on the AWS marketplace. HCL has co-innovation partnership with SAP through which it
made CoTrust available on SAP blockchain and also developed track-and-trace and supply chain use cases.
• HCL has showcased its thought leadership in various white papers and blogs around topics like clearing and settlement, healthcare, procure to pay
and more including a paperback book published around Blockchain maturity, that presents an overview of the technology to date.
• As for key blockchain events and conferences, it participated in Coindesk's annual blockchain technology summit, Consensus 2018 as well as in
London Olympia 2018, which showcased the latest developments in the blockchain space.
48
Industry Coverage
Darker color indicates higher industry concentration
Hexaware : RadarView Profile
50+ 30+
use cases with fintech team
offices across the globe
Rapidly evolving
provider. Strong
emphasis on Fintech.
Active thought
leadership.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Developed a blockchain distributed app prototype for over-the-counter derivative
transactions at the fintech lab of a Japanese investment bank. The prototype was used to
streamline an exhaustive email exchange process during a typical negotiation seen during
an over-the-counter derivative transaction.
• Enabled an asset tracking system for a large original equipment manufacturer in managed
print servicing space. The system allows the manufacturer to reclaim the assets out of the
lease and avoid revenue loss. Implemented IoT-enabled smart contracts on blockchain for
the automated triggering of actions to comply with agreed contractual terms.
• Practice Size: 30+
• Active Clients: 10+
• Certified/Trained Resources:
25+
• Delivery Highlights: EPIC
Framework for blockchain
adoption
Sample ClientsPartnershipsKey IP and Assets
• Multi-cloud Blockchain
Incubation Sandbox - Sandbox
environment for multi-cloud and
on-prem deployment options
• EPIC Framework - A framework
for blockchain adoption
through all the stages of the
lifecycle
• A Japanese investment bank
• Large OEM in managed print
servicing space
Platform Provider
Startup
Industry Consortium
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
49
Analyst Insights
• Hexaware established its blockchain practice through its blockchain technology lab in 2017 to help its customers evaluate the right set of tools and
platform for their blockchain initiatives. Currently, its services are mainly on blockchain development, infrastructure and network management, and
testing and support/maintenance.
• It has experience in delivering blockchain solutions to its customers on specific use cases in lease finance, blockchain-based asset tracking solutions,
IoT-enabled smart contracts for automatic usage tracking of assets, and invoice payments.
• Its partnerships are centered on deep relationships with niche start-ups, industry consortia, open-source developer community, and
academia/research. It has showcased expertise on different blockchain platforms and has built PoCs such as trade finance using Hyperledger Fabric,
OTC Trade Settlement using R3 Corda, etc.
Practice Maturity
Investments & Innovation
Ecosystem Development
Hexaware : RadarView Profile
• To develop expertise on blockchain platforms, Hexaware is developing products and releasing them in the public cloud marketplace (AWS, Azure, and
Google). One of these products is a multi-cloud blockchain incubation sandbox to provide a sandbox environment for several deployment options
(Google Cloud Platform, AWS, and IBM BlueMix). It is also building a Smart Contract Accelerator Pack and industry-standard business templates.
• It has established an innovation lab for conducting research and applied innovation on trends related to blockchain technology. The lab works with
the blockchain unit to develop use cases and solutions.
• Hexaware actively participates in key blockchain events and forums. As a panelist at the Global Blockchain Forum on October 2018, its leadership has
spoken on critical blockchain topics such as interoperability, standardization of protocols, and business model transformation with blockchain. With a
particular interest in the Fintech space, it has conducted Fintech hackathons. It is also a Gold sponsor of the Fintech Innovation Assembly 2018 that
conducted various sessions on innovation in financial services.
• Its in-house thought leadership activities include publishing various white papers and blog posts. One of its white papers was about leveraging
blockchain to transform citizen services.
50
Industry Coverage
Darker color indicates higher industry concentration
IBM : RadarView Profile
27+ 80+
Blockchain patents
Blockchain production
networks
Industry trailblazer with multiple live
engagements. Active in consortia for industry-
specific solutions. Established thought
leadership.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Enabled a blockchain network for Golden State Foods in Jan 2019 to track food products in
the supply chain. The sensor data is integrated with IBM Blockchain to create a secure ledger
to be used by individual stakeholders, thus improving visibility and accountability.
• Worked with the American Association of Insurance Services (AAIS) in Aug 2018 to build an
open blockchain network, openIDL, that streamlines regulatory reporting and provides
insights for insurers, while enhancing timelines, accuracy, and value for regulators.
• Built the we.trade platform on the IBM Blockchain with London Stock Exchange to digitize the
issuance of securities for SMEs in Europe. It simplifies the tracking and management of
shareholding information, thus increasing insight into company information.
• Collaborated with a group of healthcare payers and providers in Jan 2019 to create a
blockchain network that enables healthcare companies to build, share and deploy solutions
including efficient claims and payment processing and accurate provider directories.
• Practice Size: 11,000+
• Active Clients: 800+
• Certified/Trained Resources:
6000+
• Delivery Highlights: IBM
Blockchain platform, an
enterprise-ready blockchain
platform
Sample ClientsPartnershipsKey IP and Assets
• IBM Blockchain platform -
Enterprise-ready blockchain
platform
• Tradelens - The global supply
chain platform
• IBM FoodTrust - A software-as-a-
service solution for food supply
chain
• Trusted Identity - For
decentralized identity
management
• London Stock Exchange
• The American Association of
Insurance Services
• Golden State Foods
• Maersk
• Ford Motor company
• State of Delaware
• A large health insurance
provider
• A large pharmaceutical
manufacturer
Platform Provider
Enterprise
University/Academia
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
51
Analyst Insights
• IBM has a long provenance with blockchain. It has strong credentials in the industry and extensive experience in collaboratively designing and
launching enterprise business networks. It has focused on executing the solution for a business challenge rather than the technology itself.
• To solve critical industry challenges ranging from secured and transparent supply chains to trust in food products, IBM has built and joined new business
networks. It has active joint ventures spread across the globe through which it has created solutions such as Tradelens, a blockchain-based global
supply chain platform designed in collaboration with Maersk and supported by major industry players.
• Its IBM Business Value Design is delivered in collaborative garage environments right at the beginning of the project to focus on how business values
can be driven. It also has an offering to drive the full blockchain ecosystem and get participants onboard.
• Its IBM Blockchain Platform, a fully integrated enterprise-ready blockchain platform, facilitates clients' blockchain adoption journey in more cloud
environments besides IBM Cloud. It is also leverages IBM Watson to combine cognitive capabilities with blockchain.
Practice Maturity
Investments & Innovation
Ecosystem Development
IBM : RadarView Profile
• IBM has emphasized creating and utilizing reusable solutions, assets, and design artifacts. These include IBM Provenance engine, Secure ID, Secure
Digital docs, IBM Food Trust (for supply chain transparency), and Tradelens (for shipping and transport digitization).
• It has over 20 innovation centers across the globe and has over 25 blockchain-related patents in its portfolio. It has put significant investments that are
focused on driving technology innovation, business innovation, and growth of talent/skill. To accelerate the blockchain capability across the IBM
enterprise, it is providing over 75,000 certifications and badges to the entire 400K+ IBM population.
• IBM has made substantial technical contributions to the blockchain industry. As a founding member of Hyperledger, it has donated initial code,
developers, and intellectual property to Hyperledger projects such as Fabric and Composer. As an established thought leader in this space, it
contributes and sponsors industry discussions, events, sessions, hackathons, and conferences.
• It has added blockchain to the IBM Academic Initiative, a program that provides educators and students with training resources to develop market-
ready blockchain skills. It is also partnering with Columbia University to create the Center for Blockchain and Data Transparency to drive the research
on blockchain and data encryption.
52
Industry Coverage
Darker color indicates higher industry concentration
Infosys : RadarView Profile
85+ 170%+
Blockchain use cases
Active clients growth
Vast portfolio of solution
accelerators and
platform. Strong
partnerships. Robust
thought leadership.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Created a blockchain network on the supply chain of coffee bean for a leading agro
commodity supplier for their provenance and tracking throughout the lifecycle. The solution
resulted in real-time visibility and documents digitization that reduced audit costs.
• Built a blockchain network that optimized the ongoing processes of a tax department,
including an exemption on interest and mortgage, consolidated tax statement, and business
tax certificate. This resulted in faster processing, tax compliance, and full visibility of liabilities.
• Helped a large North American bank gain process efficiency by bringing the entire trade
lifecycle of bond issuance between the bank and another bank on R3 Corda.
• Helped a large bank in the verification and reconciliation of farm loans against inventory
(farm vehicles) position with dealers using IoT and blockchain. The solution reduced the cost
of oversight and enabled timely reporting and payment remittal.
• Practice Size: 3500+
• Active Clients: 170+
• Certified/Trained Resources:
700+
• Delivery Highlights: Intelligent
Application Platform that
converges multiple
technologies
Sample ClientsPartnershipsKey IP and Assets
• Intelligent Application Platform -
Application development
platform using IoT, analytics, ML
and blockchain
• Identity platform - For self-
sovereign identity and personal
data management
• Finacle Payment Connect -
Platform to digitize the payment
processes
• NIA provenance application -
Platform for asset traceability
• A US coffee company
• A large North American bank
• A leading food and agri-
business company
• A government agency for tax
collection in India
• A large Australian bank
• A supply chain tech provider
• A Canadian bank
• A post-trade financial company
Platform Provider
Industry Consortium
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
53
Analyst Insights
• Infosys' independent blockchain service line has now become a dedicated practice with its business development, marketing, delivery, research,
training, and operations teams working across the globe. The practice not only provides end-to-end blockchain capabilities but also enables
blockchain integration with other emerging technologies.
• It focuses on organizing working groups in every industry to develop industry-specific use cases, solutions, and strategies. These working groups
collaborate closely with the blockchain practice to further enhance its offerings.
• It has been accelerating its clients' blockchain adoption journey through its vast portfolio, which contains 45+ accelerators, including the Infosys
Intelligent Application Platform (IIAP) that addresses use cases requiring the convergence of emerging technologies.
• It has successfully deployed live enterprise blockchain networks and ready to onboard networks such as cross-border remittance and government
taxation (supposed to go live soon). It leverages its partnerships and facilitates consortium development to drive this network effect.
Practice Maturity
Investments & Innovation
Ecosystem Development
Infosys : RadarView Profile
• EdgeVerve, Infosys' wholly-owned subsidiary, develops products in emerging technologies, including blockchain. NIA provenance, its flagship
blockchain offering and Finacle Blockchain Frameworks (for payments and trade connect network) were developed by EdgeVerve. It also leverages
capabilities from its R&D unit, Infosys Center for Emerging Technology Solutions (ICETS) to bring cutting-edge applications to its clients. It is heavily
investing in the integration of emerging technologies through ICETs.
• It is significantly investing in innovation hubs across the US, Europe, and Australia and establishing dedicated industry-specific blockchain experience
labs in delivery centers across the globe. The clients and partners can co-build and showcase solutions through these innovation hubs.
• Infosys has been active in developing and disseminating its blockchain-specific points-of-view through blogs, podcasts, videos covering blockchain
across industries (agriculture, education, e-governance), the future of blockchain, the possibilities around this technology, etc. It has significantly
invested its time and efforts in developing the blockchain industry by participating in various events, conferences sponsored by consortia such as
ASSOCHAM and R3 Corda. It has also showcased its solutions in external events such as Oracle Open World, Modern Business Experience, CordaCon.
• It is heavily engaged in organizing workshops for blockchain training and awareness and has completed 2900+ total workshops and trained 1500+
resources on advanced blockchain topics.
54
Industry Coverage
Darker color indicates higher industry concentration
LTI : RadarView Profile
20-50% 12%+Blockchain
services growth
Active clients growth
Strategic focus on
Blockchain. Robust
partnership ecosystem.
Strong thought
leadership and market-
developing initiatives.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Implemented a blockchain-based solution on cloud for a leading consumer goods company
to improve efficiency in its supply chain that spans across India and the US. It maintains
crucial information from 10 suppliers, 2 quality labs, freight forwarders, among others.
• Developing a multilateral blockchain platform for an international development bank to
record multilateral agreements between nations and facilitate public and private services
that tend to supply chain, public welfare schemes, etc. between countries.
• Developed a blockchain-based solution for a leading contract manufacturer to mitigate
disputes, maintain consistency to information, and reduce the turnaround time of several
processes between the supplier and the client.
• Built a blockchain-based platform for a global insurance major that offers confidentiality of
information between the carriers and brokers involved, enabling the required level of
transparency and visibility in the network, and eliminating data mismatch.
• Practice Size: 200+
• Active Clients: 15+
• Certified/Trained Resources:
200+
• Delivery Highlights: Blockchain
accelerator program to identify
right use cases
Sample ClientsPartnershipsKey IP and Assets
• Raspberry Pi-based Supply
Chain - Fully Integrated RPi with
nodes running on Ethereum
• Blockchain Readiness
framework - Assesses the
suitability of Blockchain solution
• NF Confirm - A prototype to
address the issue of counterfeit
in the supply chain
• Echochain - An AI-based
prototype for retrieving
information from Blockchain
• A US multinational consumer
goods corporation
• One of the largest financial
services multinationals
• An international financial
institution
• A leading Nordic payment
processor
• A global insurance organization
• A leading pharma
manufacturer
Platform Provider
Industry Consortium
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
55
Analyst Insights
• LTI has identified blockchain as a key to its growth strategy over the last few years. The practice has matured and caters to a diverse client base in BFSI,
manufacturing, retail and CPG.
• The company leverages its ready modules and reusable frameworks to fast-track PoC development. It has successfully supported its clients' blockchain
adoption journey from PoC to pilot and now, to production. It has one live engagement going on with a US multinational consumer goods corporation
in which it has implemented a blockchain-based solution for increasing the latter’s supply chain efficiency.
• Its delivery of solutions using blockchain technology to the clients is supported by its strong alliances with Microsoft, Oracle, IBM and SAP, in addition to
the expertise it has built early on enterprise-ready platforms such as Ethereum, R3 Corda and Hyperledger. Many of its projects have leveraged
Ethereum in the areas of trade finance, identity management, asset tracking, and supply chain management. It has also delivered projects using other
platforms such as Stellar, Quorum, and Multichain.
Practice Maturity
Investments & Innovation
Ecosystem Development
LTI : RadarView Profile
• Focused on blockchain scalability, interoperability, and security, it has interests in start-ups and projects in these areas. It recently partnered with Orbs,
the blockchain stack that provides scalability between virtual chains. Also, it is keen on integrating blockchain with other emerging technologies such
as analytics and IoT and is designing proprietary solutions using RFID technologies such as NFC chips to guarantee the authenticity of goods. It is
currently building an analytics engine.
• Besides external hiring, it has plans to build robust training modules. To identify opportunities across geographies for blockchain-based implementation,
it has introduced Blockchain Jedis who work with both existing clients and prospects.
• Being an active member of the Enterprise Ethereum Alliance and of several working groups, it is enhancing the platform by developing industry-specific
solutions. In June 2018, it was awarded Microsoft Partner of the Year for creating a solution for a global contract manufacturer, besting 2600
nominations. It has been leading and contributing to blockchain market development initiatives through various competitions and challenges, one of
which is Infiniti, a case study competition in which over 400 teams registered and designed over 120 solutions.
• Since last year, it has been active in developing and disseminating its blockchain thought leadership content in multiple blogs, white papers, webinars,
guidelines, and sessions.
56
Industry Coverage
Darker color indicates higher industry concentration
Mphasis : RadarView Profile
200% 33%Growth in certified
resources
Active clients growth
Strong emphasis on
business case
development. Point
solutions across BFSI
and healthcare.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Helped a global bank build a comprehensive sanction screening solution based on
Hyperledger. This helps block funding for terrorist activities, money laundering, and the drug
trade if included governments’ lists of sanctioned entities. Every payment processed by the
bank gets checked against these sanction lists.
• Built a blockchain-based medical payment solution with a large broker to make the claim
status available to all patient stakeholders, hospitals, and the insurance company. A hospital
accesses the policy details from the patient, initiates the claim estimate, and notifies the
broker. It then proceeds with the treatment as soon as the broker approves the documents
and the claim amount.
• Enabled a shared, decentralized network between principal stakeholders (importer, exporter,
port authorities and banks) to address issues related to the time-consuming document
verification process, the occurrence of fraudulent activities, and others.
• Practice Size: 30+
• Active Clients: 8
• Certified/Trained Resources: 15+
• Delivery Highlights: Business case
framework to create strong
business cases
Sample ClientsPartnershipsKey IP and Assets
• MongoDB Controller - Uploads
and retrieves files from
MongoDB.
• DashBoardGeneric - Generic
blockchain explorer for
Ethereum and Quorum
blockchain.
• DeployContracts - A tool to
deploy a smart contract on
Ethereum or Quorum
blockchain
• One of the largest financial
services multinationals
• A large broker
Platform Provider
Startup
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
57
Analyst Insights
• Mphasis has identified business case development by enterprises as the biggest challenge in large scale blockchain adoption. It has taken an
interesting approach by developing a program that helps enterprises with this challenge. It has identified a 10-12 week process to create a strong
business case covering costs, benefits, and risks to help its clients move from PoCs to the production stage.
• It has built several PoCs for clients in banking, financial services, insurance, healthcare, and life sciences. One of its projects involves 9 banking leaders,
including Citigroup and Barclays, building LedgerConnect, a blockchain-based application that addresses collateral management.
• It is also leveraging its partnership to build blockchain solutions. As a founding member of Multichain, an open-source, freely downloadable blockchain
solution, it leverages its close relationship with Multichain's engineering team and early access to Multichain releases.
Practice Maturity
Investments & Innovation
Ecosystem Development
Mphasis : RadarView Profile
• It has done design and development work for dApp and has built several dApps for the marketplace. Through its blockchain CoE established in 2016, it
has been implementing R&D initiatives and now has a target of registering at least one patent this year and develop more innovative solutions and IPs.
Besides BFSI and healthcare, it has started to building solutions for the manufacturing sector.
• It has plans to expand its blockchain capability through more industry engagements and partnerships. For instance, it is collaborating with BigChainDB
to build a trade finance solution.
• Mphasis is working with a consortium of banks on 2 pilot projects: a sanction-screening solution and a semantic smart contracts development. It is
helping these banks by designing an architecture framework to implement blockchain.
• It demonstrated its blockchain capability in the recent NASSCOM Technology and Leadership Forum 2019. Its thought leadership content are
disseminated in the form of articles, one of which is about bringing blockchain to financial services. It plans to develop more thought leadership
content.
58
Industry Coverage
Darker color indicates higher industry concentration
NTT DATA : RadarView Profile
50-75% 60%+Blockchain
services growth
Active clients growth
Significant focus on
blockchain R&D and
interoperability
capabilities. Vast range
of frameworks and
patents.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Building a blockchain-based application with the research and innovation center of the
Italian Banking Association (ABI) for interbank reconciliation of the entire banking system in
Italy. This will provide higher data transparency and visibility, faster execution, and the
possibility of performing checks and exchanges directly within the application. New tests are
underway to check on the robustness of the platform for 200 banks, and 200 MN data items.
• Helped Singapore rebuild its trade platform (National Trade Platform) to connect with Hong
Kong and other countries. The platform provides digitized trade documents where data
originality is guaranteed per transaction. Only certain users with the right authority can
access data securely and utilize it to support timely decision-making.
• Built a blockchain-based supply chain platform with NEDO, a Japanese national research
agency, that involves importers, exporters, forwarders, and customs companies to improve
productivity and shorten lead times for processing export documentation.
• Practice Size: 300+
• Active Clients: 85+
• Certified/Trained Resources:
100+
• Delivery Highlights: 4 innovation
labs across the globe
Sample ClientsPartnershipsKey IP and Assets
• Blockchain One-Stop
Environment (BCOSE) - A
framework to pursue
blockchain environments
• BlockTrace - A supply chain
solution
• Platform Selection Framework -
Evaluates technology platform
• Document verification - Verifies
if a document has been
tampered with
• Associazione Bancaria Italiana
(ABI)
• Inter-American Development
Bank (IDB) Group
• Singapore National Trade
Platform
• New Energy and Industrial
Technology Development
Organization (NEDO)
Platform Provider
Startup
Industry Consortium
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
59
Analyst Insights
• Having started its practice in 2015, NTT DATA has expanded its blockchain practice across 20 countries. Being a founding member of the Hyperledger
Foundation and contributor to projects like Hyperledger Iroha and Quilt, it is in an excellent position to help its clients in their blockchain journey.
• The strong technical expertise built through its rigorous R&D initiatives helps its clients explore the feasibility and availability of blockchain technology. In
addition to the R&D initiatives, it leverages its partnership network that involves enterprises such as SAP, Microsoft, and Oracle to collaborate on
enterprise solutions.
• The breadth of use cases across key industries and frameworks offered by NTT DATA has resulted in it moving beyond the PoC and pilot stages to the
production stage. It is the sole system integrator working in Italy with ABI lab (the banking research and innovation center of the Italian Banking
Association) to provide higher data transparency and visibility, faster execution, and the possibility of performing checks and exchanges directly within
the application for 200 banks across the whole country and 200 million data items.
Practice Maturity
Investments & Innovation
Ecosystem Development
NTT DATA : RadarView Profile
• NTT DATA has focused on building blockchain applications through its 4 innovation labs. One of its initiatives is the Blockchain One-Stop Environment
(BCOSE), a services framework for the major blockchain architectures (Hyperledger, Ethereum, Corda, Quorum, etc.). In addition, it has 4 approved
patents and 10 patents pending.
• As part of its Interledger strategy, it is building out interoperability capabilities that enable clients solutions to communicate with other blockchain
platforms. It is creating a reusable and extendable Interledger Java set of utilities in collaboration with Ripple.
• It has also invested in blockchain startup Skuchain to build an integrated blockchain IoT platform for the enterprise supply chain.
• NTT DATA is a very active member of various consortia. Being a founding member of the Hyperledger consortium, it is contributing to the overall growth
of blockchain technology. It helped establish Hyperledger Quilt and contributes to Hyperledger Iroha projects. Besides this, it is also the founding
member of the Alastria consortium and a member of EEA and R3 Corda.
• It has been engaging with key blockchain events and discussions. It recently delivered a session in Consensus 2019 held last May 15-19 on the topic Are
Banks Disrupting Themselves Yet? A DLT Reality Check.
60
Industry Coverage
Darker color indicates higher industry concentration
TCS : RadarView Profile
100+ ~20
blockchain prototypes
innovation labs
Product-based
approach. Leverages
Quartz Smart Solutions,
its proprietary set of
blockchain solutions.
Rich partner network.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Built a PoC for ABN AMRO Bank's clearing and settlement services by experimenting with the
issue and transfer of securities and tokenized cash balances in a distributed ledger between
issuers, clearing banks, and investors. The solution gave insights to the bank on the integration
of legacy with blockchain.
• Used Quartz blockchain for the non-exchange trade settlement of the Canadian Depository
for Securities. The PoC was part of a large market infrastructure transformation program
aimed modernizing the depository, clearing and settlement services in Canada. The system
can be extended in the future to support interoperability with external blockchain networks,
such as cash settlement.
• Built a pilot for Standard Bank of South Africa in Oct 2018 that involved using the Quartz
Blockchain technology for cross-border corporate action information exchange using the
TCS BaNCS Network.
• Practice Size: N/A
• Active Clients: N/A
• Certified/Trained Resources:
N/A
• Delivery Highlights: Quartz-TCS'
blockchain solution
Sample ClientsPartnershipsKey IP and Assets
• Quartz Gateway - A single,
smart channel to integrate
existing applications with
blockchain platforms
• Quartz Dev Kit - A smart
contract development kit
• Quartz Command Center -
Administers and maintains
oversight of the entire
blockchain network
• Standard Bank of South Africa
• Canadian Depository for
Securities Ltd.
• Maroclear
• Kuwait Clearing Company
• BNP Paribas Group
• ABN AMRO Clearing
Platform Provider
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
61
Analyst Insights
• TCS started its blockchain practice in 2014 with the establishment of a dedicated Center of Excellence to demo use cases and PoCs across the
banking and capital markets domains. Currently, it provides a structured approach through its Business Value Delivery Model (BVDM) to help its clients
by identifying relevant innovation opportunities to improve business value.
• It leverages its Quartz Smart Solutions to accelerate its clients' blockchain adoption. Some of the readily available solutions are Quartz Contract
Authoring, Quartz Loan Securitization, Quartz Reward Points, and Quartz KYC.
• It has a rich partnership network and alliances with global blockchain players, including IBM, Microsoft, and SAP to gain early access to technology
advancements. Currently, it is offering its solutions and services in 9 leading blockchain platforms that include prominent providers Hyperledger,
Ethereum, and R3 Corda.
Practice Maturity
Investments & Innovation
Ecosystem Development
TCS : RadarView Profile
• TCS is currently developing 5 blockchain platforms for digital identity, track and trace, assets in common, asset monetization and tokenization on Azure
blockchain cloud and R3 Corda. In June 2019, it announced its partnership with SAP for a blockchain medical device supply chain initiative.
• In addition to its already established 19 innovation labs across the globe, it opened an innovation hub in July 2019, TCS Pace Port New York, in
partnership with the Cornell Tech graduate school to research, develop, and commercialize the latest technologies, including blockchain.
• It is considering inorganic means to drive blockchain services growth by including more IPs and improving services portfolio and market reach.
• TCS is actively participating in forums and events to promote the blockchain technology and to showcase its blockchain services to the industry. In May
2019, the TCS Global Head spoke on driving value from the blockchain at Consensus 2019 held in New York.
• It also uses its thought leadership capabilities to disseminate its insights and views through blog posts and white papers. They cover blockchain security
and economic incentives, IoT and blockchain potential in the supply chain, blockchain in the software product industry, and many more.
62
Industry Coverage
Darker color indicates higher industry concentration
Tech Mahindra : RadarView Profile
100%+ 45%+Blockchain
services growth
Active clients growth
Robust partnership ecosystem with niche
emerging players. Industry-specific
blockchain solutions. Exponentially growing
practice.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Created an internal tool for a British global bank to measure the efficiencies generated by
business teams and track utilization of resources that help the global onboarding team with
visibility to plan and allocate better. The project is now live.
• Built a cross-border remittance audit platform for a large Indian public sector bank for the
India-Nepal gateway. The solution provides near real-time reporting and auditing ability for
cross-border transactions. The plan is to put 25+ corridors on the blockchain.
• Created a blockchain-based system for a Benelux-based cable and telecom operator to
manage common processes such as work orders and payments. The solution enables
efficient network planning though smart contracts.
• Working with the Indian regulator of the telecommunications sector to develop a DLT-based
regulatory compliance platform to restrict unsolicited customer calls for large telecoms in
India. This live solution caters to around 400 million subscribers.
• Practice Size: 65+
• Active Clients: 70+
• Certified/Trained Resources: 10-
30
• Delivery Highlights: Block Studio,
dApp marketplace with 14
dApp apps and 6 protocols
Sample ClientsPartnershipsKey IP and Assets
• Consent-as-a-service - Consent
management platform
• Block Activity - Explorer that
gives network activities insight
• Application Templates -
Accelerators for quick POCs
• Automation script - To
accelerate multi-node
blockchain setup on cloud and
on-premise
• The regulator of the
telecommunications sector in
India.
• A large cable and telecom
operator in Benelux
• An American semiconductor
and storage company
• A large American automobile
company
• A global British bank
• A large Indian public sector
bank
Platform Provider
Startup
Industry Consortium
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
63
Analyst Insights
• As part of the strategy of becoming the leading blockchain company, Tech Mahindra has identified and is working on a holistic framework to create
industry-specific blockchain applications.
• Leveraging a consulting-led approach to address clients' business problems through the blockchain 3I framework (implementation, integration and
infrastructure), it has adopted strong co-innovation and co-development methodology with clients. It also provides professional services to its clients in
which it partners with the technical department of its clients to create blockchain PoCs.
• Focusing on emerging trends in this space, it is collaborating with niche players in the market that includes several start-ups, universities, digital ledger
technology providers, and governments to develop blockchain solutions. Recently, it initiated a GTM partnership with DLT Labs for solutions such as
Asset Tracking Blockchain PaaS. It is working with its partner platform, I2C Chain, in designing enterprise security solutions.
Practice Maturity
Investments & Innovation
Ecosystem Development
Tech Mahindra : RadarView Profile
• Tech Mahindra has identified inorganic investments as key to enhancing its IP portfolio, add new clients, and new platforms. Recently, it has invested in
IntainFT, a blockchain-based loan securitization solution provider, to promote the solution in the Indian and the European markets. In June 2018, it also
invested in TradeIX, a trade finance platform, to use it across domestic banks in India.
• It is significantly investing in upskilling and cross-skilling its resources through programs such as BlockGeeks in which they get instant access to blockchain
training from the world's blockchain experts. It also has partnerships with IBM, NASSCOM, R3, etc. to certify its employees on different blockchain tools.
• Leveraging its strong presence in the Indian market, Tech Mahindra has collaborated with the Government of Telangana, Eleven01 (India's first
blockchain protocol), IIIT-Hyderabad and CDAC to help Telangana emerge as the Center of Blockchain Industry in the world.
• It has been a part of various Industry consortia, including BiTA and IOTA. It has a strong connection with BiTA, participating in meet-ups and showcasing
its use cases in logistics and supply chain domain. It is also taking BiTA beyond the US to develop standards in the logistics industry globally.
• It has participated in various events and conferences and produced a lot of thought leadership content. It is an active speaker in key blockchain
events such as the Internet and Mobile Association of India (IAMAI) event on "Blockchain for Social Good".
64
Industry Coverage
Darker color indicates higher industry concentration
UST Global : RadarView Profile
20-50% 25%+Blockchain
services growth
Active clients growth
A Hispanic focused
provider. Focus on
blockchain education.
Innovation-as-a-service
at client's location.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Built One Pay-FX, a blockchain-based international money transfer service, for a Spanish
bank. The real-time transfer between the banks is made on the Ripple network, a real-time
gross settlement system, currency exchange, and a remittance network.
• Developed a blockchain-based loan tokenization system where loans are converted into
digital assets and stores associated documents in a parallel blockchain. This provides data
integrity and confidentiality.
• Worked with a leading London-based law firm to improve the current procedure for the
aircraft sale agreements. Ownership of the aircraft is tokenized as a digital asset, the transfer
of which is recorded in the blockchain and is related to the smart contract.
• Developed a blockchain-based food traceability solution for a Fortune 1000 retail company
that stores the data generated from the product traced by participants. It also involves big
data and business intelligence to carry out an exhaustive analysis of the data generated.
• Practice Size: 50+
• Active Clients: ~10
• Certified/Trained Resources:
N/A
• Delivery Highlights: EasyBC
Manager to manage
blockchain deployments
Sample ClientsPartnershipsKey IP and Assets
• EasyBC - A web-based interface
to deploy blockchain solution
• A leading Spanish multinational
commercial bank
• A leading Spanish electric utility
company
• A global professional services
firm
• A leading London-based
multinational law firm
• A US-based Fortune 1000 retail
company
• A leading Colombia-based
government institution
Platform Provider
Industry Consortium
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
65
Analyst Insights
• Started fairly early in this space, UST Global offers its blockchain offerings spanned across consulting, PoC and MVP development, and maintenance
through its Centre of Excellence. Through this CoE, it approaches clients' business issues through market research, defines roadmaps including training
and assessment programs and develops products.
• It is a Hispanic-focused provider, with its clients are mostly in Spain and Latin America and are in the utilities, legal and banking industries. Its live
engagement is with a leading Spanish bank to make international money transfer fast and secured using blockchain.
• It emphasizes working closely with its clients by setting up an innovation lab at the client's location that comprises a dedicated team to train the client,
discover new use cases, develop prototypes, and scale.
• Even though it has focused on Hyperledger Fabric, it is also exploring hybrid blockchain, in which both private and permission-less blockchain can
interact with each other. It is has a strategic interest in working with Polkadots because it believes that Web 3.0 is the next big thing.
Practice Maturity
Investments & Innovation
Ecosystem Development
UST Global : RadarView Profile
• UST Global is focusing on vital research and development areas to develop new solutions and assets. In fact, half of its planned investments are geared
towards asset development. It is also actively involved in setting up innovation labs in several countries. One of its in-house-developed accelerators is
EasyBC, which is a web-based solution to manage blockchain deployments.
• It has plans to expand its services across South America, Europe, and the US. It is also establishing partnerships with leading blockchain platform
providers and enhance its capabilities in key blockchain technologies to help its clients in their blockchain adoption journey.
• As one of the co-founders of the Alastria network, a Spain-based multi-sectoral blockchain consortium, it is active in developing and providing
blockchain networks for companies to distribute their solutions.
• It continually conducts training sessions via partnerships with universities. It has a dedicated team for enterprises that want blockchain training and has
developed a proprietary training program in order to turn a senior developer into a fully-competent blockchain specialist in 6 weeks. It also conducts
hackathons.
66
Industry Coverage
Darker color indicates higher industry concentration
Virtusa : RadarView Profile
100+ 20+ Pre-compiled
blockchain use cases
Solution accelerators
Research-focused provider. Proprietary blockchain protocol. Strong collaborations
with both permissioned and permission-less
protocols.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Developed a blockchain-based EHR management solution for an insurance provider based
in the US, through which the patient manages, controls and accesses his/her health data
and allows other members, including hospitals, researchers and insurance companies to
read and update the same data source. The company has automatic up-to-date
information and spends fewer man-hours verifying the information.
• Created an insight platform for data-driven video advertising to improve ad planning and
addressable targeting of a large media firm based in the US. The firm hosts the blockchain
network, maintains an audit of trade and onboarding of data providers, including
broadcasters, developers, ad-agencies and data warehouses.
• Developed a blockchain-based solution for a New York-based start-up to automate
contracts for commercial loans. The agreements are digitized, and all the participants in the
smart contract are alerted when any changes are made to the terms.
• Practice Size: 10+
• Active Clients: 5+
• Certified/Trained Resources:
N/A
• Delivery Highlights: xChain,
internally developed
blockchain protocol
Sample ClientsPartnershipsKey IP and Assets
• Sandbox - An accelerator to
auto-configure the use case
• xChain - Internally developed
blockchain protocol
• A large US media firm
• US-based insurance company
• A New York based start-up
Platform Provider
Startup
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
67
Analyst Insights
• Virtusa's blockchain practice only started in 2017, but it has quickly been able to take some marquee engagements to production. For example, it
developed a blockchain-based EHR management solution for a US-based insurance provider. Some of its other engagements are nearing production.
Its client base span industries such as BFSI, healthcare, media and entertainment, and utilities and resources.
• Its client solutions are tailor-made blockchain structures and it has experience in over 100 use cases and 20+ solution accelerators in payments, credit
monitoring, checking fraud management, trade finance, and OTC derivatives.
• It continues to focus on building relationships with platform providers to become the integrator of choice for large enterprises. It has collaborated with
other permissioned and permission-less blockchain protocols, including Hyperledger, BigchainDB, Corda, and Ethereum.
Practice Maturity
Investments & Innovation
Ecosystem Development
Virtusa : RadarView Profile
• Virtusa xLabs, the innovation hub started by Virtusa 3 years ago, is its way of tapping into the start-up ecosystem and the cutting-edge technologies
driving these businesses. It initially began as a focused FinTech Lab but has now expanded its scope to include insurance, healthcare, media, and
telecommunication industries. xLabs has built 20+ solution accelerators, connectors, and is involved in research covering over 400 blockchain start-ups.
• It is building a new blockchain protocol known as xChain, which can be run on serverless environments, automatic APIs, with much lower costs and
reduced development times.
• Virtusa is significantly investing in enhancing its thought leadership content through multiple blockchain articles that cover topics on blockchain across
different industries, including the airline industry, travel and hospitality, telecommunications, and specific applications such as election tampering.
• It continues to participate in key technology conferences. It recently exhibited its solutions such as Intelligent Document Automation for Trade Finance
in Sibos 2018, the premier annual event for the financial services community.
68
Industry Coverage
Darker color indicates higher industry concentration
Wipro : RadarView Profile
100%+ 45%+Blockchain
services growth
Active clients growth
Robust portfolio of IPs and assets.
Comprehensive partnership ecosystem.
Showcased deployments. Active thought leadership.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Built a renewable energy trading platform for a European oil and gas company to enable
peer-to-peer trading of energy on leveraging smart contracts on DLT and Ethereum. The
solution brought scalability, increased user verification, and rejected fraudulent transactions.
• Helped a North American airport authority enhance the customer experience by building a
blockchain solution to enable a real-time baggage view and notify passengers once their
luggage is available, thus reducing their wait time.
• Built an IoT and blockchain-based track-and-trace solution for a leading pharma company
that captured the movement of pharmaceutical drugs across different entities and reported
any anomalies. This reduces the admin workload of the entire supply chain by 20%.
• Developing a solution for a European electronics and technology company that proposes a
three-node permissioned blockchain for real-time information exchange in its internal supply
chain and simultaneous triggering of invoices. This reduced the time for payment settlements.
• Practice Size: 4600+
• Active Clients: 300+
• Certified/Trained Resources:
1100+
• Delivery Highlights: 90+
blockchain use cases, 25+
industry solutions and 18 patents
Sample ClientsPartnershipsKey IP and Assets
• Blockchain App Fabric - A
holistic blockchain PaaS
offering
• Platform Evaluation Matrix - An
evaluation and scoring
framework
• Network Provisioning Script -
Automated tool to set up a
blockchain network
• Smart Contract Test Assurance
Framework - Accelerates smart
contract testing
• A European oil and gas major
• An Asian central bank
• A US-based financial institution
• A leading regulatory body
• A European travel company
• A global financial institution
• A US-based print hardware
manufacturer
• A Europe based renewable
energy provider
• A US-based global apparel
retailer
Platform Provider
Industry Consortium
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
69
Analyst Insights
• Wipro started its blockchain practice in 2015 and has accelerated its clients' blockchain adoption journey through a substantial portfolio of blockchain
platform offerings, solution assets, and patents/IPs. It also leverages its 25 partners consisting of blockchain platform vendors, application providers, and
technology vendors that specialize in niche domains and technologies.
• To develop an enterprise-wide blockchain strategy, it has a domain-centric global team of active industry advisors, over 1100 blockchain experts,
coupled with the robust design capabilities of Designit. For consulting services, it leverages frameworks for use case prioritization, platform evaluation,
execution priorities, and business case assessment.
• Its integrated solutions bring together existing offerings and solutions in blockchain, AI, IoT, big data, and digital platforms like Connected Car platform,
Wipro HOLMES, and Miliu. One of its live blockchain deployments is an IoT and blockchain-based track and trace solution for a leading pharma
company.
Practice Maturity
Investments & Innovation
Ecosystem Development
Wipro : RadarView Profile
• Wipro brings its innovation in blockchain through its Lab-as-a-Service model in its Blockchain Innovation Lab and has built a strong portfolio of 3
blockchain platforms, over 90 use cases, 25+ industry solutions, and 18 patents across industries and domains in its CoE. The patents have been filed in
the US, India, and Europe across multiple industries such as travel, logistics, manufacturing, financial services. For instance, particular to manufacturing
vertical, it has filed a patent for a blockchain-enabled 3D printing system across these three regions.
• It has significantly invested in 17+ digital pods across the globe. These are workspaces built for Wipro’s digital strategy, design and engineering teams to
work in a collaborative and adaptive way, along with clients.
• Wipro is very active in disseminating its thought leadership content through multiple white papers, blogs, and articles. Apart from this, it has actively
participated as a speaker or panelist in numerous blockchain events and conferences.
• As an active member of various consortia and groups such as EEA (founding member), Hyperledger, BiTA (Blockchain in Transport Alliance), and EWF
(Energy Web Foundation), it has taken various industry initiatives. With EWF, it is working closely on the certificate of origin, EV charging, commodity
trading, etc. It is also the Chair of ASSOCHAM's National Council of Fintech, Blockchain and Digital Assets to drive policy-making for industry adoption.
70
Industry Coverage
Darker color indicates higher industry concentration
Zensar : RadarView Profile
100%+ 150%+Blockchain
services growth
Active clients growth
Research-focused
blockchain solution
delivery through
ZenSmartBlox Suite.
Multiple engagements
in the non-profit sector.
Practice Maturity
Investments & Innovation
Ecosystem Development
Practice Overview Client Case Studies
• Created a Hyperledger-based blockchain infrastructure to autonomously store individual
capacity pools across the globe, thus providing visibility across boundaries. The system
recorded the audit trail of critical actions and reduced compliance costs.
• Developed a Quorum-based blockchain infrastructure for an agricultural funding agency to
store the requirements of beneficiaries in Africa. The smart contract-based micro-financing
system improved visibility and transparency.
• Helped a global lattice tower manufacturing company to enable bill discounting on
blockchain for its vendors. Provided guidance on integration into SAP General ledger (GL)
with the blockchain and designed custom template for validating smart contract to
facilitate the discounting process. Brought key customers and vendors on board to pilot. This
also improved working capital flow for the client's vendors.
• Practice Size: 45+
• Active Clients: 10+
• Certified/Trained Resources:
N/A
• Delivery Highlights: 50+ use
cases for blockchain
Sample ClientsPartnershipsKey IP and Assets
• ZenSmartBlox - Blockchain
platform
• Deployment Controller - Allows
blockchain on multiple clouds
• Interface Controller - Moves
data in and out of the
blockchain
• Blockchain Evaluation
Framework - A patented
evaluation framework
• A global lattice tower
manufacturing company
• A global development network
• An insurance company
• A funding agency for
agriculture
Platform Provider
Industry Consortium
Enterprise
Banking
Financial Services
Government
Healthcare and Life Sciences
High Tech
Insurance
Manufacturing
Non-Profits
Retail and CPG
Telecom, Media and Entertainment
Travel and Transportation
Utilities and Resources
71
Analyst Insights
• Identifying blockchain as a core part of its growth strategy, Zensar incubated its blockchain practice in 2016 under ZenLabs, which drives the
company’s business innovation. It leverages its ZenSmartBlox platform with its accelerators for production-ready deployments.
• It has developed over 12 industry-specific PoCs in the BFSI, supply chain, non-profit and healthcare industries. Showcasing its deep understanding of the
non-profit vertical, it has a live engagement going on for a global development network among multiple blockchain engagements in a social welfare
organization.
• It has a research integrated solution delivery and has 5 blockchain patents focused on functional applicability, governance, and engineering.
• It has a vast blockchain ecosystem of platforms, tools, and infrastructure providers. Its in-house-built accelerators can deploy blockchain across
different infrastructures such as Azure, AWS, and private cloud and protocols such as Ethereum, Hyperledger, Multichain, IOTA, and Quorum.
Practice Maturity
Investments & Innovation
Ecosystem Development
Zensar : RadarView Profile
• With half of its planned investments in developing assets, Zensar intends to expand its blockchain capability by developing blockchain tools. It has a
strategic focus to provide integration into Oracle, Salesforce, and Guidewire in 2019. It is building an Oracle controller and a smart contract controller.
• To expand its blockchain ecosystem, it has extensive go-to-market plans in the manufacturing vertical. It is planning to collaborate with the IOTA
Foundation for IOTA-based implementation in manufacturing.
• Zensar is involved in generating thought leadership content by publishing various white papers on the applicability of blockchain and the power of
automation with blockchain in smart contracts.
• It is also active in crucial industry association events, including the NASSCOM Roundtable for defining the roadmap for blockchain in India in 2019.
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Avasant does not endorse any vendor, product or service depicted in its research
publications, including RadarViewTM, and does not advise users to select only those vendors
recognized in these publications. Avasant’s research publications are based on information
from best available sources and Avasant’s opinion at the time of publication, and their
contents should not be construed as statements of fact. Avasant disclaims all warranties,
expressed or implied, with respect to this research, including any warranties of
merchantability or fitness for a particular purpose.
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