Article by Forbes: Benjamin Pirus
As the technology world wages forward at a heightened pace, many big name companies have stayed up to date by diving into blockchain-based solutions. India-based Tata Consultancy Services (TCS), daughter company of Tata Group, has seen an increasing number of companies put their focus toward blockchain solutions, with a current trend focused more on pilots, instead of simply proof-of-concepts (PoCs) based on the tech.
Companies looking into blockchain-based use cases now spans “almost all verticals TCS works in,” TCS global head of blockchain services Lakshmi Srinivasan said to me in an August 7 interview. “Customers are interested in doing now more of pilots, rather than just exploring it for the sake of proof-of-concept,” he said.
A large number of mainstream players have thrown their hats into the blockchain ring, looking to improve various business operations through harnessing the technology made famous for underpinning bitcoin. Companies such as Amazon and IBM have stepped up to provide brick and mortar type solutions and frameworks to help businesses more easily adopt blockchain technology.
TCS is similar in that it essentially develops blockchain solutions for businesses, based on those “use cases driving transformation and business model innovation,” so those businesses can hit the ground running with their blockchain solutions, Srinivasan explained.
TCS Looks At Blockchain Solutions With Two Categories In Mind
TCS utilizes a “two-prong” approach, Srinivasan explained. The first prong or “pillar” targets enterprise blockchain application, he noted. In this case, TCS might serve enterprise players seeking to boost areas such as “productivity” or “efficiency,” or grow “their market share” via blockchain, the TCS blockchain head mentioned. “There [is] more emphasis that is coming in for a business case, total cost of ownership, on some of these,” Srinivasan said. “So you need to have a business case for the use case, and not the use case for the sake of mentioning.”
The second prong includes looking “for new ways of doing business, whether a new business model or new revenue streams, by bringing together multiple entities in what we call security ecosystems that could deliver [significant] value,” Srinivasan said. “That might involve collaborative effort in terms of bringing the parties together, as well as investing on platforms that will enable such ecosystems to operate.” he added.
TCS has seen accounts of success in the fields of aviation and digital identity regarding this ecosystem category focus, Srinivasan noted. The TCS blockchain leader, however, said he could not provide specific involved players quite yet.
Srinivasan noted TCS has “solutions” and “services” for its enterprise prong. “Services range from advisory all the way through to implementation and solutions, and solution prototypes that we could tailor/customize based on some of the traction we have seen in the market,” he added. TCS is also aiming its attention toward constructing platforms applicable for the second area of focus mentioned.