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.
Investments and Innovation
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.
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