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.
Investments and Innovation
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).
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