This week, technology and consulting giant Infosys announced its subsidiary EdgeVerve Systems launched a blockchain offering for banks called the EdgeVerve Blockchain Framework.
The new framework is a distributed, permissioned ledger that empowers banks to offer a variety of blockchain-based applications, including:
- Asset transfer
- Analytics
- Administrative
- Security
- Smart contracts
The company’s promotional video describes its plans for the new solution:
The Blockchain Framework has three main attributes:
- Distributed and permissioned: minimizes transaction costs and improves data sharing in a secure environment
- Asset agnostic: allows businesses to store and transfer a variety of assets on a single network
- Extensible: an API layer lets banks develop and deploy their own blockchain solutions
Infosys was founded in 1981 and serves 450 million customers in 84 countries. At FinovateEurope 2016, the Bangalore-based company debuted Finacle Youth Banking. At FinDEVr New York earlier this year the company’s subsidiary, EdgeVerve, presented how REST APIs are changing core banking.