Infosys unveils blockchain-powered apps in 3 verticals

Software major Infosys on Wednesday launched blockchain-powered distributed applications (apps) for government services, insurers and supply chain management verticals.

"The applications are designed as ready-to-subscribe business networks to ensure quick deployment, inter-operability across disparate systems of value chain stakeholders and cases involving analytics and IoT (Internet of Things)," the-city based IT firm said in a statement.

A blockchain is a list of records, called blocks, that are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp and transaction data.

"Our applications are equipped with predictive RoI (return on investment) analytics for business investments that can be tailored to meet industry-specific needs," Infosys said in the statement.

Global enterprises can capitalise on blockchain's benefits of trust, immutability, and transparency to develop an inter-organisational conduit for strengthening their core business processes across multiple value chain partners having disparate IT systems, it said.

The supply chain application leverages the blockchain platform to offer solutions for inbound/outbound logistics and distribution activities.

"The application can be integrated with the systems and IoT devices while ensuring 24x7 transaction security between stakeholders within a supply chain," Infosys said.

The government services application enables state-run organisations to establish inter-departmental interaction, collaboration, data sharing, network transparency and defined workflows - to fulfil citizen-centric service requests, through a single window.

"Our insurance application is designed to aid insurance firms in policy administration, claims handling, multi-party negotiation, usage-based policy pricing and parametric insurance activities," the statement added.

The modular, scalable and customisable application can be integrated with the enterprise systems and IoT networks.