Blockchain or distributed ledger technology (DLT) is rapidly emerging as one of the most disruptive technologies in recent times. Organizations globally and across various industry domains are exploring ways to harness business value from improved trust and transparency, increased collaboration, elimination of data redundancies, reduced risks and enhanced agility, all of which are addressed by blockchain. 

How can organizations overcome current adoption barriers like the lack of awareness of the technology, the need to refine and hone relevant skillsets, and facilitate quick absorption of benefits for existing systems?  

Smart Solutions is a set of comprehensive solutions across various industry domains, with business and domain aware ‘Smart Contracts’ that help automate processing on the blockchain platform. A Smart Contract is a ‘self-executable’ software that is stored on the ledger and triggered either because of specific events occurring within it or from pre-configured rules that are programmed into these contracts. Participants can provide, consume and instruct these transactions on the ledger based on their role and privileges. Smart Solutions are designed as a combination of on-chain services deployed on blockchain and off-chain services, residing on traditional databases or files, thus ensuring that only business processes well suited for blockchain are deployed on-chain. 

Some of the readily available Smart Solutions include Rewards Points, Contract Authoring, Settlements, Announcements, Crypto Services, Loan Securitization, Facultative Reinsurance, Cross Border Remittances, Markets (for Tokenized assets), Contract Performance Monitoring, Resource Management and KYC. These solutions can also be seamlessly integrated within the existing application landscape, thus delivering organizations the agility to launch new services or automate existing services using blockchain technology.

Benefits

  • Availability of ready business solutions across various domains
  • Quicker time-to-market
  • State-of-the-art features that can be seamlessly integrated with existing systems using Gateway
  • Support for Cloud/On Premise/Hybrid deployment models
  • Support for data privacy by design

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