East Brunswick, New Jersey, USA and Bangalore, India – February 20, 2018:
Wipro Limited (NYSE:WIT, BSE: 507685, NSE: WIPRO), a leading global information technology, consulting and business process services company, today announced that it has been positioned in the ‘Winner's Circle’ of Enterprise Blockchain service providers by HfS Research in the market study ‘HfS Blueprint Report on Enterprise Blockchain Services 2017’. This report was authored by Saurabh Gupta, Chief Strategy Officer, HfS Research.
In the Enterprise Blockchain Services 2017 Report, HfS evaluated the blockchain capabilities of 21 service providers across the value chain of Strategic Advisory, Prototype Development, Production build and System Integration. The 'Winner's Circle' of the HfS Blueprint represents service providers who excel at both execution and innovation dimensions. The report states that Wipro is a leading blockchain services provider with scale, robust partnership ecosystem, in-house tools and live client engagements.
Phil Fersht, CEO, HfS Research said, “The blockchain momentum is growing across the globe and there is an increasing market demand from enterprises to partner with services firms offering blockchain solutions and expertise, to help them on their blockchain journey. This report is aimed at providing a comprehensive analysis and assessment of the blockchain services landscape to interested enterprise buyers. It also analyzes the relative adoption of blockchain services across all major industries and emerging use cases. On behalf of HfS, I would like to offer our congratulations to Wipro for being positioned in the Winners Circle of the HfS Blueprint Report on Enterprise Blockchain Services, 2017, where our client-side research showed that Wipro’s blockchain offerings are well aligned to the evolving market and customer needs. We learned about Wipro's investments in building a comprehensive blockchain ecosystem, its focus on developing a blockchain community through its crowd learning and crowd sourcing platforms like TopCoder, and the innovative blockchain work being performed for several global organizations. We believe the firm is well positioned to drive high-impact transformational business outcomes for its customers on blockchain, as the industry matures.”
“Wipro’s commitment to blockchain, the use case coverage across industries such as Banking, Financial Services, Insurance, Energy & Utilities, Healthcare & Life Sciences, Consumer & Retail, Manufacturing & Technology, Communications, Government, its expertise and experience across the value chain, referencable clients, the robustness of its ecosystem and ability to drive adoption beyond Proof of Concept (PoC), were instrumental in its position in the Winner’s Circle,” added Saurabh Gupta, Chief Strategy Officer, HfS Research.
“We are delighted to be positioned in the Winner’s Circle of HfS first Blueprint report on Enterprise Blockchain Services. We are investing in a comprehensive value chain for blockchain including membership to industry consortia like Hyperledger and Enterprise Ethereum Alliance, strategic collaborations with our enterprise and niche partner ecosystem, alliances with start-ups and academia in order to be the partner of choice for clients in their blockchain journey. HfS has recognized our commitment and focus on blockchain, and our innovation and execution capabilities to deliver best-in-class blockchain solutions and services for customers. We look forward to being strategic partners to our clients in their blockchain adoption journey,” said Krishnakumar N Menon, Vice President, Service Transformation, Wipro Limited.
Key findings from the ‘HfS Blueprint Report on Enterprise Blockchain Services 2017’ are given below:
- Enterprise blockchain services are geared to become a US $1 billion market by 2018
- Blockchain services will create a disruptive impact, potentially as significant as the internet itself, in the long run
- The market is witnessing an explosion in blockchain PoCs and pilots, but in-production, solutions are few and far between
- Blockchain (like any nascent technology) is going through the “90-9-1” adoption challenges
- Adoption of blockchain is a global phenomenon
- Ethereum and Hyperledger Fabric are emerging as the blockchain frameworks of choice for enterprise blockchain initiatives
- Blockchain initiatives are starting to get woven with other emerging technologies, especially IoT and AI
- Financial services lead blockchain adoption; however, credible use cases across almost all industries are emerging
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About Wipro Limited
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO) is a leading global information technology, consulting and business process services company. We harness the power of cognitive computing, hyper-automation, robotics, cloud, analytics and emerging technologies to help our clients adapt to the digital world and make them successful. A company recognized globally for its comprehensive portfolio of services, strong commitment to sustainability and good corporate citizenship, we have over 160,000 dedicated employees serving clients across six continents. Together, we discover ideas and connect the dots to build a better and a bold new future.
Forward-looking and Cautionary Statements
Certain statements in this release concerning our future growth prospects are forward-looking statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in our earnings, revenue and profits, our ability to generate and manage growth, intense competition in IT services, our ability to maintain our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which we make strategic investments, withdrawal of fiscal governmental incentives, political instability, war, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property, and general economic conditions affecting our business and industry. Additional risks that could affect our future operating results are more fully described in our filings with the United States Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in the company’s filings with the Securities and Exchange Commission and our reports to shareholders. We do not undertake to update any forward-looking statement that may be made from time to time by us or on our behalf.