VirtusaPolaris recognized in Gartner Market Guide for Blockchain Consulting and Proof-of-Concept Development Services

  • VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology (IT) consulting and outsourcing services, has been included as a representative vendor in Gartner’s Market Guide for Blockchain Consulting and Proof-of-Concept Development Services.
  • Also, our lab works with cutting-edge technology firms to address the gaps in blockchain technology like privacy, scalability, etc.”

    Leveraging its 25 years of experience and expertise in the banking and financial services industry, VirtusaPolaris has been helping banks and financial institutions accelerate their innovation process and effectively meet the challenges of digital disruption.

  • For more information and to access the report (subscription required): www.gartner.com/ the market-facing brand reflecting the combined strengths of Virtusa Corporation and Polaris Consulting & Services, Ltd. is a global provider of information technology (IT) consulting and outsourcing services that accelerate business outcomes for Global 2000 companies and leading software vendors in banking and financial services, insurance, healthcare, telecommunications, technology, media and solutions address the CXOs’ dual challenge of growing revenues while improving IT cost efficiencies.
  • VirtusaPolaris’ digital services leverage innovative new technologies to reimagine the customer experience, increasing retention and creating lasting value.
  • VirtusaPolaris delivers services across the IT lifecycle, including consulting, solution design, technology selection, implementation, testing and maintenance & support, including infrastructure support.

VirtusaPolaris, the market-facing brand of Virtusa Corporation and Polaris Consulting & Services, Ltd., and a leading worldwide provider of information technology consulting and outsourcing services, has been included as a representative vendor in Gartner’s Market Guide for Blockchain Consulting and
Continue reading “VirtusaPolaris recognized in Gartner Market Guide for Blockchain Consulting and Proof-of-Concept Development Services”

Inside the Blockchain Revolution- An Interview with Alex Tapscott

An interview with @alextapscot on @huffpost: Inside the #blockchain revolution. #fintech

  • Just as the cloud hype panned out almost a decade ago (public, private, hybrid, PaaS, SaaS etc.), subsets of this technology with terms such as Hyperledger, The Ledger of Things and many more phrases are emerging.
  • As it happens, at the same time Don Tapscott (my co-author) was running a multi-million dollar research project investigating new ways of solving global problems using technology and one of the things he wanted to understand more was bitcoin as digital currency was full of intrigue.
  • To hack the bitcoin Blockchain would require an attacker to take over the whole network and rewrite the history of commerce in that Blockchain in a very short window across many computers – a very challenging task.
  • Furthermore I think there are lots of Blockchain use cases that do not require a full distributed permissionless network like Bitcoin and would be better served with something more “enterprise grade”

    Alex: “The best technologies are invisible.

  • Right now the governance network for Blockchain technology is nascent.

If I had to pick the hottest tech trend this year, it would undoubtedly be Blockchain. The promise of Blockchain technology is huge.
There’s a lot…
Continue reading “Inside the Blockchain Revolution- An Interview with Alex Tapscott”

PwC And Bitt Partner Up To Improve Bitcoin and Blockchain Presence In The Caribbean ⋆ Epeak . Independent news and blogs

  • This includes advice related to advancements of Bitt services, including the use of bitcoin and other digital currencies.
  • Moreover, the Caribbean has been introduced to convenient bitcoin wallet services.
  • PwC Partner Oliver Jordan commented on this MOU as follows:

    “We have agreed to work alongside Bitt on future institutional blockchain technology implementations by, for example, central banks, commercial banks and government institutions throughout the region because not only does blockchain offer the promise of cost reduction and efficiency, but it could also enable revenue growth, and higher-quality service.

  • Across the PwC Global network, we have already seen enormous potential for blockchain to deliver substantial value to financial services – and we intend to continue to lead the way across the financial services landscape in the Caribbean.”
  • Additionally, there is tremendous potential for blockchain technology in the financial services industry.

The future of bitcoin is looking bright in Barbados right now. Bitt, a local fintech company, signed a memorandum of understanding with PwC. As a result, b
Continue reading “PwC And Bitt Partner Up To Improve Bitcoin and Blockchain Presence In The Caribbean ⋆ Epeak . Independent news and blogs”

Inside the Blockchain Revolution- An Interview with Alex Tapscott

  • Just as the cloud hype panned out almost a decade ago (public, private, hybrid, PaaS, SaaS etc.), subsets of this technology with terms such as Hyperledger, The Ledger of Things and many more phrases are emerging.
  • As it happens, at the same time Don Tapscott (my co-author) was running a multi-million dollar research project investigating new ways of solving global problems using technology and one of the things he wanted to understand more was bitcoin as digital currency was full of intrigue.
  • To hack the bitcoin Blockchain would require an attacker to take over the whole network and rewrite the history of commerce in that Blockchain in a very short window across many computers – a very challenging task.
  • Furthermore I think there are lots of Blockchain use cases that do not require a full distributed permissionless network like Bitcoin and would be better served with something more “enterprise grade”

    Alex: “The best technologies are invisible.

  • Right now the governance network for Blockchain technology is nascent.

If I had to pick the hottest tech trend this year, it would undoubtedly be Blockchain. The promise of Blockchain technology is huge.
There’s a lot…
Continue reading “Inside the Blockchain Revolution- An Interview with Alex Tapscott”

Hi-tech financial firms flee UK amid doubts over Brexit

  • An exodus of “fintech” companies from Britain has begun, the chief executive of a leading firm has said, dashing the government’s hopes of building the UK into a world leader for the industry.
  • Every reasonably-sized company in the flourishing financial technology sector – involving e-lending, money transfers and the banking markets – is now actively looking at moving staff and investment out of the country because of the uncertainty caused by Brexit, it is claimed.
  • Simon Black, chief executive of PPRO Group, reputedly one of the fastest-growing fintech businesses in Europe, said his firm was now starting an operation in Luxembourg because of question marks over whether UK-based companies would still be able to trade in the rest of the EU under current “passport” rules which are granted to all member states.
  • Black said the industry could not wait for the outcome of Brexit negotiations, so investment that could have been made in the UK was being diverted overseas.
  • Liberal Democrat Treasury spokesman Susan Kramer said: “George Osborne promised to make London the centre for fintech but under this Conservative Brexit government it will only be job centres that see any dramatic growth.

Leading ‘fintech’ player says ‘the exodus is beginning’ as members of £6bn industry start seeking other bases in Europe
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Five Myths About the Blockchain Revolution

  • The financial services industry can transform itself around blockchain technology, if it can find the leadership to do it.
  • Permissioned blockchains use distributed ledger technology without having a digital currency attached.
  • Blockchains can disrupt the disrupters like Uber.
  • (Read an excerpt of our book, Blockchain Revolution, .
  • At first blush, these private and permissioned blockchains appear to have a few clear advantages.

Blockchain technology is the most important invention in computing in a generation because, for the first time in human history, we have at our disposal a truly native digital medium for peer-to-peer value exchange. Blockchain, a vast global platform based on a distributed ledger, establishes the rules — in the form of computations and heavy duty encryption — that enable two or more parties to transact or do business without needing a third party to establish trust.
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Is Blockchain The Next Tech Revolution?

  • A long slate of use cases have been found in numerous technologies, and the highest potential lies in banking and financial services.
  • Not only is there a much lesser chance of fraud in this technology, the mechanism to correct fraud-if there is such a case-will be far more transparent than ever before.
  • The role of intermediary organisations The intermediary organisations play the role of being inundated with the banking and finance industry.
  • Despite the fact that the banking & financial services industry has made the most noise and are the most excited, there is a long list of industries who are now realising the potential.
  • Need for security There is another major challenge facing the banking and finance industry, being none other than security.


Amongst various circles discussing new technologies these days the subject of blockchain will most definitely be the hottest topic of all. With 2017 just around the corner, blockchain technology has already been listed amongst the top in many different upcoming tech surveys. Despite the fact that the banking & financial services industry has made the most noise and are the most excited, there is a long list of industries who are now realising the potential. As blockchain experts are forecasting, other industries may actually accelerate their process far faster, as they are free of the strictness of regulatory existing in the banking and finance industry. They also don’t have to worry about the risk aversion factor involved in banking and finance.
Will blockchain change everything?
Many experts believe so. There is a long list of gurus out there who are also voicing their opinion about blockchains being the next revolution after the Internet. Every individual participating in a survey taken in a LinkedIn blockchain group survey voiced strong words about their belief in blockchain being here to stay. Furthermore, they are also very confident that this new technology will enormously impact how business is done. Many are already voicing opinions about blockchain engulfing all of our lives, like it or not. It is true that few have taken the steps necessary to actually operationalise the true sense of blockchain technology, focus amongst every single IT service, technology/business consulting firms are shifting, and they are establishing the capacity and foothold needed in this environment. All these companies are placing heavy resources, minds and manpower on blockchain uses cases. As a result, a long slate of use cases have been found in numerous technologies, and the highest potential lies in banking and financial services.
Business imperative
As is the case with every other new and trending technology, any new initiative in the tech world endures only if there is a business necessity and motivation empowering it. Otherwise, it will fade into the darkness no matter how innovative and revolutionary the technology may be. The question remains on what is the motivating and driving force behind blockchain? As we speak the banking and financial services industry is leading the pack in its interest in blockchain technology.
Reason of success
Like many others involved in the tech industry, the banking and finance industry has been successful and received its revenue thanks to their access to data. And of course, this information is not a privilege enjoyed by all those who may be involved. Lack of transparency is the main reason behind this issue. Many believe the world of digitisation is missioned to establish the needed transparency, amongst all those who may be involved, and the method is providing the relevant data equally available. This transparency is expected to be catapulted to a new level by blockchain. All participants in this regard, including banks, competitors, customers and regulators will enjoy access to the same data provided by distributed ledgers. As far as the banking and finance industry is concerned, the two fields where there is a huge lack of transparency, even as we speak, is lending and payments. Due to this lack of transparency, the banks are able to continue making a huge portion of their earnings from the two businesses mentioned above. Blockchain technology will be brought into the mainstream due to the need for transparency seen in customers.
Need for security
There is yet another major challenge facing the banking and finance industry, being none other than security. When people think about their money they are usually very paranoid about the issue of security. A bank may enjoy the highest possible security accommodations, on the planet, hardware and software, one can never guarantee 100% there will not be any breach of security. And once a bank is breached, all fingers are pointed at its direction and they are expected to correct the mayhem immediately. Here is where people come to realise the banks practice very little transparency. However, blockchain technology will enjoy numerous books of authentic records. As a result, not only is there a much lesser chance of fraud in this technology, the mechanism to correct fraud-if there is such a case-will be far more transparent than ever before.
The role of intermediary organisations
The intermediary organisations play the role of being inundated with the banking and finance industry. Exchanges have a major part, and thus any process will be much more painstaking, being any kind of settlement plan; from cash, shares in the stock market or a commodity of any kind. Removing intermediaries is also a capability provided in blockchain technology. The least that blockchain can do is to downgrade the role they play to a minimum, and therefore accelerate any process of settlement that may be in consideration. Such settlements have the potential of becoming direct in relations.
Generally speaking, the imperatives of this industry are pushing all parties involved to adopt a different approach into a more open, collaborated and distributed world of banking.
Final thoughts
Ignoring such a market trend will no longer be an option for banks, from the smallest to the largest. The more proactive they will become the sooner they succumb to this harsh reality. This will bring home a much longer list of innovations that can be used to differentiate themselves. This is a necessity in the new business scenario, and it renders more chances of opening eyes in a new spring of such technology advances. Those attempting to stay in the past and resist this eventual development will go extinct.
Image: blockchaintechnologies.com
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