Indian IT companies shift focus towards Bitcoin blockchain

Several Indian software services providers and IT consulting companies have shifted their focus of investments to Bitcoin’s blockchain technology. They have begun to explore its use cases, and the potential implementation of the blockchain technology in their day-to-day operations.

While bank transfers and settlement of payments normally take three days, to even weeks, blockchain-based payment verification systems secured by multi-signature technology take less than 10 minutes, while guaranteeing top-tier security standards.

Currently, many use cases of the bitcoin blockchain are being explored and adapted by financial institutions and multinational tech corporations. Indian IT consulting companies such as Cognizant are most likely to implement multi-signature biometric data-based system technologies, which could be integrated within the company’s employee payout system to support its clients in the financial sector.