Blockchain technology consortium Accenture is leveraging all forms of innovations in Blockchain or distributed ledger technology (DLT) in its bid to make the technology feasible for enterprise information technology (IT) application. The company is specifically focusing on security issues to prepare for the widespread adoption of Blockchain technology.
According to Accenture’s Financial Services Industry Blockchain managing director David Treat, the company is committed to making Blockchain a reality for their clients.
“Accenture is committed to supporting these efforts by leveraging our expertise across the company – from regulation to innovation – to make Blockchain a reality for our clients.”
Previous Accenture Blockchain initiatives
Accenture has launched several Blockchain-based projects in the past. In early 2017, the company has joined the leading global Blockchain trade association called Chamber of Digital Commerce (CDC). The association aims to help raise awareness, promote, and facilitate the adoption of Blockchain-powered technologies worldwide.
In February 2017, Accenture has introduced its new Blockchain security hardware solution. The company also partnered with Thales e-Security and its hardware security modules (HSM) to develop a Hyperledger Fabric-based patent-pending solution for the seamless integration of Blockchain technology with industrial-grade security systems.
In late September 2017, Accenture has obtained a patent in relation to its work on Editable Blockchain technology.
According to Treat, their security solution offers a simpler and more flexible standard to link Blockchain platforms with the leading HSMs.
“The opportunity to benefit from Blockchain technology within sectors like financial services and health care depends on an ability to protect digital keys using conventional standards of security.
While there have been bespoke Blockchain integrations with HSMs before, this solution offers a simpler and more flexible standard to connect Blockchain platforms with the leading HSMs. We are committed to delivering these types of real-world innovations that will serve as the stepping stones to make Blockchain technology a reality for large-scale enterprises.”
Accenture is not the only corporation looking into securing their lead in rolling out the commercial applications of Blockchain. In fact, Oracle has also bid its race towards the forefront of Blockchain by releasing its Blockchain-based cloud technology.