Accenture leads firms in assessment for blockchain services

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Professional services company Accenture was among the firms assessed by Everest Group as most capable of delivering blockchain solutions successfully.

A press release cited Everest’s ‘Blockchain Services PEAK Matrix Assessment 2019: Race to Make Enterprise Blockchain Real’ report, first made available last November, in which Accenture, along with IBM, Infosys, Tata Consultancy Services (TCS), Wipro, and NTT Data, were judged ‘leaders’ in the blockchain industry.

Among Accenture’s strengths mentioned were its investments in research that have led to patents, partnerships with other companies, open-source contributions, its use of resources for various applications of blockchain technology, and the successful delivery of services.

Accenture Managing Director and Global Blockchain Lead David Treat said, “We have maintained a strong focus on where real value can be created with Blockchain technology and appreciate this recognition of our vision and pragmatic approach to helping clients achieve large scale, end-to-end business transformation.”

Everest Practice Director Ronak Doshi was quoted as saying, “Investments in research leading to patents, studios for rapid prototyping, geographically distributed innovation labs, talent, partnerships, open source contribution, and consortia efforts have helped Accenture to differentiate in the blockchain services market.”

Accenture foresees blockchain applications revolutionizing health care, banking, supply chains, and tech-based relationships, among other areas. It has also found that 60% of executives believe blockchain and smart contracts will be critical to their organizations within three years.

IBM said that the Everest report highlighted the tech giant’s investments and collaborations, as well as its research and patents. However, the report also noted client perception that IBM may be focused primarily on its Hyperledger project. “IBM needs to showcase their ability to support a wide set of blockchain technologies,” the report read, as quoted by IBM.

TCS Blockchain Services Global Head Lakshminarasimhan Srinivasan said of the company’s inclusion in the report, “Enterprises are moving from competition and battle for control of resources to an era of abundance, purpose-driven ecosystems, and shared control. Blockchain technology is a critical enabler of this shift… This recognition from an independent, third party researcher, is a validation of our vision and thought-leadership, investments, and capabilities in this space, specifically our comprehensive services strategy.”

TCS has released Quartz Blockchain solutions to help financial services firms use blockchain to reduce transaction costs. It has also invested in blockchain solutions related to digital identity, track and trace, assets monetization, and assets in common, for a variety of industries.