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Cognizant in the News

Irish Tech News: Cognizant’s Vice President and Head of UK & Ireland Says the Benefits Blockchain Offers are Substantial and Companies Cannot Afford to Wait Any Longer

“The next 12-18 months will be extremely important for companies looking to develop their blockchain strategies and it is vital that they seize the opportunity to ensure they can fully reap its benefits,” says Vivek Daga. “For those that still may be mulling over adoption, now is the time to take the plunge.” Excerpts:

“The potential of blockchain in financial services is particularly huge. For banks, the enhanced security provided through cryptography technology and the tamper-proof design is an enormous draw.

Blockchain’s potential is not limited to the financial services sector. Imagine your travel insurance policy being ‘activated’ at the exact moment a cruise ticket is purchased, and ‘de-activated’ when the ship docks at its destination.

The use of blockchain in the supply chain (and more widely, manufacturing) could have potentially helped to provide a solution for the recent Dutch egg contamination, as well as any other worries surrounding counterfeit goods that might arise.

Blockchain can quickly and efficiently provide trust in the identity of any partner in the relationship.

Developing a sustainable blockchain strategy now could be the difference between gaining an enormous competitive edge, or risk being left behind as the industry moves on without them.

The benefits that blockchain can offer are too substantial, and companies cannot afford to wait any longer.”

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