The Times of India: Cognizant’s Senior Vice President of Banking and Financial Services Says There is no Evidence yet of Vulnerability in the Blockchain Protocol

Bitcoins are just one of the many applications of the blockchain technology, says Jaideep Poondir. “Bitcoins are being watched closely because of volatility in its value and instances of some virtual currency exchanges failing. So far, there has been no evidence of vulnerability in the blockchain protocol that can deter organizations from experimenting with its myriad applications.”

He adds, “We need to understand that blockchain is still at a nascent stage. As it evolves, all participants will have to collectively address any shortcomings.”

The Times of India notes that Cognizant, which is actively building blockchain prototypes for the financial services industry at its Pune lab, has recently engaged with Tokyo-based Mizuho Financial Group for a blockchain solution for secure record-keeping of documents among Mizuho’s group companies. “The IT major is also engaged with several banking clients for co-innovation around potential blockchain opportunities,” the paper writes.

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