Infosys Developing Blockchain Research and Jobs

December 15, 2015 By: Mike Dautner

Indian software and IT services powerhouse Infosys is beginning the opening stages of a major move into the blockchain research and development field.

Blockchain, one of the underlining technologies behind bitcoin, has gained the attention of major players across the globe due to its robust and innovative methods of security and standardization. In a surprise move, the Indian company will outsource the project outside of the country to Ireland, where it will provide 155 new jobs.

The R&D project announced by Infosys focuses on financial technology, specifically blockchain technology. Infosys believes blockchain technology can be used to push innovation in the fintech scene while also promoting standardization.

The Indian firm believes fintech through blockchain technology can bring together customers, academia and industry together as one collective body. Earlier in the year Infosys announced that it would consider using blockchain technology within one of its main banking services, Finacle.

The new R&D center will be founded in Ireland and provide 155 new jobs. Infosys already has one facility in Ireland that utilizes 250 workers for a separate project. The firm’s subsidiary will function as the hub for innovation in Ireland, with members of the subsidiary touting Ireland as a hub for creative thinking and product-focused research.

The project has already received the approval of the Department of Jobs in Ireland, while also receiving interest from other firms in the industry.