More and more companies around the world are starting to look into the concept of exploring blockchain technology for their own purposes. Other than the financial sector, the blockchain could offer a plethora of advantages to software developers. EPAM Systems, a company, well known for their software engineering solutions, created a dedicated team to embrace blockchain technology. Who knows what type of software solutions we can expect in the future?
EPAM Systems Team Explores Blockchain Technology
There is no denying the blockchain offers plenty of potential to people all over the world, although most of the real-life use cases have yet to be uncovered. As more people focus their attention on exploring what this innovative technology can do, coming up with new use cases should become relatively easier over time.
EPAM Systems, a publicly traded company on the New York Stock Exchange, is focusing all of their attention on product development and software engineering solutions. It only seems normal for such a big company to take an interest in blockchain technology, as distributed ledgers can play a significant role in the future development of software solutions.
By dedicating part of their workforce to exclusively explore blockchain technology, EPAM Systems is taking a major leap forward as an industry leader. Depending on how distributed ledgers are implemented in their solutions, EPAM Systems could be one of the first companies to shift from distributed computing to creating distributed applications.
EPAM Systems Co-Head of Global Business Balazs Fejes stated:
“This technology may become a differentiating factor for many companies, enabling them to process whatever transactions they are involved in with more privacy, speed and efficiency. We are committed to helping our clients explore the benefits of blockchain to help them stay ahead of the potential disruptions to their respective industries.”
Most of the focus regarding blockchain technology development are in the financial sector, which is the main use case for distributed ledgers. EPAM Systems wants to look at things from a broader perspective, as the blockchain can be adopted in a multitude of different ways. Disrupting the financial sector is just the first step along the way of unlocking the real potential of this technology.
Transitioning To Distributed Applications
Keeping in mind how EPAM Systems offers substantial engineering capacities, it will be interesting to see how the company can help push blockchain development and innovation to new levels. While there are tons of companies working with distributed ledger technology already, most of the development efforts are comprised of individual coders or smaller teams of developers.
As the EPAM team is much larger, they can focus their attention on different areas, such as trusted computing, smart contracts, and online gambling. Especially this latter industry is an interesting choice, as there has been a correlation between Bitcoin, the blockchain, and online gambling from day one.
Unlike what most people assume, distributed ledgers can make a major impact across various sectors. With the help of EPAM Systems, the blockchain could very well make its way to industries such as insurance and retail. With clients in over 26 countries around the world, EPAM Systems has a global reach and holds all the right cards to bring blockchain technology to your country in the future.