[2015-06-24] Livemint: Indian IT firms eye technology behind Bitcoin

Indian IT firms eye technology behind Bitcoin for disruptive value

http://www.livemint.com/Companies/9bfMN9evtiDSsJZaq16w8M/Indian-IT-firms-eye-technology-behind-Bitcoin-for-disruptive.html

Software services providers Tata Consultancy Services Ltd (TCS), Infosys Ltd and Cognizant Technology Solutions Corp. have boosted investment in so-called blockchain technology and started to look at ways to build applications around it.

Blockchain is essentially an electronic system which is currently being used by crypto currencies, including Bitcoin and Ripple, and helps in authenticating transactions.

The move by the information technology (IT) companies comes at a time when banks and other financial firms—their customers—are looking at the use of disruptive technology to cut settlement times and bring down costs tied to international payments.

TCS, Infy and CTS! All the biggies seem to be involved.