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TCS Chief Executive Bets Big On Block-Chain Technology
Chandrasekaran speaks during a news conference in Mumbai. Photo credit: PUNIT PARANJPE/AFP/GettyImages
India's top information technology (IT) services company, Tata Consultancy Services (TCS), is betting big on block-chain technology.
Chief executive N Chandrasekaran said TCS has been working on this for more than one-and-half years. "We have active discussions with 40 banks globally. Today, we have many solutions, proof of concepts, pilots… more than 100 such demos," he said.
On the issue of IT industry growth and slowing technology spending, he said, the digital transformation is real and there is no truth in claims that tech funding would come down.
He sounded bullish on finances and availability of talent. TCS has a very strong balance sheet, with substantial cash flow for every quarter. The company is one of the largest recruiters in the US, the UK, Canada, Australia, Europe and Latin America. "We are running one of the largest upscaling programmes undertaken by anybody," Chandrasekaran said.
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