Blockchain technology has been of great interest to many different companies. It is evident this form of technology will make a decent impact in the next decade or so. Tieto is the latest company to successfully launch a new unit focus on this technology. The Blockchain Solutions business unit will be of great interest to clients and consumers. It is one of the many different DLT-oriented initiative in the world today.

It is always interesting to keep an eye on new blockchain ventures. Everyone wants to be part of this industry. That is much easier said than done, though. More specifically, organizing industries to focus on this technology has not been easy. This is where Tieto comes into the picture. Their new Blockchain Solutions business unit will focus on technology consulting and full stack services. All of these services will be of great interest to clients of Tieto.

Tieto Focuses on Proper Blockchain Support

Moreover, there is a lot of hype surrounding the blockchain right now. This is both a blessing and a curse at the same time. With so much hype, it becomes difficult to cull the wheat from the chaff. Tieto aims to become a big player in this regard, as they acknowledge there is a growing need for these types of services. The initial focus will be on digital identity, personal data, supply chain, and digital ownership. An interesting concept that will certainly be appreciated by a lot of their clients.

Tieto’s Markus Hautala comments on this development as follows:

“We are very excited about the collaboration. Our industry expertise, combined with Evernym´s experience from creating applications that enable people to securely control their own identity data opens up vast opportunities for our customers. Choosing when, with whom and how much people and businesses wish to reveal in any given exchange is key for building future proof solutions that also meet privacy related demands and regulations.”

With the growing focus on blockchain technology, a lot of changes are on the horizon. It will be interesting to see which companies can properly embrace blockchain. The hype is also a big pitfall, as there are a lot of projects that will fail. Not every business venture requires a ledger either that much is rather evident. Numerous opportunities are waiting to be explored in every industry one can think. However, not every concept is viable, and only time will tell how things play out.

Header image courtesy of Shutterstock


About Author

JP Buntinx is a 30-year old FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he is working to achieve the same level of respect in the FinTech sector.

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