TCS Chief Executive Bets Big On Block-Chain Technology

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.

Chandrasekaran feels that there is a lot of excitement about block-chain in the industry and the company is trying to see how it can effectively use block-chain to bring about a real-time behaviour between (multiple) nodes in a financial process.

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.