TCS expects $200 million from blockchain business in FY19

Tata Consultancy Services Ltd (TCS) said it expects to generate at least $200 million in annual revenue from its blockchain practice. It said 2018-19 will be the year of blockchain adoption by the largest banks and stock exchanges

TCS is making itself future-proof by investing and monetising from newer technologies, it was revealed. Image source: Reuters

Tata Consultancy Services Ltd (TCS) said it expects to generate at least $200 million in annual revenue from its blockchain practice. It said 2018-19 will be the year of blockchain adoption by the largest banks and stock exchanges. TCS is making itself future-proof by investing and monetising from newer technologies, it was revealed. TCS’s ability to scale up blockchain reflects the company’s overall strategy to build rather than buy talent and technology in the new areas, the company said.

“I believe this year will be a year of Blockchain,” Mint quoted TCS’s chief operating officer N. Ganapathy Subramaniam as saying. “What I mean by this is that until now we have seen a lot of proof of concepts but over the next 12 months, we’ll see a lot of projects of significance, which will set us up for a greater momentum in the coming years."

Subramaniam, however, declined to quantify for now the business generated by individual digital components. Subramaniam said the company’s blockchain practice can become a $200-300 million business by the end of March 2019.

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