Infosys Expands Blockchain Development in Ireland

News and Analysis

Indian technology company Infosys has stated it has intentions to create 250 jobs in the Republic of Ireland seeking to develop financial innovations, including the blockchain technology.

A new expansion plan by Infosys will include new jobs at the company’s first dedicated, product-centric research and development lab outside India in its endeavor to expand operations in Ireland. The company notes that 95 jobs will be added to the facility while a second Irish facility is expected to gain 155 new jobs.

The R&D center is specifically positioned to focus on Fintech research and development. The center will embrace an open innovation model, according to a press release by the Infosys. Furthermore, the center aims to bring together customers, technology partners, academic institutions at the very preliminary stages of blockchain technology.

The software services giant was among the first visionaries in the technological sector to officially announce its interest towards the blockchain. Back then only a few other companies were considering a possibility of impletenting the financial innovation.

The company is renowned for its financial software dubbed Finacle, the newest version of which may implement blockchain technology. Other services provided by Infosys include various outsourcing services and consulting activities.

According to the company, it spends over twenty per cent of its income for R&D works.

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