Blockchain Lab (2024)

About us

The PwC India Blockchain Lab is a center of innovation, ideation and extensive research that serves to empower organisations and set the stage for future growth by leveraging the disruptive power of distributed ledger technology.

Since its inception in 2017, it has been at the forefront of ideating, designing and developing innovative solutions using blockchain technology and has been making significant contributions to the advancement of the technology both globally and in India.

The team comprises of highly experienced blockchain certified professionals, business analysts and software engineering professionals who have successfully delivered multiple projects across various industries, including public sector, cyber forensics, financial services, supply chain management, and healthcare. The lab's work is a testament to the power of blockchain and its potential to revolutionize various industries in the future.

Our key propositions

While the internet changed the way we communicate, blockchain revolutionised how we exchange value between multiple untrusted parties. The Blockchain Lab draws on the components of blockchain such as cryptography, consensus and smart contracts to help your organisation in building a blockchain application, end­-to-­end.

  • ASSURE
  • COLLABORATE
  • TRANSFORM

Blockchain Lab (4)

Leader and trusted SME

Being a member of a global blockchain community with an access to 180+ territories and having served multiple geographies and sectors, Blockchain lab is equipped to play the role of a trusted SME for their clients in reviewing their business model, doing course correction and make recommendations for the best practices in their technology roadmap.

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End-to-end partnership

Blockchain labs works closely with its clients as one team in building solutions through the creation of a blockchain ecosystem in alliance with technology and cloud service providers to ensure an effective Go-To-Market strategy.

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Change for the better

Blockchain lab will help clients not only in creating the roadmap, but also building customized next-generation blockchain solutions to help them navigate through their web 3.0 journey.

Our Journey

5+

Years of blockchain consulting

3

Strategic projects delivered

4

Applications in production

10

Proof of concepts

7+

Public sector engagements

2

Assignments with territory firms

6

Accelerators

5

Pilots

6+

years of experience

3

Strategic projects delivered

4

Applications in production

15+

Proof of concepts

7+

Public sector engagements

5+

Assignments with territory firms

6

Accelerators

5

Pilots

Our Capabilities

8

Blockchain SMEs

2

Blockchain architects

2

Business analysts

2

API developers

4

Blockchain developers

8

Blockchain SMEs

2

Blockchain architects

2

Business analysts

2

API developers

4

Blockchain developers

The PwC Advantage

  • Diverse Experience:Our team has a wide range of experience of successfully serving a gamut of industries/sectors through our ready solutions/accelerators/thought leaderships etc.
  • Excellent Client RoI and VoI:Provision of strategy and implementation roadmaps/executions in accordance with best blockchain practices leading to a remarkable Return on Investment and Value on Investment for our clients.
  • Regulatory Understanding:We ensure that all wider regulatory requirements are met, and any potential concerns or restrictions considered. With an in-depth industry and regulatory knowledge helps deliver an effective and robust roadmap for clients.
  • Global Market Reach:Collaboration with network partners increases our mindshare on a global scale and paves way to work in emerging Blockchain trends mitigating regulatory barriers
  • Independent Perspective:As an independent firm we provide a clear and objective perspective on technology options and preferred solutions.
  • Deep Cross-Industry Expertise:We have a diaspora of PwC leaders and teams that cuts across industries and sectors helping us understand our clients and their problems in a comprehensive and holistic manner.

See Also
Insights

Key Sectors catered by us

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Public Sector

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Humanitarian

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Financial Services

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Digital forensics

Blockchain Lab (11)

Healthcare

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Manufacturing

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Automotive

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Retail

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Energy

A glimpse into our customisable offerings – solutions and accelerators

  1. Trace It
  2. Health and Wellness Tracker
  3. Procure-to-pay Solution
  4. Sandbox for creating/managing workflow
  5. Certificate verification on Blockchain

Trace It

Track and trace solution which operates in parallel with existing supply chain management system, and gives end to end traceability

  • End-to-end visibility with real time updates
  • Better demand assessment and inventory planning
  • Prevents losses due to counterfeit or expiring product

Health and Wellness Tracker

Healthcare based solution that can securely store, and process private health data based on health score algorithm.

  • Transparent storage & verification of data
  • Data driven health scoring algorithm
  • Flexible to adapt other use-cases

Procure-to-pay Solution

A procure to pay solution to automate processes, foster trust and bring transparency in the vendor payment system

  • Smart contract enabled vendor payments system
  • Transparent and immutable database

Sandbox for creating/managing workflow

Bringing all parties on a common platform & providing a single source of truth. Agreed workflow is converted into a smart contract and is set to motion.

  • Ensuring trust and transparency
  • Real time tracking and efficient reconciliation
  • Complete audit trail

Certificate verification on Blockchain

Tool for storing and validating certificates. After a certificate is issued, the data is digitized and recorded as an immutable transaction on the blockchain. The certificate data can then be cryprographically verified at real time.

  • Eliminating falsification of documents
  • Increased transparency and security
  • Removing dependency on 3rd party verifiers

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Blockchain Lab (19)

Pawan Kumar S

Partner and Leader, Technology Consulting, PwC India

Email

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Arijit Chakraborti

Partner, Technology Consulting, PwC India

Email

Blockchain Lab (2024)

FAQs

What is blockchain select the best answer? ›

Blockchain is a shared, immutable ledger that facilitates the process of recording transactions and tracking assets in a business network. asset can be tangible (a house, car, cash, land) or intangible (intellectual property, patents, copyrights, branding).

What is the main problem blockchain solves? ›

Blockchain allows uses to control and monetize their own data, with increased privacy. Since blockchain entries cannot be easily tampered with, the potential for fraud from either the client or the company is markedly decreased.

How do verifiers check if a block is valid? ›

On the Bitcoin blockchain, a block is verified by miners, who compete against each other to verify the transactions and solve the hash, which creates another block. On the Ethereum blockchain, a block is validated by randomly selected nodes, which is must faster because there is no competition.

What is the biggest problem with blockchain? ›

Security issues
  • 51% attacks. Blockchain technology designs, for example, differ in architecture. ...
  • Flash loan attacks. The other security problem that blockchain networks face is flash loan attacks. ...
  • Coding loopholes. ...
  • Centralization of information. ...
  • Side-chains: A solution to blockchain's scalability issue.

What is blockchain in 3 words? ›

A blockchain is a distributed database or ledger shared among a computer network's nodes. They are best known for their crucial role in cryptocurrency systems for maintaining a secure and decentralized record of transactions, but they are not limited to cryptocurrency uses.

What is blockchain short answer? ›

Blockchain technology is an advanced database mechanism that allows transparent information sharing within a business network. A blockchain database stores data in blocks that are linked together in a chain.

Why is blockchain not widely used? ›

High costs of implementation

It costs a lot of money to implement blockchain in a company. This capital-intensive investment deters most companies from adopting this technology.

Is blockchain actually useful? ›

Blockchain can also be used to reduce fraud and other trust-related issues in digital ad buying. Blockchain has a wide range of applications in healthcare, including improving payment processing, electronic medical records, provider directories, and data security and exchange.

What is the main goal of blockchain? ›

The purpose of the blockchain is to share information amongst all parties that access it via an application. Access to this ledger in terms of reading and writing may be unrestricted ('permissionless'), or restricted ('permissioned').

How long does it take to mine 1 Bitcoin? ›

How Long Does It Take to Mine 1 Bitcoin? The reward for mining one block is 3.125 bitcoins. It takes the network about 10 minutes to mine one block, so it takes about 10 minutes to mine 3.125 bitcoins.

How much is one block of Bitcoin worth? ›

How much is 1 BLOCKS in USD? Right now, 1 BLOCKS is worth about $0.000069.

Why is Bitcoin block time 10 minutes? ›

Satoshi specifically chose ten minutes as a tradeoff between the first confirmation time and the amount of work wasted due to chain splits. After a block is mined, it takes time for other miners to find out about it, and until then, they are competing against the new block instead of adding to it.

Is blockchain 100% safe? ›

No financial system is 100% tamper-proof. Hence, blockchain is no exception. But blockchains are extremely difficult to hack or breach because of their specially-crafted design. There are however two ways to take over the security of a blockchain and its established security mechanism.

Why is blockchain failing? ›

Insufficient Budget and Resources. While blockchain can potentially reduce operational costs, the initial implementation can be quite resource-intensive, as the failed We. trade project proved. A lack of adequate budget and resources—both human and computational—can be a significant roadblock.

Why is blockchain not the future? ›

Conclusively, although blockchain technology exhibits immense potential and has made noteworthy advancements thus far, its future hinges on its ability to surmount existing obstacles and secure broad adoption.

What is blockchain the best explanation? ›

A blockchain is “a distributed database that maintains a continuously growing list of ordered records, called blocks.” These blocks “are linked using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data.

What best describes a blockchain? ›

A blockchain is a distributed, immutable, and decentralized ledger at its core that consists of a chain of blocks and each block contains a set of data. The blocks are linked together using cryptographic techniques and form a chronological chain of information.

What best defines blockchain quizlet? ›

Blockchain is an open, distributed ledger that can securely record transactions between two parties in a verifiable and permanent way.

What is blockchain explained very simply? ›

Blockchain technology is simply a group of computer systems worldwide that reproduces and distributes a virtual record of transactions throughout the whole network. A blockchain consists of blocks, and each block comprises several transactions.

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