Infosys Public Services launches blockchain network to modernize public recordkeeping for County of Riverside in California; Stock rises ~3%

The pilot blockchain initiative will digitize access and enable validation of vital records issued by the Riverside County Assessor-County-Clerk Recorder Office, the company said.

Jul 22, 2021 03:07 IST India Infoline News Service

Infosys Public Services (IPS), a US-based subsidiary of Infosys, completed the pilot of a blockchain solution designed to improve the efficiency, access, and security of vital recordkeeping in Riverside County, California’s fourth-largest county and the 10th largest in the U.S. The blockchain network enables county employees to manage data effectively and securely while easing access and lowering the cost of operations.

“Blockchain technology presents a new opportunity for governments to advance their digital agenda and leapfrog into the next era of secure, citizen-centered services,” said Eric Paternoster, CEO, IPS.

“We are excited about this project with Riverside County Assessor-County Clerk-Recorder Office and appreciate the opportunity to demonstrate how blockchain can enable the county to become more digital, connected, and secure.”

The pilot blockchain network, developed in collaboration with Amazon Web Services, Inc. (AWS) using Amazon Managed Blockchain, modernizes the once paper-centric operations of the Riverside County Assessor-County Clerk-Recorder Office. The introduction of blockchain technology enables the Office to store, recreate, and retrieve verifiable digital records, reducing the need for physical storage. The solution will also provide citizens more timely and accurate access to their records.

“As Riverside County’s Assessor-County Clerk-Recorder, our goal is to provide recordkeeping, record issuance, and property valuation in a timely, secure, and cost-effective manner,” said Peter Aldana, Assessor-County Clerk-Recorder at County of Riverside.

“Adoption of blockchain technology will greatly advance our digital transformation journey towards our goal, he added.

Towards close of trade on Thursday, Infosys Ltd was trading at Rs1,593.10 per piece up by Rs43.4 or 2.8% from its previous closing of Rs1,549.70 per piece on the BSE.

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