NTT DATA, a digital business and IT services leader, announced Everest Group has positioned the company as a Leader in its PEAK Matrix® for Enterprise Blockchain Service Provider 2022 report. Everest Group rated NTT DATA as well above average in each of the report’s nine Market Impact and Vision & Capability segments, giving the company its highest marks for the value it delivers, the innovation and investments it generates, and the delivery footprint it has created.
Blockchain technology has emerged as an enterprise-ready tool for innovation in recent years, particularly during the pandemic. As governments and business units pursue high-impact use cases for blockchain, service providers have expanded their offerings to develop ecosystems and target business outcomes enabled by digital levers. Everest Group said NTT DATA has aligned with this market direction by developing strategic partnerships and creating IP for key use cases.
“As it becomes more apparent that blockchain can break traditional industry boundaries, customers are looking for trusted partners to help them unlock value from the technology,” said Toshi Fujiwara, Senior Executive Vice President and Representative Director, CTO, CIO, CISO, NTT DATA. “Being named a Leader in Everest Group’s PEAK Matrix® for Enterprise Blockchain Service Provider 2022 report shows that NTT DATA has the technology infrastructure, the broad-based skills and the experience setting up secure, transparent, distributed ledger technologies.”
NTT DATA employs most of its dedicated blockchain personnel in a centralized Center of Excellence devoted to blockchain and six other technology areas, including AI, DevOps and digital design. The company’s proprietary blockchain offerings include Blockchain Reconciliation Platform, a general-purpose multi-industry reconciliation platform; BlockTrace, a supply chain object tracing platform; BlockTrace4Sharing, NTT DATA's sustainability platform for managing, tracking and validating food donations; StampChain, a GDPR-compliant document certification platform; and KayTrust, a framework for organizations to manage end-to-end customer identities.
Everest Group credited NTT DATA for its development of an extensive ecosystem through partnerships with key technology vendors, academic institutions and industry consortia such as LACchain, ALASTRIA and INATBA. The report also noted the extensive investments NTT DATA has made in blockchain IP covering key use cases such as tokenization, digital identity, reconciliation, data sharing and traceability.
The report highlighted the results of a case study in which NTT DATA created a payments solution using blockchain for a large bank. NTT DATA developed an international money transfer platform using the Ripple payment protocol, enabling near real-time payment and settlement of funds. The system reached 14 million potential retail customers.
“The frenzy of blockchain Proof of Concept (PoC) launches and the debate on moving away from PoC to production has radically subsided in the last 18 months, as the industry made great progress on pragmatic blockchain use cases focused on immediate value generation potential,” said Ronak Doshi, partner, Everest Group. “The market has shifted toward using a combination of emerging technologies, including distributed ledger technology, to build inter-enterprise and, in some cases, also inter-industry networks. NTT Data is well aligned with the market direction, particularly with its focus on creating ecosystem value through consortium partnerships. NTT Data’s extensive investments in creating IP for key use cases, such as tokenization, digital identity, reconciliation, and data sharing, has led it to secure a Leader position on Everest Group’s Enterprise Blockchain Services PEAK Matrix® 2022.”
The PEAK Matrix® for Enterprise Blockchain Service Provider 2022 Assessment 2022 evaluated 23 leading vendors. It is based on Everest Group’s annual RFI process, which includes interactions with leading blockchain service providers, client reference checks, and an in-depth analysis of the blockchain services market.