Infosys Public Services Launches Blockchain Network to Modernize Public Recordkeeping for County of Riverside in California

Rhea-AI Summary

Infosys Public Services has implemented a pilot blockchain initiative in Riverside County, California, aimed at enhancing recordkeeping efficiency and security. This project, developed with Amazon Web Services, allows county officials to manage records digitally, reducing annual physical storage costs of approximately $500,000. The transition is expected to improve access to vital records, currently issued in paper format, by allowing citizens to retrieve them digitally within minutes. The initiative supports a broader digital transformation for the county, potentially benefiting multiple departments.

Positive

• Blockchain initiative aimed at improving recordkeeping efficiency and security.
• Annual cost savings of approximately $500,000 by reducing physical storage needs.
• Improved access to vital records, allowing digital retrieval within minutes.

Negative

• None.

Pilot blockchain initiative will digitize access and enable validation of vital records issued by the Riverside County Assessor-County-Clerk Recorder Office

RIVERSIDE, Calif., July 20, 2021 /PRNewswire/ -- Infosys Public Services (IPS), a US-based subsidiary of Infosys (NSE: INFY) (BSE: INFY) (NYSE: INFY), 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 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."

Riverside County currently spends approximately $500k annually to store official records physically to ensure compliance with records retention laws and regulations, a cost incurred by most local governments. With physical storage, however, access, research, and audit of records for retention compliance become time consuming and costly. Blockchain technology offers the ability to reduce costs associated with physical storage of the official records. In addition, Riverside County Assessor-County Clerk-Recorder Office issues between 58,000 to 90,000 vital records to citizens of the County annually. Currently all vital records requests are fulfilled through issuing of physical paper certificates. Adoption of Blockchain technology will allow governments to help citizens obtain digital vital records securely within minutes and achieve higher efficiency within the office operations. IPS and AWS will continue to work with the County to assess how blockchain technology can benefit more departments and processes, increase effectiveness of public services, while minimizing cost of operations.

Download this whitepaper for more information about Riverside County's blockchain initiative. Visit Infosys Blockchain microsite to access additional case studies, and learn more about our blockchain solutions.

About Infosys Public Services, Inc.

Infosys Public Services is a leader in next-generation digital services and consulting. With benchmark processes, access to cross-industry insights and innovative solutions, Infosys Public Services is helping public sector organizations to navigate their digital transformation, helping them renew existing systems into modern, agile, intelligent platforms, develop new capabilities and deliver better outcomes to all stakeholders at a lower cost with less risk.

Navigate your next with Infosys Public Services. Visit www.infosyspublicservices.com to see how.

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in more than 50 countries to navigate their digital transformation. With over four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NSE, BSE, NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the 'safe harbor' under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2021. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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SOURCE Infosys

FAQ

What blockchain initiative did Infosys launch in Riverside County?

Infosys launched a blockchain initiative to enhance the efficiency and security of recordkeeping in Riverside County.

How much does Riverside County currently spend on physical record storage?

Riverside County currently spends approximately $500,000 annually on physical record storage.

What technology is involved in the Riverside County blockchain initiative?

The blockchain initiative is developed in collaboration with Amazon Web Services using Amazon Managed Blockchain.

What benefits will citizens gain from the blockchain initiative?

Citizens will benefit from timely and accurate access to vital records, which can now be retrieved digitally.

What are the expected outcomes of the blockchain initiative for Riverside County?

The initiative is expected to advance digital transformation, reduce costs, and enhance public service efficiency.