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- EY is investing heavily in Blockchain technology
- Investment in line with its EY NextWave strategy announced in September 2020
- EY Opschain Traceability is being used by Italian Beer Company Birra Peroni
EY, which is better known as Ernst & Young Global Limited, continues to invest heavily in blockchain. It has just invested $100 million into developing distributed ledger technologies for an array of project applications.
Second Generation EY Blockchain Analyzer product suite unveiled
EY announced that it is committed to the advancement of the blockchain industry. The latest investment is in line with its EY NextWave strategy announced in September 2020. The Next wave strategy includes US$1.5b of investment in EY persons, technology, and audits in Financial Year 2021.
EY has unveiled its second-generation Smart Contract tools via its EY Blockchain Analyzer product suite. EY also stated that it includes a testing studio that will stimulate smart contract execution for DeFi operations. Describing the benefits of asset tokenization firm, SolidBlock co-founder Yael Tamar said that the new studio to review intelligent contracts would help see how the contracts perform and pre-empt any widely known attacks in this market.
Most of EY competitors support a mix of blockchains; EY is committed to Ethereum blockchain. It has also started providing public and private blockchain solutions. It includes creating Baseline Protocol alongside ConsenSys and Microsoft, thus helping enterprises become more amenable to adopting the public blockchain. One of the highlights of EY’s offerings is the EY Blockchain Analyzer suite of tools. It offers three different types of services-
- An Ethereum smart contract testing tool
- A blockchain explorer
- A tax calculator.
Birra Peroni employing EY Opschain Traceability
EY has also revealed that beer company Birra Peroni, is employing its Ethereum-based supply chain solution, “EY Ops chain Traceability.” Peroni will use the solution to identify and track data for batches of Peroni beer.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
