Major Auditing Firm Ernst & Young Releases Updates to Two Blockchain-Related Products
Ana Alexandre's original article for cointelegraph.com reduced by 43%
Big Four auditing firm Ernst & Young has released two new blockchain developments, a new version of its Blockchain Analyzer and a zero knowledge proof protocol. The company revealed the products in two separate press releases on April 16.EY has launched the second generation of its analytics tool EY Blockchain Analyzer. While the first generation of the product was available to only EY audit teams facilitating gathering companies' entire transaction data from multiple blockchain ledgers, the upgrade made the analyzer accessible for EY teams and non-audit customers as a business application.
Paul Brody, EY Global Innovation Leader for blockchain, said that the company intends to build a platform solution that can be deployed for various purposes, including audit, tax and transaction monitoring. As for EY's zero knowledge proof protocol, the company aims to facilitate the adoption of secure, private transactions over public blockchains. Paul Brody, EY Global Innovation Leader, Blockchain, said that "Making public blockchains secure and scalable is a priority for EY.
The fastest way to spread this privacy-enhancing technology was to make it public." The product can reportedly get information about cryptocurrency transactions from "Virtually all" major exchanges, consolidate data from various sources, and automatically produce reports, including cryptocurrency-related U.S. Internal Revenue Service tax returns.
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