Ernst & Young Invests $100 million into Blockchain Industry
Login

Ernst & Young Invests $100 million into Blockchain Industry

Estimated Reading Time: 3 minutes
Article Rating:
Based on 1 vote
Login to rate this article.

Azeez Mustapha

Updated:


Behemoth accounting firm Ernst & Young Global Ltd. has joined the growing list of large corporations investing in crypto and blockchain technology. The firm announced yesterday that it has invested $100 million into engineering and developing distributed ledger technologies (DLT).

Ernst & Young unveiled its second-generation (G2) smart contract and token review tools using its Ernst & Young Blockchain Analyzer product site, which includes a testing studio for enabling simulated smart contract execution for complex decentralized finance (DeFi) applications. The company noted that:

“The new iteration supports multiple new capabilities that [will get] used in complex DeFi contract ecosystems,” Ernst & Young announced. They also stated, “It offers a blend of compliance testing with traditional code review, and it supports customized smart contract tests and simulation of mainnet transactions.”

Ernst & Young also mentioned that Italy-based beer company, Birra Peroni, utilizes its Ethereum-based supply chain solution, known as the “EU Ops Chain Traceability.” Birra Peroni uses the supply train tracker to verify the information and to mint non-fungible tokens (NFTs) for the identification and monitoring of Peroni beer batches.

Ernst & Young Launches More Blockchain Projects

The accounting firm also revealed that it contributed source code to a zero-knowledge-proof prototype compiler in the public domain. Starlight, Ernst & Young’s latest ZKP protocol, addresses worries over the protection of commercial confidentiality on a shared network.

Ernst & Young, in collaboration with Microsoft and ConsenSys, launched The Baseline Protocol, an enterprise-focused Smart Contract protocol, in March 2020. This protocol takes advantage of the Ethereum network as a middleware while providing adequate security for its network users.

The Baseline Protocol provides a platform for enterprises to transact on blockchains without compromising their data security to network counterparts.

What this means for the Blockchain Industry

With more institutional investment coming into blockchain technology and the cryptocurrency industry, these industries become more demystified and are attracting more investments and mainstream adoption.

 

You can purchase crypto coins here: Buy Coins

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$50 Min Deposit
9
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9

Learn to Trade

Never Miss A Trade Again

step 1
Signal Notification

Real-time signal notifications whenever a signal is opened, closes or Updated

step 2
Get Alerts

Immediate alerts to your email and mobile phone.

step 3
Entry Price Levels

Entry price level for every signal Just choose one of our Top Brokers in the list above to get all this free.

Share with other traders!

telegram
Telegram
forex
Forex
crypto
Crypto
algo
Algo
news
News