Ernst & Young Report: Prepare For Blockchain ‘Critical Mass’
Ernst & Young (EY), the third largest multinational professional services firm, believes blockchain technology is poised for critical mass. In its latest report, “Blockchain Reaction: Tech companies plan for critical mass,” the company explains how tech firms will experience impact through the blockchain’s “potential-rich, but still immature,....
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Ernst & Young is one of the most respected companies active in the financial sector today. Despite their interest in blockchain technology, the company is also selling US$16m worth of confiscated Bitcoin next month. A Huge Bitcoin Auction By Ernst & Young. The bitcoins in question were seized last year as part of an investigation into criminal activity over the Internet. There will be 11 lots of 2,000 coins each, and one big lot of 2,518 BTC. This seems to follow the same trend of how the Silk Road bitcoins were sold last year. It will be interesting to see who decides to bid on these lots....
One of the “Big Four” audit firms the multinational financial management service Ernst & Young (EY) is auctioning $16 million worth of bitcoin next month in Sydney, Australia. The 24,518 bitcoins seized by special agencies will make for the country’s first cryptocurrency auction of this magnitude — much like the U.S. Marshals Silk Road auctions in....
Ernst & Young has announced six startups will participate in its first-ever startup contest focused exclusively on blockchain. Over a six-week period beginning next week, the firms will work with mentors from the "Big Four" accounting firm to build products focused on digital rights management and energy trading. The founder Ernst & Young's Startup Challenge, Jamie Qiu, said that the selected startups represent his firm's belief that the potential benefits of blockchain expand beyond the financial sector. Qiu described the challenge's dual focus: "These two key areas....
The EY Report on blockchain predicts widespread implementation of the distributed ledger technology in the next 3 to 5 years. The Blockchain technology is going to reach critical mass soon, declares Ernst and Young. The leading global consulting firm has recently published a report outlining the significance of blockchain technology in various industry sectors. The distributed ledger technology powering digital currencies like Bitcoin has been subject to various experiments, mainly from the fintech industry. The properties of blockchain technology make it quite unique and well adaptable to....
Global professional services firm Ernst & Young has announced it will auction off 24,518 BTC (worth $12.9m) originally confiscated by a user of defunct online dark market Silk Road. The sale will represent the end of a process that began in late 2014 when law enforcement officials confiscated the bitcoins from Richard Pollard, a Warrandyte native who was later sentenced to 11 years in prison for commercial drug trafficking. Ernst & Young said in a statement today that the auction will be held over a 48-hour period beginning at 12.01am AEST on 20th June 2016. As previous auctions....