The ‘Big Four’ to Establish Their Own Blockchain Consortium
The four major accounting firms in the world are set to meet with the American Institute of Certified Public Accountants to discuss the establishment of a distributed ledger consortium. Known as the 'Big Four', Deloitte, Ernst & Young, KPMG and PwC will be looking at various Blockchain solutions for the accounting sector just as the R3 Consortium - which has over 50 members - has been doing the financial sector. R3 seems to have set a trend. R3 and over 15 of its consortium member banks recently successfully completed two prototypes which demonstrate how distributed ledger technology can....
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The ‘Big Four’ global accounting firms PricewaterhouseCoopers (PwC), Deloitte, Ernst & Young (EY) and KPMG have all been trying to figure out which way Financial Technology (FinTech) is heading. As such they have been publishing articles and reports and trying to provide the world with an analysis of where the nascent financial technology industry is heading. These accounting firms are important mainly because they service, in one capacity or another, most of the world’s companies and provide insight and shape opinion of industry leaders across myriad of sectors. It is interesting to....
The R3 blockchain consortium continues to attract attention in the financial world, as they have welcomed their first Chinese member in the form of Ping An Group. This partnership has nothing to do with the consortium seeking US$200m in additional funding, though. In a rather surprising turn of events, the R3 blockchain consortium added its first Chinese....
A recent Deloitte report indicates increasing adoption of blockchain technology, influenced by industry working groups and consortia. Blockchain consortium has found a new follower in Deloitte. The “Big Four” consulting firm, according to a report, attributes the success of blockchain technology to various groups. The consortium of global banking and financial institutions headed by R3 and other similar consortia seems to have played an important role in blockchain adoption. Deloitte is one of the early adopters of distributed ledger technology. It has been supportive towards startups....
Goldman Sachs is moving out of the R3 blockchain consortium as it failed to renew its membership in the fintech group. The R3 blockchain consortium is losing one of its key founding members. As reported, banking giant Goldman Sachs is walking away from the collaboration after failing to renew its membership last month. The investment bank was one of the nine original founding members of the consortium; its separation from an otherwise active development project signals its changing perspectives towards the project’s future. It is, however, not clear whether other banks have the similar....
Leading IT companies, Blockchain startups and financial institutions including Cisco Systems, Foxconn, Bank of New York Mellon and ConsenSys formed a consortium to focus on the development of Blockchain-based Internet of Things (IoT) applications. The consortium which also includes BitSE, Bosch, Gemalto and Chonicled, is attempting to establish a decentralized and immutable Blockchain protocol as a shared platform to build IoT devices, applications and networks. Dirk Slama, Bosch Software Innovations chief alliance officer stated: "We are seeing tremendous potential for the....