blockchain solution

The crypto space has come a long way over the past few years, and so has the blockchain solution space. While it is true that for most people, crypto and blockchain are synonymous, it needs to be kept in mind that the latter is a form of technology that has a wide variety of uses.

Nowadays, many of the world’s biggest firms are making attempts to use blockchain technology, and the latest in the line is consultancy giant Ernst & Young. The company announced that it is all set to launch a blockchain platform that is meant for public funds and is going to increase transparency substantially.

/**/

Key Details

One of the most important things to point out about a blockchain solution is the fact that it allows a company to come up with solutions that are completely data-driven. The bias that may creep up from other sorts of analytical solutions simply vanishes when blockchain is used, and that has possibly made it such an attractive proposition for some of the bigger companies in the world. Public finance management can be an extremely intricate subject for any company, and hence, it is no surprise that Ernst & Young has decided to use blockchain in order to increase the levels of transparency.

>> Facebook Officially Launches Libra Despite High-Profile Departures

The system that has been installed by the company is apparently capably of tracking the direction in which public funds are being directed in real-time. Such a thing can be a hugely beneficial thing for the public, which might want to find out the agencies which are being given government funds.

Ernest & Young stated, “Modern public financial management requires focusing on the things that matter most — transparency, accountability and robust evidence for decision-making — all factors that can be enhanced by blockchain technology.” It is a highly innovative and bold step from the company, and it remains to be seen how a blockchain solution will help in such a large-scale project.

Featured image: DepositPhotos © nils.ackermann.gmail.com

/* p > a { text-decoration: none; color:#000 !important; } .crec-ad > p > a:hover { color:#000 !important; text-decoration: underline; } @media(min-width:1228px){ .crec-image img{ width:191px; height:100px; } } @media (max-width: 1228px) { .crec-ad { width: 50%; box-sizing:border-box; } .crec-image img{ width:100%; height:158px; } .crec-ad:last-child { width: 50%; padding-right: 4px; } } @media (max-width: 590px) { .crec-ad { width: 100%; } .crec-image img{ height:auto; } .crec-ad:last-child { width: 100%; padding-right: 4px; } .crec-header h1 { padding-left:20px; } .crec-container { padding-left:20px; padding-right:20px; } }
/*]]>*/

/**/

About the author

E-Crypto News was developed to assist all cryptocurrency investors in developing profitable cryptocurrency portfolios through the provision of timely and much-needed information. Investments in cryptocurrency require a level of detail, sensitivity, and accuracy that isn’t required in any other market and as such, we’ve developed our databases to help fill in information gaps.

Related Posts

E-Crypto News Executive Interviews



Automated trading with HaasBot Crypto Trading Bots

Crypto Scams

Millions in Cryptocurrency Stolen by Scammers in the Last Month According to Tenable Research
November 24, 2021
Behind The Scenes: How this Crypto Community Responded to + $50m Hack
October 18, 2021
Crypto Scams
Crypto Scams Still Persistent In 2021, SEC Warns About Red Flags To Watch
September 9, 2021
Poly Network
Here’s How Hackers Stole Over $600 million in the Poly Network Attack
August 12, 2021
The World’s Most Infamous Crypto Hacks and Scams
July 31, 2021

Blockchain/Cryptocurrency Questions and Answers

Crypto casinos
How Does Bitcoin Casino Work + 2021 Beginner’s Guide
November 8, 2021
Cryptocurrency
How to Buy and Sell Cryptocurrency
November 8, 2021
What Are Bitcoin Futures And How Will They Work In 2022?
November 4, 2021
Ethereum
The Unconventional Guide to Ethereum
October 28, 2021
ICo Presale
The Science Behind ICO Presales…
October 14, 2021


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin49,156 0.22 % 0.28 % 14.02 %
Ethereum4,289.0 0.21 % 0.18 % 6.55 %
Binance Coin590.45 0.40 % 1.60 % 5.91 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Solana187.98 0.09 % 0.15 % 18.07 %
Cardano1.360 0.09 % 1.01 % 12.12 %
XRP0.9090 0.40 % 11.16 % 8.21 %
USD Coin1.000 0.14 % 0.20 % 0.17 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Terra70.97 1.08 % 4.04 % 10.35 %

bitcoin
Bitcoin (BTC) $ 49,450.00
ethereum
Ethereum (ETH) $ 4,318.67
binance-coin
Binance Coin (BNB) $ 593.13
tether
Tether (USDT) $ 1.00
solana
Solana (SOL) $ 188.69
cardano
Cardano (ADA) $ 1.37
xrp
XRP (XRP) $ 0.916536
usd-coin
USD Coin (USDC) $ 0.999808
polkadot
Polkadot (DOT) $ 28.78
terra-luna
Terra (LUNA) $ 71.55