“Big Four” accounting firms have carried out block chain and Bitcoin experiments


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nnIn the past, the chain-chain technology has received the attention of many industries. This paper summarizes the efforts and progress of the “Big Four” in this field, emphasizing that although it is uncertain which applications will be able to achieve long-term development, the potential for change in technology is beyond doubt and deserves in-depth research.n
nnTranslated by: Inan
nAlthough the development of block-chain technology is still in its early stages, its transformational potential attracts industry entities to test and accept it, and the “Big Four” Certified Public Accountants are no exception. They are actively involved in the block chain revolution, all this will fundamentally change the traditional way of providing services and business operations.n
nThe following are related work carried out by these companies in terms of Bitcoin and Block Chain technology.n
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nDeloitten
nDeloitte uses the “mystery”, “paradox” and “opportunity” to describe the block chain technology. In 2014, Deloitte introduced Rubix, a chain of chains that provided advisory services, and was able to build distributed applications for customers in various divisions, including government.n
nIn May 2016, Deloitte set up its first RCT laboratory in Dublin and set up a second in New York in January, and is expected to set up more in the future. Deloitte joined the Enterprise Eiffel Alliance (EEA) and the “Superbook” project led by the Linux Foundation in May 2017.n
nOne of the most interesting news today is the partnership between the Deloitte CIS and the Waves platform, “providing customers with comprehensive ICO services and tailor-made block-chain solutions for specific businesses.”n
nThey will also work together to study the legal mechanisms governing the ICO project, which is very necessary.n
nDeloitte has also studied Bitcoin. In order to increase contact, through practical learning, to promote the application of block chains in Canada, Deloitte even installed an ATM in September 2016 in an office in downtown Toronto. The staff restaurant named Bistro 1858 also accepts Bitcoin payments.n
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nErnst u0026 Youngn
nErnst u0026 Young is the first consulting firm to pay for Bitcoin (in specific locations). The customers of the UNION Swiss subsidiary now (since 2017) have the option to pay the invoice audit and advisory services using Bitcoin.n
nMarcel Stalder, chief executive officer of Ernst u0026 Young’s Swiss branch, said:n
nn”It is very important for us to be ready to meet the revolution that the business world is about to pass through block chains, smart contracts and digital currency outbreaks.”n
nnThe company joined the Swiss Bitcoan Association in May 2017, demonstrating further support for Bitcoin.n
nErnst u0026 Young’s website says “block chain technology has been officially put on the agenda”, promised to study the technology. Last year, it also held an entrepreneurial competition to explore the block chain solution for digital identity and energy trading.n
nIn April 2017, Ernst u0026 Young launched the Ops Chain, which includes a range of applications and services that facilitate the commercial use of block-chain technology in the enterprise. It also chose New York as the third place to set up a chain-chain lab, while the other two were London and Trevor (India).n
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nPricewaterhouseCoopersn
nPricewaterhouseCoopers (PwC) believes that the chain chain in the field of financial services has great potential. In order to use the block chain and commercialize it, PricewaterhouseCoopers recruited 15 leading technical experts and set up a new global technical team in January 2016.n
nSince then, PricewaterhouseCoopers has worked with a number of companies, including public and private companies, to improve the applicability of block chain technology worldwide.n
nIn November 2016, PricewaterhouseCoopers launched Vulcan Digital Asset Services, which worked with Bloq, Libra and Netki to enable digital assets to be used for day-to-day banking, business and other services on personal money and assets. On the other hand, according to a March announcement, PricewaterhouseCoopers is working with Alibaba and the food industry stakeholders to explore block-chain solutions to address supply chain fraud and build trust in the food industry.n
nIn its most recent report, PricewaterhouseCoopers announced that “block chains are moving from experiment to practice,” emphasizing that more than three-quarters of global financial services companies plan to apply block chains to production systems by 2020 go with.n
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nKPMGn
nIn September 2016, KPMG launched Digital Ledger Services, a service designed to help financial services companies realize the potential of block chains. KPMG said that digital book services include support for the entire lifecycle, from strategic qualification and business case development to related use case development, system and operational integration, and ongoing management of the company’s block chain infrastructure. KPMG’s block chain plan is supported by Microsoft’s “Block Chain Service” (BaaS) platform.n
nKPMG and Microsoft are also launching a joint block-chain node in early 2017 based on this strategic partnership to create and demonstrate use cases that apply block-chain technology to business propositions and processes.n
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nConclusionn
nAlthough the possible application of block chain technology is very much, but only time to tell people how many of them can play a role in the real world. Nevertheless, the potential benefits of the block chain prove that people in this effort and investment will not be in vain.n

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