EY Ops Chain industrializes the blockchain at scale for enterprises
NEW YORK, 16 APRIL 2019. EY today announced the launch of the second generation of EY Ops Chain, the organization’s flagship solution for the industrialization of blockchain technology for enterprise users.
EY today announced the launch of the second generation of EY Ops Chain, the organization’s flagship solution for the industrialization of blockchain technology for enterprise users. EY Ops Chain is now one of the world’s leading blockchain business applications, with seven use cases across the food and beverage, health care, financial services and asset management industries, as well as enterprise functions such as supply chain, procurement and asset management.
Since its debut in April 2017, EY Ops Chain has combined the broad range of consulting, tax and audit experience of EY to drive enhanced business performance and growth. The solution allows enterprises to represent their operations on a blockchain using digital tokens and smart contracts. Using EY Ops Chain, companies can set up and manage networks of business partners and then run shared processes across the entire ecosystem including procurement, inventory, logistics, invoicing and account management.
Significant upgrades have been made to the second generation of EY Ops Chain, which will support up to 20 million transactions per day on private networks, advanced token technology enabling financial services functionality to be integrated into assets and the development of a library of smart contracts that automate standard business processes. As a result of integration across enterprises, early users are seeing performance speed improv
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients.
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
This material has been prepared for general informational purposes only and is not intended to be relied upon as accounting, tax, or other professional advice. Please refer to your advisors for specific advice.
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