The future of doing business will be through tokens and smart contracts, enabled by blockchain. EY has a clear vision and strategy for how blockchain is digitalizing and integrating supply chains by knitting together business operations and finance at the ecosystem level.
What EY can do for you
EY can help you with the complete business lifecycle from contracting, ordering, fulfilling, invoicing, to payments. You can do business on a blockchain with EY OpsChain and then get insight into what happened with EY Blockchain Analyzer. EY also knows how to manage the tax and audit requirements for blockchain-based transactions. Working with EY, companies can be confident about getting the benefits of this new technology while handling the regulatory and tax complexities of an emerging ecosystem.
Understanding the EY Blockchain platforms
Transforming the business lifecycle with EY OpsChain, EY Blockchain Analyzer, Nightfall, Dye Pack and Smart Contract and Token Testing
The EY OpsChain platform lets companies interact with their business partners, customers and suppliers, over public or private blockchains. It aims to facilitate the tokenization of key business assets like inventory or contracts, and represents them on a blockchain, as tokens, contracts or payments.
EY Blockchain Analyzer
The EY Blockchain Analyzer platform is designed to facilitate and support Audit teams in the reconciliation of data between the client’s books and records and the public ledger. It helps Audit teams understand what clients are doing on the blockchain, and how their business is shaping up in that environment.
Coming in early 2021: The EY CryptoPrepTM functionality is joining the EY Blockchain Analyzer suite as part of the Tax Calculator solution. (Learn more in this EY US press release.)
Nightfall makes transactions on public blockchains secure and private. It replaces sensitive business information with a type of cryptography called a Zero Knowledge Proof. This technology is designed to bring trust to public blockchain transactions and has been released in the public domain allowing for secure, private transfers and payments on the public Ethereum network.
Dye Pack mitigates the risk of wallets being hacked and tokens being stolen in public blockchain transactions. It cryptographically tags private tokens, rendering them unspendable in the event of a theft and makes it possible for companies to issue replacement tokens. Dye Pack gives businesses confidence in adopting public blockchains for their private transactions.
Smart Contract and Token Testing
Smart Contract and Token Testing enables enterprise users to check the functionality, security, and the quality of smart contract implementation. It also as simulates transactions before being executed on the blockchain network.
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