Where does blockchain fit into an innovation strategy?
Blockchain technology has the potential to universally reshape the way business transacts across nearly every industry in the global economy.
The key benefits of blockchain technology is the distributed infrastructure’s ability to share information that is secure and provide for the unalterable transfer of data– ensuring data integrity. This makes the technology an important tool in building trust among business and consumers. Both can provide and access accurate data about transactions across nearly every financial service industry from retail banking to insurance to investment banking.
Understanding when and how to build from blockchain technology’s inherent strengths – including asset creation, asset transfer and data reconciliation – will separate the winners and losers as the financial services industry moves from exploration to application.
EY brings blockchain to life
Our strategy, risk, compliance and tax proficiency across financial services helps us identify the critical business challenges that blockchain-enabled platforms can best address. From design to delivery, our strategists and engineers work hand-in-hand with clients to guide where, when and how to develop the best blockchain strategy for their businesses.
To date, our global network offers more than 50 business processes enabled by blockchain technology across financial services, healthcare, logistics and other industry sectors.
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