Blockchain Contracts by 2030? EY Thinks Yes

Ernst&Young (EY), one of the Big Four accounting firms, is sure that the blockchain-powered future is just around the corner.

In a tweet, Paul Brody, EY Global Blockchain Leader, shared “EY’s radical plan to get major businesses using Ethereum.”

All in all, he is sure that the business operation pattern is on the threshold of drastic changes. And we will witness it very soon, just in 20-30 years. He compared blockchain with Enterprise Resource Planning (ERP) created 20 years ago, enabling the concentration of business information in one place. The technology proved to be efficient over time. And Brody is sure the blockchain will play the same role shortly.

“We believe that blockchains will do for networks and enterprises what ERP did for the single enterprise,” he said.

And the company is persistently working in this direction.

Thus, on October 7 Ernst&Young became partners with PROS, Inc.– a provider of AI-powered solutions that help improve selling in the digital economy.

It is also known that E&Y has an unannounced partnership with Mircosoft.

“We’re doing more than 10,000 transactions per day for Microsoft. We have seven major video games suppliers live and we’re expanding the footprint of that service,” Brody said.

Ernst&Young and blockchain

Last year at Devcon conference in Prague, Paul Brody said: “Making public blockchains secure and scalable is a priority for EY. The fastest way to spread this privacy-enhancing technology was to make it public. The gold standard in security is only achieved with the kind of intense review and testing that comes with public domain releases.”

And already in April 2019, the company launched an Ethereum-powered application Nightfall.

EY says “With the second generation of EY Blockchain Analyzer, we are building a true platform solution that can be used for multiple purposes such as audit, tax, and transaction monitoring, depending on client needs.  From the start, we have had technologists and audit practitioners working together on this platform so we can keep our technology and audit methodology aligned and meet our professional standards.”

The company currently provides audit and advisory services, including tax matters, for a total of $ 21.4 billion per year. Its staff includes more than 144 thousand people.

Previously, Altcoin Buzz reported that Ripple will allow 200+ banks to enjoy blockchain’s benefits.


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