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Ernst and Young (EY)

Summary

EY is a professional services firm that offers audit, accounting, legal, and business advisory services around the world. EY has a global blockchain organization (EY Blockchain) that has made a number of investments in blockchain technology. The vision of EY blockchain is that this technology will bring the kind of digital integration and speed of operations to networks of companies and business ecosytsems that enterprise resource planning software did within the single enteprise.

The firm offers two main service platforms to it's clients:

EY OpsChain is a middleware tool that is designed to connect enterprises to public and private blockchains for the purpose of enabling business transactions such as product traceability, tokenization, sale and transfer of assets, enterprise procurement contracting, and other enterprise processes.

EY Blockchain Analyzer is a SaaS analytics platform to help enterprise users and financial statement auditors understand the flow of business transactions on both public and private blockchains. EY Blockchain Analyzer is used by EY audit teams in the preparation of financial statement audits and can also be used by individual clients for transaction analysis, tax liability calculation, blockchain analytics, and security testing.

While EY Blockchain Analyzer supports multiple blockchain platforms, EY has chosen to focus its product and system development activities on the Ethereum ecosystem with a particular focus on enabling secure transactions on the public Ethereum mainnet.

EY is rolling out free software designed to help corporate clients use the Ethereum blockchain. This software, named Nightfall has been made available in the public domain. The protocol is created for such use cases as supply chains, food tracing, transactions between branches of a company and public finance. It takes advantage of Zero Knowledge Proofs to allow private transactions on a shared ledger.

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