Topic: [11-16-2017]KPMG Joins The Wall Street Blockchain Alliance (Read 207 times)
Given that blockchain technology has attracted many businesses and in the future more businesses would consider adopting it then it is timely for an audit firm to join the alliance. This is crucial because they are the one assessing the company transactions and operations so knowing the process and technology beforehand would shorten the process of learning about blockchain technology in time when the audit season starts. I believe there would be more sectors that will join the alliance especially nowadays that bitcoin is having a rally again and some companies would be interested in the technology behind it.
In a move that will likely spell huge increases in Blockchain technology, one of the ‘big four’ audit firms, KPMG, has signed on as a corporate member of the Wall Street Blockchain Alliance (WSBA). The announcement was made public via the WSBA website.
With the membership, KPMG will also receive a seat on the board of directors. The inclusion represents a huge win for the WSBA, as well as for the overall adoption of Blockchain technology. According to Ron Quaranta, WSBA Chairman:
“As one of the world’s leading professional services companies, KPMG sits at the cutting edge of Blockchain innovation across multiple segments of the global economy. We look forward to collaborating with them, as our global members and indeed the world, begin to implement Blockchain innovations across financial markets and beyond.”
Overall corporate adoption
The move represents a wider Blockchain technology embrace among large-scale corporations. Recent adoption platforms include the likes of Mastercard, Bank of America, and most recently American Express.
Nevertheless, in spite of the adoption of Blockchain technology, the reality is that Blockchain adoption may not spell cryptocurrency adoption. The general mantra among corporations has been ‘Blockchain good, Bitcoin bad.’ However, as these announcements continue, the overall appearance of Blockchain as a ‘dark’ technology will wane. According to Adam Rabie, CTO of COTI:
"Corporate adoption is an essential part of spreading Blockchain technology which was initially viewed as something only for the underground, nefarious communities. The continuing adoption and respect of the Blockchain by major influencers and companies will dramatically alleviate the initial misconceptions over who Blockchain is for and what are its benefits.”
https://cointelegraph.com/news/kpmg-joins-the-wall-street-blockchain-alliance
With the membership, KPMG will also receive a seat on the board of directors. The inclusion represents a huge win for the WSBA, as well as for the overall adoption of Blockchain technology. According to Ron Quaranta, WSBA Chairman:
“As one of the world’s leading professional services companies, KPMG sits at the cutting edge of Blockchain innovation across multiple segments of the global economy. We look forward to collaborating with them, as our global members and indeed the world, begin to implement Blockchain innovations across financial markets and beyond.”
Overall corporate adoption
The move represents a wider Blockchain technology embrace among large-scale corporations. Recent adoption platforms include the likes of Mastercard, Bank of America, and most recently American Express.
Nevertheless, in spite of the adoption of Blockchain technology, the reality is that Blockchain adoption may not spell cryptocurrency adoption. The general mantra among corporations has been ‘Blockchain good, Bitcoin bad.’ However, as these announcements continue, the overall appearance of Blockchain as a ‘dark’ technology will wane. According to Adam Rabie, CTO of COTI:
"Corporate adoption is an essential part of spreading Blockchain technology which was initially viewed as something only for the underground, nefarious communities. The continuing adoption and respect of the Blockchain by major influencers and companies will dramatically alleviate the initial misconceptions over who Blockchain is for and what are its benefits.”
https://cointelegraph.com/news/kpmg-joins-the-wall-street-blockchain-alliance
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