EY invests $100 million to expand blockchain product suite, launches DeFi contract simulator

Ernst & Young is investing $100 million into targeting enterprise DeFi with its latest suite of Blockchain Analyzer products.

“Big Four” accounting firm, Ernst & Young Global Limited, or EY, is continuing to invest heavily in blockchain, investing $100 million into engineering and developing distributed ledger technologies for a range of enterprise applications.

On May 17, EY revealed its second-generation of Smart Contract & Token Review tools through its EY Blockchain Analyzer product suite, including a testing studio allowing simulated smart contract execution for complex decentralized finance, or DeFi, applications.

“The new iteration supports multiple new capabilities that are expected to be used in complex DeFi contract ecosystems,” EY announced, adding:

“It offers a blend of compliance testing with traditional code review, and it supports customized smart contract tests and simulation of mainnet transactions.”

Yael Tamar, the co-founder of asset tokenization firm, SolidBlock, recounted using the new studio to review smart contracts for property-backed security tokens, stating: “It was very beneficial to simulate how our contracts could perform on the network prior to deployment and test the contracts against widely known attacks in this market.”

EY also revealed that Italian beer company, Birra Peroni, is using its Ethereum-based supply chain solution, “EY Opschain Traceability.” Peroni is using the supply train tracker to notarize company information and will mint nonfungible tokens to identify and track data for batches of Peroni beer.

EY also announced the contribution of source code to a zero-knowledge-proof prototype compiler in the public domain. The firm’s latest ZKP protocol, “Starlight,” was built to address concerns over preserving commercial confidentiality on a shared network.

Alongside Microsoft and ConsenSys, EY launched the enterprise-focused smart contract and tokenization protocol, Baseline Protocol, during March of last year. The protocol leverages the Ethereum mainnet as middleware while ensuring robust privacy protections for network participants, offering enterprises a means to transact on distributed networks without exposing sensitive data to network counterparties.

Speaking to Cointelegraph last week, Baseline executive director, John Wolpert, emphasized the efficiency savings and unique utilities offered by blockchain technologies across the supply chain.

iBTC 並非有關信息的提供者,不會為客戶或任何第三者對於該信息的(包括但不限於)正確性、品質、準確性、安全性、完整性、可靠性、性能、及時性、報價或持續可用性負責。本頁任何內容都不是投資建議

下載iBTC 手機APP
感受最佳交易體驗