Ernst & Young has unveiled a blockchain solution that aims to assist businesses in executing complicated agreements, reducing expenses, and ensuring security.
Ernst & Young Global Ltd., a global professional services company, has introduced a blockchain-based solution. It will enable businesses to execute complicated business agreements while ensuring security and minimizing costs.
EY Global Blockchain Summit
During the EY Global Blockchain Summit, the company launched EY OpsChain Contract Manager, which is based on blockchain distributed ledger technology. The solution allows multiple parties to synchronize data between different business partners and enforce key terms using smart contracts.
The key terms include ‘standardized pricing,’ ‘volume discounts,’ ‘rebates,’ and ‘strike prices’.
The contract management solution is powered by Ethereum, the second-largest blockchain by market capitalization after Bitcoin, which uses decentralized technolog
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