Blockchain

Blockchain for the Internet of things: Big Four auditors, KPMG delivers Trusted IoT Alliance

With the accounting firm KPMG, the Trusted IoT Alliance receives a prominent enhancement of a “Big Four” companies. How KPMPG LLP announced in a press release that it hopes the cooperation with representatives from the Blockchain-industry and Fortune 500 companies, synergy effects of the two technologies.

The Blockchain and the Internet of things: Revolution in the next three years

In particular, the factor of data security.

Our membership in the Trusted IoT organization that brings together the most important actors in the areas of Business Transformation and technology to develop a safe and standardized IoT Framework with Blockchain. This will increase the value of these new technologies, both for KPMG and for our customers and we also enable it to improve data security between IoT devices and networks,

Arun describes Ghosh, Blockchain CEO at KPMG, the expectations of the company in the press release.

The customers interest is certainly present, is evidenced by the survey of the KPMG industry leaders, to which the press release refers to. In between December 2018 and January 2019 740 executives in the technology area of the Blockchain. Almost every second Respondent believes that the Blockchain will provide for changes in the operating business. Particularly in the area of Internet of things (IoT) will come from the Blockchain in the next three years.

Also, KMPG-Blockchain-in-chief Ghosh skin in this score when he says:

The bringing together of IoT and Blockchain allows us to create a better transparency between the parties to the contract, to prosecute the execution of services on the basis of sensor data, and smart contracts for the automation of payment processing and the traceability of products in real-time delivery with secure data aggregation over the entire chain, as well as several other use cases.

Also Bitcoin potential

The KPMG sees, however, not only in the Blockchain technology but also in crypto-Assets, such as Bitcoin has enormous potential. The has explained the auditing firm in its report, “Institutionalization of crypto assets”. In the together with the Bitcoin exchange Coinbase, the Fund stepped in and Morgan Creek Digital Report attested to the Big Four companies Bitcoin that he had the stuff to be a ubiquitous Innovation in the global financial system.

About the author

Belinda Carey

Belinda Carey

A finance girl by education, Belinda has been drawn to cryptocurrencies ever since Bitcoin first emerged in the 2009. Nearly a decade later, Belinda is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies.