Bitcoin mining group Bitfury teams up with EY to offer blockchain services

Rage Review : Ernst & Young, one of the Big Four accounting firms, has teamed up with Bitfury, a Bitcoin mining company, to provide blockchain software services for Ernst & Young's machine client network. Earlier this year, Deloitte and Bank of Ireland worked together to complete a blockchain proof-of-concept experiment; PwC also worked with a Shanghai blockchain startup earlier this year to accelerate China's technological development. We look forward to developing blockchain applications outside the financial sector, such as technology, energy, and public services.

Translation: Nicole

Ernst & Young (EY), one of the world’s “Big Four” services firms, has reached an agreement with the Bitfury Group, best known for its status as a major bitcoin mining company.

A report from CNBC suggests that the agreement will see the Bitfury Group provide blockchain software services to EY and its client network. The agreement is expected to soon make a splash in Bitfury’s recent EY Startup Challenge competition.

Bitfury Group, which provides blockchain solutions for digital rights management, won the honor of "Best Project" in the competition. During the event, the Bitcoin-based company tried to explore multiple application cases using blockchain technology with more than 20 EY client companies.

Valery Vavilov

Speaking about the potential of blockchain technology for EY clients, Valery Vavilov, CEO of Bitfury Group, said:

Our collaboration can bring blockchain technology to more companies and countries, helping to improve their business operations, efficiency, and security.

Blockchain Events

The “Big Four” service companies are all working hard to explore and develop blockchain solutions as blockchain technology is the most eye-catching buzzword in the field of financial technology.

Earlier this year, Deloitte announced a successful proof-of-concept blockchain experiment in partnership with the Bank of Ireland, with a trade report attached. Last month, Deloitte released two notable reports focusing on blockchain technology and how it can help healthcare and loyalty rewards programs. Deloitte’s Toronto office also installed a Bitcoin ATM in the offices of its Rubix team, a group of employees dedicated to developing blockchain applications for Deloitte’s clients.

Another “Big Four” firm, PricewaterhouseCoopers, released a report highlighting blockchain as a “once-in-a-generation” opportunity for financial services and earlier this year partnered with a Shanghai-based blockchain startup to accelerate the development of the technology in China.

The new collaboration between EY and Bitfury Group could see blockchain applications beyond the financial sector, including in technology, energy and public services.