Big Four accounting firm PwC’s blockchain development strategy: Think big, start small

Rage Comment : PwC, one of the Big Four accounting firms, announced at the recent New York Blockchain Conference that it would reduce its strategic layout and build a small team to focus on the regional market. The company's Internet Finance Director is the newly joined Geraldine Balaj. I believe this is also part of PwC's adjustment of its blockchain technology research and development strategy. In the future, the company will support the implementation of various small company cooperation projects.

Translation: Annie_Xu

In order to further expand blockchain projects, PricewaterhouseCoopers (PwC), one of the Big Four accounting firms, has begun to consider a contraction strategy.

Geraldine Balaj, PwC’s fintech leader, revealed the company’s plans at the Blockchain Conference New York this month, but she did not mention any recent moves to join large industry alliances, instead noting that the company plans to form smaller groups focused on improving efficiency in local markets.

Geraldine Balaj

Balaj told a meeting of more than 200 people at the company’s global headquarters:

"We are definitely evaluating smaller leagues and trying pairings with a lot of clients; to achieve the plans that have been set for many years."

In addition to industry-level collaboration, PwC helps clients identify opportunities for collaboration between companies, Balaj said.

This cross-enterprise presence could exist in many areas, such as syndicated lending, collateral management and optimization, and all back-end processes, she said.

Balaj’s comments are significant as she recently became the firm’s head of fintech, responsible for blockchain and distributed ledger technology, and also comes at the same time that former PwC fintech head Jeremy Drane left the firm to become chief commercial officer of blockchain startup Libra.

PwC’s main purpose is to study how the distributed ledger industry can absorb the innovation experience of the past three years and develop products that can save time and money.