More

    EY (Ernst & Young) Releases New OpsChain Public Finance Manager Blockchain Tool

    Ernst & Young (EY), one of the Big Four auditing firms, has recently launched a new blockchain-based product, a platform that was designed to enhance the transparency of the government. According to the reports, the new platform will be called OpsChain Public Finance Manager.

    This system is set to enable transparent tracking of public finances and budgets so that all citizens can view it. The service can also be used to match how much money is being spent against outcomes, which can show how effective the policies are.

    One of the main goals of this system is that governments will be able to make data-driven policy decisions with more efficiency. With the data gathered by the platform, they can understand the outcome of their decisions better and create better policies.

    According to EY’s official statement, blockchain technology can be important when impacting public spending. This way, public managers can focus on what they need and enhance their work by making it more transparent and accountable.

    EY is already testing the product in some cities. One of them is Toronto, Canada. The system allows financial transfers between different sectors of the government and the company claims that its experiments were important to increase the transparency of the city.

    Heather Taylor, the chief financial officer of Toronto, affirmed that the official os the city is constantly striving to find better technologies to meet the needs of the residents and to help them more effectively.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Avatar
    Gabriel Machadohttps://bitcoinexchangeguide.com/
    Brazilian journalist who is interested in the future of the financial world. Has a special interest in the blockchain technology and the global financial markets. Covers economic and technology news with a focus on the fintech industry and has been writing about the cryptocurrency market since the start of 2017.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,261FansLike
    2,715FollowersFollow
    4,088FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Cryptocurrencies Decentralized Structure Makes Terrorist Financing Difficult To Track: Chainalysis

    Chainalysis has released their conclusions from a study, that has helped the firm establish that extremist groups are coming up with new ways to...

    Swiss Crypto-Friendly SEBA Bank To Raise An Additional $96.5M 2 Months After Getting License

    SEBA, is the famous crypto bank which obtained its regulatory license last year in November from the Financial Market Supervisory Authority (FINMA). The crypto...

    Open Interest on CME Bitcoin Futures Outgrowing BTC Price

    If BTC closes above the 200-day moving average, just above $9,000, we could see $10k Institutional investors leading the way for a new...

    Here’s How DeFi’s Smashing Growth Puts a Trillion-Dollar Case for Ethereum

    Total USD value locked in DeFi surpasses $800 million creates “a new paradigm for global finance” with one common theme Ether The trillion-dollar...

    This Uncannily Accurate Bitcoin Chart from Dec. 2018 Predicts a New ATH in 2020/21

    Analyst ‘s post from Dec. 2, 2018, correctly predicts Bitcoin’s bottom and momentum in 2019 Bitcoin price is currently hovering around $9,000 after surging...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.