Ernst & Young (EY), a professional services company, has launched a new blockchainBlockchain
is a continuous and sequential block chain of information (digital linked list). When building a blockchain, copies of related blocks are simultaneously stored on multiple computers.Details solution for governments around the world to help them improve the financial management of public funds.
EY OpsChain PFM blockchain-solution
Called EY OpsChain Manager Public Finance Manager (PFM), the solution helps governments track funds in "real time," according to an announcement on Tuesday.
“The EY OpsChain PFM blockchain provides clear, accurate and timely information for financial reporting. The system improves administrative efficiency by being able to track funds in real time and create a single source of integrated information about financial and non-financial indicators to support decision-making.” – EY.
Interesting in the section: BMW, Ford, and GM are testing blockchain for parking and fares payments
- EY OpsChain PFM has already been tested worldwide.
- KB Kookmin Bank announced at a conference called Enterprise Ethereum and Revolution in Banking Summit that it wanted to integrate blockchain technology into its internal processes.