As institutional interest in blockchain technology increases with bullish market predictions, professional services firms have been among a new wave of companies seeking to adapt existing products and services for the market.
To date, Deloitte and PwC have been perhaps the most aggressive in the space, with the former releasing a blockchain software platform called Rubix , and the latter recently launching a comprehensive Blockchain Solution Portfolio aimed at assisting enterprise clients.
While more quiet than its peers, ‘Big Four’ professional services firm KPMG is pushing ahead in the industry, adding a blockchain component to its existing line of consultancy services as it moves to court client business.
In a new interview, the firm explained it now believes the technology could come be the "perfect antidote" to the increased burdens financial regulators have placed on its clients in the wake of the financial crisis.
Eamonn Maguire, managing director of financial management at KPMG, told CoinDesk: "From a perfect storm point of view, having suffered for years from regulation and overhead, this is potentially a light at the end of the tunnel that gives clients relief from costs." Today, KPMG estimates it has between 60 and 70 professionals contributing to a global steering community that unites Asia-Pacific, European and North American employees in discussion on blockchain strategy.
These professionals, in turn, help advise clients interested in designing and implementing use cases for the technology, with KPMG focusing more on front- and back-end design, and testing as opposed to coding, he said.
Maguire voiced his belief that this investment of resources is necessary given that blockchain could "transform" the way things are done for its clients.
"Compared to cloud or data and analytics, blockchain technology has the potential to be much more revolutionary in creating new solutions which don’t exist in the marketplace today," he said.This opinion was […]
