Ernst & Young Report: Prepare For Blockchain ‘Critical Mass’

Ernst Young (EY), the third largest multinational professional services firm, believes blockchain technology is poised for critical mass. In its latest report, “Blockchain Reaction: Tech companies plan for critical mass,” the company explains how tech firms will experience impact through the blockchain’s “potential-rich, but still immature, technology.”  

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Critical Mass Is Coming, and There May Be an Inflection Point That Excludes Firms

Ernst  YoungEY provides assurance, financial audits, consulting and advisory services to companies all around the world. In its recent report on blockchain technology, the company explains the potential of this emerging landscape and what challenges currently prevent it from reaching critical mass.

The paper has a few contributors, including Angus Champion de Crespigny, Anne Freden, Paul Brody, and other EY executives. EY’s Financial Services Blockchain and Distributed Infrastructure Strategy Leader Angus Champion de Crespigny explains how firms should look into this new protocol:  

“We recommend companies not focus on how this technology fits into their current business but instead look at what their products and services look like in a blockchain-enabled world.”

The multinational firm says that blockchain technology could be the “right tech,

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