KPMG and Microsoft are looking to launch blockchain ‘nodes’, which aim to create and demonstrate use cases which apply blockchain technology to business propositions and processes.
The nodes, or innovation workspaces – the first in Frankfurt and Singapore with New York to follow – will play a ‘critical role’ in identifying new applications and use cases for blockchain, KPMG said. Aimed at applications for financial services, these Nodes will further examine how blockchain technology can optimise business processes and models for healthcare and the public sector, and potentially other industries in the future.
“The blockchain nodes and the Microsoft alliance enable fresh approaches to solving clients’ complex issues as well as opening the door to new opportunities,” said Jens Rassloff, KPMG global head of alliances. “We are also inviting the startup ecosystem to participate in use case development, which will help enable a greater range of solutions for the challenges blockchain implementation presents for financial institutions and other industry players.”
Eamonn Maguire, global and US leader for KPMG’s digital ledger services, added: “The [nodes] will enable us to work directly with clients to discover and test ideas based on market insights, creating and implementing prototype solutions that use this innovative technology.”
In addition, KPMG also expanded its strategic alliance with Microsoft to work on blockchain initiatives. Microsoft will provide its blockchain as a service (BaaS) platform on Microsoft Azure and KPMG will provide its suite of services to help clients efficiently and securely move to the cloud for storage, while also adopting disruptive blockchain technologies.