THELOGICALINDIAN - Deloitte and ConsenSys Action are partnering up to enhance their action blockchain solutions amidst growing burden to bear arobust artefact for the banking industry
Also read: China’s Proposed New Law Recognizes Bitcoin as ‘People’s Rights’
ConsenSys & Deloitte Partner Up
Cryptocurrency enthusiasts accept acclaimed how there is a lot of hype surrounding blockchain technology. Financial institutions may see this as the angelic beaker of accounts for the future. But they do not necessarily understand how the technology works.
However, cyberbanking institutions accept no absorption in the Bitcoin blockchain, due to scalability issues. Plus, they cannot apply ascendancy over the open blockchain either. Deloitte and ConsenSys Enterprise accept congenital their corresponding versions of blockchain technology so far. These clandestine solutions are tailored appear the cyberbanking sector, as cyberbanking institutions abide in ascendancy at all times.
Now that both companies accept partnered up, they will barrage a new apartment of agenda cyberbanking solutions. Deloitte brings an all-encompassing arrangement of audience to the table. ConsenSys is best accepted for its Ethereum-inspired blockchain technology. Moreover, they accept congenital up absolutely some ability in the apple of broadcast ledgers.
More Private Blockchain Solutions
As allotment of this partnership, Deloitte and ConsenSys Enterprise will coact on new blockchain prepositions. Specific capacity were not appear yet, admitting both enterprises will focus on IoT, asset management, and accessory management. None of these projects will use an accessible blockchain standard, however.
Deloitte Consulting Innovation baton for Financial Services Thomas Jankovich stated:
Collaboration with Deloitte is a cogent calamus in the cap for ConsenSys Enterprise. While amalgamation blockchain development with digital identity and banking products is able to banks, many questions remain. This is because private blockchain initiatives such as these will crave a able accord mechanism.
Bitcoin uses proof-of-work to validate affairs about the clock. For now, it charcoal cryptic how this new affiliation will ensure immutability of blockchain records.
What are your thoughts on this new partnership? Let us apperceive in the comments below!
Source: Consultancy UK
Images address of Deloitte, ConsenSys, Shutterstock, public.deloitte.com
