Big Four accounting firm Deloitte has partnered with Avalanche to improve the Federal Emergency Management Agency’s (FEMA) reimbursement process, Avalanche said in a press release shared with The Chain Bulletin on 16 November.
According to the announcement, the partnership between the two resulted in the “Close As You Go” (CYAG) platform, which aims to simplify and streamline the disaster reimbursement applications to FEMA. Using blockchain technology, the platform will provide state and local officials with a “decentralized, transparent and cost-efficient” system that will improving the accuracy of federal disaster claims. The president of Ava Labs, John Wu, said in a statement:
“Close As You Go features a user-friendly interface backed by the cutting edge of blockchains, helping state and local governments focus on their recovery, rather than extensive claims processes. We’re proud to work closely with Deloitte to offer this new, secure and beneficial technology for communities across the country.”
CYAG uses the “secure environment” of Avalanche’s blockchain to quickly gather, process, and authenticate the required FEMA documentation necessary to demonstrate the eligibility for funding. The platform will not only mitigate risks — by establishing a secure, accessible repository for records — but also reduce the administrative costs by indexing each reimbursement request using customized workflows.