EY To Invest $100 Million in Blockchain

According to an EY press release from 17 May, the investment will accelerate the development of new products, improve user experience and increase market adoption. Carmine Di Sibio, the Chairman and CEO of EY Global, said the company has been investing in blockchain for the past five years and has established itself as a leader in the industry. The planned investment will be used to respond to the needs and challenges of EY clients, she added.

As part of its investment, EY also announced the launch of several new projects and products. The first to launch will be the Testing Studio, part of the second generation of the Smart Contract & Token Review tool on the EY Blockchain Analyzer Suite. It’s intended to be used in complex DeFi ecosystems, as it offers a blend of compliance testing and traditional code review. 

EY teams have also begun contributing the source code to a zero-knowledge proof (ZKP) prototype compiler into the public domain. The compiler, called Starlight, supports the needs of complex business agreements where business logic must be shared between parties at the network level. 

In addition to that, EY also announced that Birra Peroni has become the first industrial client to use the EY OpsChain Traceability. The Italian beer company, part of the larger Asahi group, will use the solution to notarize information and tokenize goods, creating non-fungible tokens (NFTs) on the Ethereum public blockchain.