Blockchain
EY Launches Ethereum-Based Blockchain Tool to Simplify Business Agreements
On Wednesday, the accounting firm EY launched a blockchain solution based on Ethereum with the aim of assisting businesses in executing intricate agreements, reducing costs, and upholding security.
Dubbed the EY OpsChain Contract Manager (OCM), this solution is crafted to address challenges such as managing business agreements across internal and external operational and technological barriers. It facilitates the synchronization of data among multiple parties and enforces critical terms through smart contracts, encompassing standardized pricing, volume discounts, rebates, and strike prices.
EY cited data from Zion Market Research, projecting that the global smart contracts market will reach $1 billion by 2030, with a compound annual growth rate (CAGR) estimated at around 24% between 2023 and 2030.
Unveiled during the annual EY Global Blockchain Summit, EY OCM operates on the Ethereum blockchain, ensuring decentralized operation within a dependable environment.
According to Paul Brody, EY’s global blockchain leader, deploying on a public blockchain offers not only cost-effectiveness but also scalability, enabling many-to-many integrations on an open platform without any single entity having undue control over the network.
EY OCM functions via an API, simplifying the management of smart contract providers. Firms can establish personalized user interfaces to configure standard pre-built contracting models, including Power Purchase Agreements for renewables.
Moreover, the tool is capable of automatically validating contract terms in real-time, monitoring policy adherence, and promptly alerting users to any discrepancies. This prevents non-compliant transactions and mitigates strategic advantages for buyers or sellers while reducing the high costs associated with establishing and operating a private network.
Furthermore, EY’s involvement in blockchain extends beyond OCM. In October 2019, the company introduced a blockchain solution aimed at enhancing government transparency and ensuring accountable outcomes for citizens. Additionally, it facilitated budget, expenditure, and outcome tracking.
In March 2020, EY launched the Baseline protocol, a suite of public domain blockchain tools for enterprises developed in collaboration with ConsenSys and Microsoft.
In September 2021, EY announced plans to integrate Polygon with its flagship blockchain services, including EY OpsChain and EY Blockchain Analyzer.
Source: cryptonews.com
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Blockchain
RevoluPAY Enhances Financial Solutions for Humanitarian Aid with MillionBridges and the Norwegian Refugee Council
A lawmaker in Russia has stated that there are no plans for a total ban on cryptocurrencies in the country. This statement provides clarity on the regulatory stance of the Russian government regarding cryptocurrencies and addresses concerns about potential prohibitive measures.
The clarification from the lawmaker indicates that while Russia may be considering regulations to govern the use and trading of cryptocurrencies, there are no intentions to outright ban their existence or usage. This stance suggests a more nuanced approach to cryptocurrency regulation, aiming to balance innovation and development in the digital asset space with regulatory oversight and consumer protection.
The statement may help alleviate uncertainty and fears within the cryptocurrency community in Russia, as well as among international investors and stakeholders. Clear regulatory guidelines and a willingness to engage with the crypto industry can foster a more conducive environment for innovation, investment, and economic growth.
The lawmaker’s assertion that there are no plans for a total crypto ban in Russia provides reassurance to market participants and signals a potentially more constructive approach to cryptocurrency regulation in the country. It remains to be seen how regulatory frameworks will evolve in Russia, but this statement suggests a willingness to engage in dialogue and develop regulations that support the growth of the crypto industry while addressing regulatory concerns.
Source: crypto.news
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Blockchain
A New Cyberpunk-Inspired Meme Coin on the Solana Blockchain Set to Revolutionize the Crypto World
A new cyberpunk-inspired meme coin on the Solana blockchain is poised to revolutionize the crypto world. This announcement highlights the emergence of innovative projects and tokens in the cryptocurrency space, leveraging the unique features and capabilities of blockchain technology.
The new meme coin, inspired by the cyberpunk genre, represents a novel approach to engaging with the crypto community and capturing the imagination of enthusiasts and investors. By tapping into the cultural aesthetics and themes of cyberpunk, the project aims to differentiate itself in a crowded market and attract attention from a diverse audience.
Built on the Solana blockchain, the meme coin benefits from the platform’s high throughput, low transaction fees, and scalability, offering users a fast and efficient experience for transacting and interacting with the token. This choice of blockchain infrastructure reflects a strategic decision to leverage cutting-edge technology and capitalize on the growing popularity of Solana within the cryptocurrency ecosystem.
The press release suggests that the new meme coin has the potential to disrupt the crypto world and redefine the meme coin landscape. By combining elements of cyberpunk culture with blockchain technology, the project aims to create a unique and engaging experience for users while delivering value and utility to holders of the token.
The announcement of a cyberpunk-inspired meme coin on the Solana blockchain underscores the dynamic and innovative nature of the cryptocurrency industry. As blockchain technology continues to evolve and mature, we can expect to see more creative projects and tokens emerge, pushing the boundaries of what is possible in the crypto world.
Source: tech.einnews.com
The post A New Cyberpunk-Inspired Meme Coin on the Solana Blockchain Set to Revolutionize the Crypto World appeared first on HIPTHER Alerts.
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