Blockchain is digitalizing and integrating supply chains by connecting business operations and finance at the ecosystem level.
The technology has the potential to change the dynamics of system integrations not only for businesses, but for governments and academia as well. Instead of suppliers having to integrate to customized systems in large enterprises and organizations, they can instead interact with standardized apps and tokens on the public blockchain network, protected by privacy technology.
EY blockchain solutions support the complete business lifecycle from contracting, ordering, fulfilling, invoicing, to payments – from doing business on a blockchain to getting insight into what happened on the blockchain. EY teams also know how to manage the tax and audit requirements for blockchain-based transactions, so companies can handle the regulatory and tax complexities of an emerging ecosystem.
