The blockchain latest news today show that the growth and adoption of the technology in the enterprise space is at full steam at the moment, with many key players joining in at these fundamental times. The latest news put a couple of accounting giants in the focus – adopting the distributed ledger technology as a means to access blockchain risks.
We are talking about the Accounting Blockchain Coalition (ABC), an alliance that is dedicated to educating businesses and organizations on accounting matters which are relevant to digital assets and blockchain. The coalition, known for adding another institutional and trusted edge for the people looking to enter the blockchain and digital asset space, is in some powerful company hands.
As the updates show, the accounting giants have members which include the names of BDO USA; BPM USA; ConsenSys; Crowe Horwath; Michigan State University Eli Broad College of Business; Microsoft; RSM and Vertex, Inc.
Both BDO and BPM are massive accounting firms in the US and have branches worlwide. BPM, for example, is rated in the top 50 accounting firms and BDO boasts with 60 offices and more than 400 independent Alliance firm locations nationwide.
As the latest cryptocurrency news show, the main aim of of the coalition is to provide active guidance on the best practices and serve as a knowledge-sharing platform as organizations address the sweeping changes and resulting opportunities that are created by the implementation of blockchain.
The accounting giants have taken a large step in making the adoption of blockchain easier in many ways. With the new risk assessment tool, the blockchain technology will be deployed in a unique way – allowing accountants, auditors, CFOs, compliance leads, and others active guidance to evaluate digital assets and blockchain technology.
More impressively, the accounting giants suggested many actions for mitigating threats. The coalition is a positive step towards the growth and spreading of blockchain technology in enterprise sense.
According to RSM US’ Bennett Moore who is the co-chairman of the organization, the new blockchain tool will assist users who are considering a risk assessment of certain common processes associated with the use of blockchain technology. It can also be used as a baseline for businesses that are using or considering using blockchain technology within their organization.
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