EY lays out its digital blueprint as ‘now, next and beyond’ with blockchain use cases easily fitting into the construct
This fundamental playbook repeated in many of the use cases discussed in breakout sessions at EY Global Blockchain Summit:
- Early efforts focus on cross-collaborative business entities establishing business rules.
- The rules become the digital contracts.
- The first use case is either low-dollar-value or intracompany; the sponsoring enterprise working with EY becomes “customer zero.”
- Once fully operationalized, EY and the client partner look for ways to enroll additional participants to:
- Broaden the use case into an industry utility
- Extend the underpinning business logic into adjacent industries for the repeatable capability to build out industry utilities
Gaming: The editors for the EY-Microsoft playbook
Much of the content shared at the 2018 event revolved around EY’s ongoing collaboration with Microsoft to deliver a blockchain royalty payment system to track developer community activities in the gaming space. This year, EY and Microsoft touted the collaboration on many different levels that easily fit into the “now, next and beyond” construct.
EY Tesseract: A clear view not to be confused with a short distance
The Tesseract-like aspirational objective is autonomous vehicles; period. To achieve the objective requires prototyping the IoT sensoring and business rules ahead of when specific technologies and revised public policy regulations have been hardened. Interim steps revolve around building out the ecosystem participants required to allow autonomous vehicles to be serviced absent human accompaniment as the vehicles course through the physical world based on their digital instructions.
The third annual EY Global Blockchain Summit gave an indication of the rapid acceleration in adoption that had EY describing this as “Year 0.” With hockey stick charts for the number of proof of concepts (POCs) and live applications, blockchain appears poised to deliver on its anticipated promises to transform business interactions and greatly reduce operating expenses while creating new business services networks. The event was held at 32 Old Slip in the heart of New York’s financial district with several hundred attendees and 28 breakout sessions organized in four tracks consisting of blockchain business applications (where TBR spent most of its time); blockchain assurance, tax & compliance implications; financial services and the token economy (where TBR attended a session on decentralized finance); and blockchain technology.