6 Blockchain Startups Accept New Ernst & Young 'Challenge'

Ernst & Young has selected six blockchain startups for its first distributed ledger startup challenge.

AccessTimeIconSep 6, 2016 at 4:40 p.m. UTC
Updated Sep 11, 2021 at 12:28 p.m. UTC

Ernst & Young has announced six startups will participate in its first-ever startup contest focused exclusively on blockchain.

Over a six-week period beginning next week, the firms will work with mentors from the "Big Four" accounting firm to build products focused on digital rights management and energy trading.

The founder Ernst & Young's Startup Challenge, Jamie Qiu, said that the selected startups represent his firm's belief that the potential benefits of blockchain expand beyond the financial sector.

Qiu described the challenge's dual focus:

"These two key areas are ripe for change and we believe blockchain has the potential to bring about notable enhancements in productivity and transparency."

The selected startups include Adjoint, BitFury, BlockVerify, BTL Group LTD, JAAK and Tallysticks.

Over the course the six week program, the startups will work with mentors at Ernst & Young's Canary Wharf, London, offices to build products aimed at ensuring intellectual property rights can be more easily managed and to make it easier for new business models to evolve in the energy trading space.

Mentors include Oliver Thomas, Viacom’s director of strategy and digital; Graham Davies, PRS for Music's director of Strategy and Digital; Matt Phipps-Taylor, head of insights and innovation for PPL; and Peter Walesby, Discovery's vice president of finance.

This third annual Startup Challenge is the first to focus exclusively on blockchain applications, with last year’s cohort working to build new supply chain technology.

Concluding 20th October with a demo of the products, selected prototypes will be given additional opportunities to develop their pilots with its support, Ernst & Young said.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.


CoinDesk - Unknown
Ethereum DeFi Service Porter Finance Shutters Bond Platform, Citing Lack of 'Lending Demand'

The venture capital-backed Porter Finance said the lack of “institutional fixed income DeFi adoption” drove its decision.

CoinDesk - Unknown
CoinDesk - Unknown
Meta Affirms Digital Collectibles Plan Despite Crypto Crash: Report

New fintech head Stephane Kasriel said the company's plans to bring NFTs to its users have not changed "in any way."

CoinDesk - Unknown
CoinDesk - Unknown
Voyager Seeks Bankruptcy Protection Amid Crypto Credit Crisis

The Toronto-based lender filed for Chapter 11 bankruptcy in New York late Tuesday.

CoinDesk - Unknown
CoinDesk - Unknown
Binance Resumes Local Currency Deposits with Brazilian Payment System Pix

Withdrawals should be resumed “shortly,” said the company, which had suspended that feature on June 17.

CoinDesk - Unknown