'Big Four' Firm KPMG Joins Blockchain Advocacy Group

'Big four' consulting firm KPMG has announced it is joining the industry trade group, the Wall Street Blockchain Alliance.

AccessTimeIconNov 16, 2017 at 5:10 a.m. UTC
Updated Sep 13, 2021 at 7:10 a.m. UTC

Accounting giant KPMG has become the latest member of the Wall Street Blockchain Alliance (WSBA).

Joining the non-profit trade association as a corporate member, KPMG will assume a seat on its board of directors, a press release stated today. Eamonn Maguire, global leader for KPMG’s digital ledger services, said in statements that blockchain is "maturing" with regard to its production phase and has the future to "dramatically impact" the financial industry.

With the existing corporate members including BlockEx, Blockchain Intelligence Group, Calypso, among others, KPMG will use its position in the group work to facilitate the growth and adoption of distributed ledger technology across all financial markets.

Ron Quaranta, Chairman of the WSBA, said:

"We look forward to collaborating with them [KPMG], as our global members and indeed the world, begin to implement blockchain innovations across financial markets and beyond."

The move marks the latest consortium effort for KPMG, which last year launched a blockchain services suite, partnered with Microsoft to further its industry exploration and began speaking openly about its belief the technology could impact its clients.

KPMG Image via Flickr 

DISCLOSURE

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.

Trending

1
CoinDesk - Unknown
Three Arrows Capital Files for Bankruptcy in New York Tied to British Virgin Islands Proceeding

A British Virgin Islands court ordered Three Arrows' BVI branch into liquidation earlier this week.

CoinDesk - Unknown
2
CoinDesk - Unknown
Cosmos-Builder Ignite Cuts Headcount by More Than 50%, Ex-Employees Say

The reductions come amid a crypto market crash, and after the return of Ignite’s controversial ex-CEO.

CoinDesk - Unknown
3
CoinDesk - Unknown
India's Day Of Reckoning With ‘Most Controversial Crypto Tax’ Is Here

The country's 1% TDS is predicted to exacerbate negative market sentiment and add to the woes of the crypto community.

CoinDesk - Unknown