One of the “big four” audit firms, KPMG, has become the latest corporate member of the Wall Street Blockchain Alliance (WSBA). This announcement was made public on WSBA’s website yesterday.
Along with the membership, KPMG will be granted a seat on the alliance’s board of directors. This partnership serves as a big victory for WSBA, along with the overall adoption of blockchain technology.
WSBA‘s Chairman, Ron Quaranta, stated in the press release:
“As one of the world’s leading professional services companies, KPMG sits at the cutting edge of Blockchain innovation across multiple segments of the global economy. We look forward to collaborating with them, as our global members and indeed the world, begin to implement Blockchain innovations across financial markets and beyond.”
This collaboration illustrates a larger blockchain technology adoption among large-scale corporations. Recently companies such as American Express, Bank of America and Mastercard, have adopted the tech and are integrating it into their systems in certain capacities.
However, the blockchain technology itself has been easy for corporations to jump on board with but cryptocurrencies, on the other hand, are a completely different story. The general turn of the corporations, especially the financial institutes is, “blockchain good, bitcoin bad.”
As things progress and blockchain technology is more widely understood, its current “dark” image should fade.
Chief Technical Officer of COTI, a commerce-focused digital currency startup, Adam Rabie, made a statement about blockchain technology stating:
“Corporate adoption is an essential part of spreading Blockchain technology which was initially viewed as something only for the underground, nefarious communities. The continuing adoption and respect of the Blockchain by major influencers and companies will dramatically alleviate the initial misconceptions over who Blockchain is for and what are its benefits.”
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