Australia: EY Unveils Blockchain Solution to help SMEs
Australia-based P2P human capital company Block2 has inked a strategic partnership with Big Four accounting and advisory firm EY to help develop 2Mota – a blockchain solution geared toward SMEs. This, according to a report by Consultancy.com.au, November 25, 2019.
EY to Aid In Blockchain Solution Development
Block2, an Aussie startup that looks to change the paradigm of the global sharing economy system has onboarded EY to develop 2Mota that offers a slew of features leveraging the benefits of distributed ledger technology (DLT).
Per sources close to the matter, two of the most prominent features of 2Mota include introduction and management of new customers and at the same time, enabling resource optimization in multiple domains including employees, equipment, and workspaces.
Interestingly, curiosity toward emerging technologies like blockchain, artificial intelligence (AI), and big data, isn’t only limited to the large financial institutions and conglomerates of the island nation.
Australia’s SME sector makes for a substantial part of the country’s economy. 2Mota aims to further streamline operations in the small and medium enterprises space by helping save these firms save their operation and financial costs.
Commenting on the development, Block2 founder and chief executive, said:
“Small and medium-sized businesses, like automotive repair companies, must manage demand to ensure success in an increasingly competitive environment. Block2’s peer-to-peer marketplace addresses challenges in Australia’s automotive repair industry, whereby the lack of supply and demand management is impacting business productivity, investment planning, and growth.”
Similar thoughts were expressed by EY Blockchain Leader Paul Brody, who said:
“As blockchain technology continues to evolve around the world, we are able to find new ways to improve efficiency and limit unnecessary losses. The use of a blockchain-based peer-to-peer marketplace is an efficient means of introducing elasticity into sectors where traditional fixed ownership presents barrier to profitability. Block2’s marketplace will allow companies, particularly SMEs, to optimise resources and make best use of the human capital available to them.”
EY Going All-In on Blockchain
Earlier in April, BTCManager informed how EY had unveiled Ethereum blockchain-powered Nightfall protocol.
On a recent note, BTCManager reported how EY had used DLT to promote accountability in governments.