“Big Four” auditing giant, PricewaterhouseCoopers (PwC) just partnered with a decentralized lending partner, Cred to launch a new stablecoin.
Designed to Bring Trust to US Dollar-Pegged Cryptocurrencies
According to PwC, it wants to help build greater confidence in the crypto-sphere. Doing so could usher in the next 100 million users of such assets, they note.
“We are excited to work with Cred to help increase industry awareness regarding how the asset backed digital token ecosystem can be secured and scaled on behalf of participants along the digital asset value chain, said Grainne McNamara, US Blockchain and Cryptocurrency Leader.
This could very well open the floodgates to trust
“Many investors are looking for crypto assets that can be pegged to a stable fiat currency such as the US dollar, but these assets require a reserve ledger built for decentralized assets, that can provide 100% transparency and value substantiation,” says the latest press release.
The message here is that mainstream financial service providers are pushing toward greater decentralization, transparency and accountability.
PwC is just as excited about blockchain
In fact, it plans to offer a range of blockchain services. It’ll offer services like continuous assurance, risk reporting, and continuous transaction tracking.
Other Big Four companies are on board with blockchain, too.
For example, Deloitte pioneered the Blockchain Lab and Center of Expertise. These institutions created a Deloitte blockchain which will assist with the auditing and supply chain services. In addition, Deloitte will use the blockchain to create a “Minimum Viable Ecosystem”, where key players will be able to interact in the operation of the technology.
For example, EY initiated its own projects and is the only one of the four conglomerates to accept BTC (Bitcoin). They also partnered with Microsoft in supporting content rights and royalty management for the media industry. Even KPMG recognizes the numerous benefits that the blockchain provides for increasing efficiency, reducing fraud, and ensuring a smoother customer experience, for instance.
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