KPMG and Microsoft Announce New “Blockchain Nodes”by Fintech News Singapore February 15, 2017
KPMG International and Microsoft have announced the launch of joint Blockchain Nodes, which are designed to create and demonstrate use cases that apply blockchain technology to business propositions and processes. The first joint Blockchain Nodes are in Frankfurt and Singapore, with future plans for a location in New York.
The KPMG and Microsoft Blockchain Nodes –innovation workspaces– will expand on a global alliance, which combines Microsoft’s technical expertise with KPMG’s deep industry and blockchain application knowledge, together with strong connections to the start-up and developer communities.
With a priority focus on applications for financial services, plans are for the Blockchain Nodes to further examine how blockchain technology can optimise business processes and models for healthcare and the public sector, and potentially other industries in the future.
In Singapore, the joint Blockchain Node will be an extension of such an offering and will be developed as part of the existing KPMG Digital Village programme that looks at contextualising innovative solutions to address corporates’ business challenges. The joint Blockchain Node with Microsoft will enable KPMG to scale up and help accelerate its clients’ understanding and adoption of blockchain.
“To make it truly meaningful, we work with innovative start-ups to develop use cases. This translates into a greater range of solutions for the challenges blockchain implementation presents for financial institutions and other industry players,” said Lyon Poh, Head of Digital + Innovation, KPMG in Singapore.
“Together with KPMG’s experience in successfully transforming business models, we are pursuing innovative applications of blockchain technology that will help our customers worldwide achieve their strategic goals,” said Marley Gray, Principal Architect Program Manager, Azure Blockchain Engineering at Microsoft. “The global availability of our Microsoft Azure cloud platform, the hybrid cloud architecture, and multi-tiered security address the specific compliance requirements of clients and help accelerate the use case process.”
Last November, KPMG in Singapore announced the introduction of its Digital Ledger Services, a comprehensive suite of services designed to help companies realise the potential of blockchain capabilities. Offered under KPMG Digital Village, it can help companies with faster deployment of blockchain-related use cases to achieve more secure transactions, streamlined and automated back office operations, and reduced costs.
It also announced the expansion of its strategic alliance with Microsoft to work on blockchain initiatives – with Microsoft providing the Blockchain-as-a-Service platform on Microsoft Azure and KPMG providing its comprehensive suite of services – which will help clients efficiently and securely move to the cloud for storage, while adopting disruptive Blockchain technologies.
“Since we launched our Blockchain-as-a-Service (BaaS) on Microsoft Azure last year, we have been working with our partners like KPMG to develop the technologies and ecosystem that will accelerate the adoption of blockchain globally. We have also been focused on making blockchain work for every business across every industry, because we believe our open platform approach will empower businesses to choose the technologies that work for them to meet their specific needs and solve their industry pain points,” said Alberto Granados, Vice President, Sales, Marketing & Operations, Microsoft Asia Pacific.
“In Singapore, the Blockchain Nodes are an extension of KPMG Digital Village’s drive to deliver tangible outcomes to specific business challenges. By combining start-up technologies with the scalability and security of Microsoft’s solutions, I am excited to see how blockchain technologies can transform businesses,” said Jan Reinmueller, Head of Digital Village.
Featured Picture via kpmg.lu