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EY releases new tool for analyzing Bitcoin transactions and on-chain data


Massive 4 accounting agency EY has launched a brand new resolution for investigating on-chain knowledge together with Bitcoin (BTC) transactions. 

The brand new Explorer and Visualizer resolution launched as part of the EY Blockchain Analyzer product suite. In keeping with an announcement on Sep. 27, the beta model is now out there at no cost for people. 

EY additionally mentioned that it’s going to quickly make the answer out there as a service on its blockchain web site.

Customers will have the ability to make the most of search functionalities together with its visualization know-how. It should permit audit groups to discover and observe on-chain knowledge by trying to find particular transactions, addresses and blocks. They could then analyze the gathered knowledge to handle authorized, compliance and fraud dangers. 

EY world forensic and integrity companies lead Andrew Gordon mentioned that the Explorer and Visualizer resolution will make monetary reporting for blockchain-enabled transactions extra handy. It should assist “spotlight potential outliers together with fraudulent red-flag actions,” he added.

Moreover, EY has launched a brand new procurement resolution on its OpsChain platform — EY OpsChain Community Procurement — which is able to expectedly allow firms to privately and securely conduct end-to-end procurement actions on the Ethereum blockchain.

At the moment out there in free beta, the answer is alleged to maneuver enterprise processes from enterprise useful resource planning methods to shared blockchain-based sensible contracts, permitting them to routinely observe volumes and world expenditure. The answer can be anticipated to assist consumers and sellers have parity and work with globally agreed phrases and pricing.

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