Big Four Firm KPMG Partners With Blockchain Co. Guardtime to Develop Tools for Businesses

Big Four auditor KPMG announced it had partnered with enterprise blockchain company Guardtime to offer blockchain-based services to clients in a press release on Feb. 20.

KPMG, which has experimented with blockchain before, has entered into a strategic alliance with Guardtime and will work on various products and services using its platform.

“Using KPMG's blockchain enablement services, KPMG professionals will work with Guardtime to provide strategy, assessment, as well as design and implementation services,” the press release explains.

Over the past three years, Guardtime’s technology has made its way into various corners of the global economy, including via partnerships with governments such as Estonia for its e-government scheme.

Last year, the firm partnered with fellow Big Four member EY to create a blockchain insurance platform for the shipping industry, with Maersk coming on board as a trial client.

Arun Ghosh, KPMG's National Blockchain leader, meanwhile commented:

“KPMG's deep business and technical experience along with Guardtime's blockchain platform drives business transformation in areas that are encumbered with manual processes and where data accuracy, trust, and security are paramount.”

In a November report, analysts at KPMG went beyond blockchain, also identifying cryptocurrency as an important phenomenon, but arguing that institutional investment in the market was essential for growth.