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

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

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

The brand new Explorer and Visualizer answer launched as part of the EY Blockchain Analyzer product suite. In response to an announcement on Sep. 27, the beta model is now obtainable without spending a dime for people. 

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

Customers will be capable of make the most of search functionalities together with its visualization know-how. It is going to enable audit groups to discover and monitor on-chain knowledge by trying to find particular transactions, addresses and blocks. They might then analyze the gathered knowledge to handle authorized, compliance and fraud dangers. 

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

Moreover, EY has launched a brand new procurement answer 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.

Presently obtainable in free beta, the answer is claimed to maneuver enterprise processes from enterprise useful resource planning techniques to shared blockchain-based good contracts, permitting them to routinely monitor volumes and international expenditure. The answer can also be anticipated to assist consumers and sellers have parity and work with globally agreed phrases and pricing.

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