Leading global professional services company Accenture (NYSE: ACN) is launching a blockchain consulting practice to help prepare the financial services industry. In partnership with Blythe Masters’ Digital Asset Holdings, the new firm will work with institutions implementing distributed ledger technology to improve security, efficiency, client services, and “capture new revenue opportunities.”
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Accenture Joins Forces with Digital Asset Holdings
Owen Jelf, managing director of Accenture’s global capital markets practice, said of the announcement:
Blockchain-enabled technologies are poised to bring huge benefits to the financial services sector over the next decade. By forming this practice, we can help the industry unlock scalable and transformative uses of this innovative technology. Our recent investment and alliance agreement with Digital Asset allows our clients to benefit from a close collaboration that will accelerate blockchain deployment industry wide.
In Accenture’s press release, the company says that they have “formed an alliance” with Digital Asset for the assessment and the execution of blockchain technology. Accenture says that it “will implement as a preferred systems integrator,” by providing a broad array of consulting services. “Accenture will provide a range of consulting and technology services under the agreement – from feasibility studies, business case assessments and operating model design to advisory services on systems architecture, cyber security and cloud consulting, through to full-scale systems integration,” the company said.
The global consulting giant asserts that Digital Asset Holdings’ blockchain solutions improve efficiency, security, and reduce costs significantly. Accenture was a leading investor in the Digital Asset funding round last month that raised over $60 million USD.
Blythe Masters, CEO of Digital Asset Holdings said:
Accenture is a renowned leader in large-scale systems transformation and the development of complex technology infrastructure. Working together, we can dramatically accelerate the adoption of blockchain technology globally. Our products and software combined with Accenture’s expertise at integrating new technologies with existing systems will help institutions reduce settlement latency, risk, operating costs and capital requirements.
Digital Asset has been recently making head waves within the industry with such announcements as its ASX partnership, and recently giving the Hyperledger project to the Linux Foundation.
What do you think about Accenture and Digital Asset’s consulting practice? Let us know in the comments below!
Images courtesy of Shutterstock, Crypto-graphics.com, Accenture and Digital Asset Websites