EY Blockchain ranked top three by HFS analyst firm

EY has been ranked third in HFS Research's annual Top 10 Enterprise Blockchain Services Report, based on the organization's bold public blockchain market vision and software development-led go-to-market strategy. HFS, a technology analyst firm focused on defining the future of business operations, assessed 13 leading blockchain service providers on core criteria, including ability to execute on blockchain engagements, scale and growth, innovation, and voice of the customer, recognizing the top 10 providers that best met these standards.

EY was also ranked a top-three performer in innovation as it relates to developing blockchain solutions. In the ranking, HFS recognized EY for its strength in deep integration of business process designs with audit, tax and compliance requirements, noting that the global organization's blockchain solutions include the capabilities that help enterprises transact securely, safely and in full regulatory compliance on both private and public blockchains. HFS also noted that the singular global team structure of the EY blockchain practice differentiated the organization from other consulting-led organizations within the report.

Paul Brody, EY Global Blockchain Leader, commented, "It is great to be recognized for our ground-breaking work in core blockchain technology and how we have industrialized the security and privacy tools needed by enterprises for processes like product traceability and procurement.  We are advancing our vision of how public blockchains will give integrate business ecosystems with the same efficiency and power that ERP did inside the enterprise."

The report highlighted the EY OpsChain and EY Blockchain Analyzer platforms, as well as EY investments in tools for emerging technologies and privacy protocols for public blockchains, tokenization, the testing of smart contracts, tokens and identity verifications.

Saurabh Gupta, HFS Research Chief Research Officer, added, "The fourth-generation EY OpsChain solution provides an enterprise-grade secure and collaborative environment that will help drive procurement and significantly increase the number of transactions, allowing procurement professionals to focus on becoming a strategic collaborator."