- If blockchain technology can validate transactions the way an auditor traditionally does, what’s left for an auditor to do? – PricewaterhouseCoopers LLP’s answer: Validate the validators.
- unveiled a new offering Friday that will provide an outside look at clients’ use of the blockchain—making sure companies are implementing and using it properly, and allowing people within a company to continuously monitor its blockchain transactions
- “There’s going to have to be some kind of independent validation that the technology is functioning as intended.”
- Blockchain faces a host of obstacles to adoption, PwC says—legal and compliance concerns within companies and other organizations, issues of corporate controls and risk management
- As transactions occur on the blockchain, PwC logs them and applies controls and testing criteria, and allows users within a company to monitor, view and test transactions in near real time
initial customers using the product, PwC says, is a major stock exchange that needs to verify its blockchain-based payment process is working as intended
- another customer a digital-wallet provider, which is using the PwC product to verify the processing of its transactions