The idea that enterprises could use a public blockchain network is usually met with a lot of skepticism and raised eyebrows by the senior executives in Fortune 500 company boardrooms. Most of the time, engineers and product owners are even scared to mention any of the public blockchain networks as a viable protocol when designing future solutions. This is all changing now due to the efforts by Ernst & Young, one of the Big Four accounting firms in the world, which just recently held an online conference called EY Global Blockchain Summit 2020 I Going Public, where it disclosed the important work they are doing in the public Ethereum space.
In this three-day event, led by EY Global Blockchain Leader Paul Brody, the audience was presented with information about the latest Ernst & Young blockchain initiatives and partnerships they have established with industry leaders like DELL Technologies DELL and Microsoft MSFT.
First, let’s acknowledge that this was the first enterprise blockchain event conducted completely online and livestreamed on YouTube. More than 50 guest speakers attended. The way the event was organized and handled was very professional and speaks a lot about the people behind it. In our current COVID-19 environment with quarantines and enforced social distancing, this will be the only way to do conferences going forward.
One of the most interesting sessions was the keynote delivered by Paul Brody where he explained the current environment, how EY have started on their blockchain path, what has been accomplished so far with the releases of EY OpsChain and EY Blockchain Analyzer and what is the road ahead. He very skillfully articulated why private blockchains will not succeed in scaling and creating network effects and presented his case on why public networks will bring the needed upside for Fortune 500 companies.E&Y blockchain E&Y