KPMG, Aurachain announce new blockchain partnership

Big four auditing firm KPMG announced a partnership with blockchain development firm Aurachain that it believes will accelerate clients’ digital transformations.

According to a Nov. 9 announcement, the Romanian subsidiary of KPMG aims to leverage Aurachain’s development platform to build its customers quick and simple apps and blockchain-hosted smart contracts. 

Aurachain CEO Adela Wiener explained that the firm allows organizations to deliver “enterprise grade software solutions in days” through a low-code solution that needs much less custom-written code. She said she expects that by leveraging KPMG’s understanding of client business operations the two firms will spawn a “portfolio of operational solutions.”

KPMG and Aurachain plan to jointly enable customers to build blockchain-enabled solutions that will “massively accelerate their digital initiatives, build innovative solutions in days and ultimately transform their operations in much shorter time frames than previously possible.”

The director of digital solutions at KPMG’s operation in Romania, Anemari Ionescu, explained that the firm’s “advisory team will go through a period of technical training and we will be able to offer complex digital transformation projects to our clients in Romania and the Republic of Moldova.”

Major auditing firms show interest in crypto

Major auditing firms show that they believe blockchain technology implementations have great potential through their investments in such endeavors. As Modern Consensus reported at the end of October, KPMG also partnered with cryptocurrency market and network data firm Coin Metrics to deliver crypto data, insights, proprietary analytics, and cryptoasset services. In late February Laszlo Peter—head of blockchain services at the firm—said:

“Blockchain continues to be a key investment area, and we’re really starting to see large corporates and governments get in on the action.”

In South Korea, Big four auditing firm EY leads the consortium that was the only bidder for conducting the pilot program of a digital currency for the local central bank in October.