PwC’s Blockchain Venture

Earlier this week, an Australian PwC press release announced the launch of Vulcan, the firm’s new blockchain-based platform for digital transactions.  Now remember, their competitor IBM has been out there in this for a while now.  And as we’ve often noted, blockchain can cover just about any industry at this point. 

According to their press release:

“Vulcan’s services include digital asset wallets, international payment processing, and investment and trading services, and will soon offer point-of-sale and merchant services and the ability to create and support native digital currencies and rewards based systems. Vulcan has had a lot of pre-launch attention. The platform is currently being piloted by an international banking group and a Central Bank, and being assessed by an airline and another three multinational banks.”

Their website states that they offer Client Services (Wallets, Identity and Merchant/POS), Digital Currency Services (SmartMoney & Payments, Digital Asset Exchange and Rewards & Loyalty), and Governance & Assurance Services (Business Intelligence & Analytics, Risk Management & Reporting, and Regulatory Compliance).  All in all, that sets forth quite a robust and varied platform, and indeed they further address that in the press release. 

“Vulcan has been built by PwC in conjunction with enterprise blockchain solutions provider Bloq, blockchain integration, reporting, compliance and analytics provider Libra, and digital identity start-up Netki. In this regard, the Vulcan platform enables Fintech start-ups and existing innovative technology companies to gain access to PwC’s global client base and co-develop new product offerings.”

Read Full Press Release at PWC.com