Global advisory, tax and audit firm KPMG LLP is telling clients up north in Canada that blockchain has fully proven itself and to invest in that fintech sector now. While you may think that almost every company around the world is already adapting blockchain applications, that is really not the case. It seems many firms have been holding back waiting for the "fad" to end, or waiting for others to do all the "testing" and refining. So, lets congratulate Paritosh Gambhir, head of blockchain and Partner for Financial Services at KPMG in Canada for fully recognizing that blockchain technology is here to stay.
(Bill Taylor/ Fintek Capital)
"Audit, tax, and advisory firm KPMG LLP said that blockchain adoption is on the rise and that Canadian companies should take advantage of the emerging technology.
In a recent press release, KPMG said the “fog around blockchain” is lifting as more companies look to the technology to achieve faster and more secure transactions, improve efficiencies in areas of administration and customer service, and to reduce costs.
Recent blockchain pilots will become credible business models
Paritosh Gambhir, head of blockchain and Partner for Financial Services at KPMG in Canada points to blockchain adoption in the “private, public and non-profit sectors.”
“Financial services companies, for example, have been thinking outside the box in their efforts to speed up and simplify payments, streamline securities trading and settlement and back office operations, develop smart contracts, and enhance loyalty and rewards programs,” said Gambhir.
There are indeed many examples of where banks and financial services companies, global shippers and trade organizations, and companies across every sector, are exploring blockchain technologies. This has resulted in many pilots, trials, and investigations, and the next step for the industry is for more of these to turn into real-world applications..."