There’s a lot of hype flying around about blockchain but real world in production use cases are few and far between, leaving many businesses uncertain as to how the technology can actually be deployed.
Step in KPMG and Microsoft, who have decided to join together and launch Blockchain Nodes, which are basically blockchain workspaces designed to promote research and development of blockchain applications for real world processes.
The workspaces will combine Microsoft’s technical know-how with KPMG’s industry knowledge in order to demonstrate use cases for the distributed ledger technology.
Eamonn Maguire, global and US leader for KPMG’s Digital Ledger Services, said: “The Blockchain Nodes will play a critical role in identifying new applications and use cases that blockchain can address.
“They will enable us to work directly with clients to discover and test ideas based on
market insights, creating and implementing prototype solutions that use this innovative technology.”
The focus, somewhat unsurprisingly, will be on applications for financial services, although there are also plans to see how blockchain tech can be used in areas of healthcare, the public sector, and potentially others, to see how it can optimise business processes.
Marley Gray, principal architect program manager, Azure Blockchain Engineering at Microsoft, said: “Together with KPMG’s experience in successfully transforming business models, we are pursuing innovative applications of blockchain technology that will help our customers worldwide achieve their strategic goals.”
Unfortunately for UK businesses that are looking for help in getting started with blockchain products, the Blockchain Nodes will only be in Frankfurt and Singapore, while New York should also get one in the future.
This is far from the first initiative that KPMG has been a part of when it comes to blockchain technology. Last September it introduced a suite of services that are designed to help financial services organisations realise the potential of the technology. Dubbed the Digital Ledger Service, it focused on areas such as securing transactions, automating back office operations and reducing costs.