Crypto and blockchain investments continue to grow thanks to ever-rising investor interest, according to a new report from Big Four accounting firm KPMG. Titled “Pulse of Fintech H1 2021,” the study covers global investment activities in different financial technology verticals for the first half of the year. It details 2,456 investment deals worth $98 billion made between January and June. One of the top fintech trends for 2021 is the explosive growth in the crypto and blockchain investments, the report reads. The first six months of 2021 saw 548 investments activities, including venture capitals, private equities, and mergers and acquisitions …

International accounting firm KPMG has unveiled its blockchain based Climate Accounting Infrastructure (CAI) solution to help organizations measure, report, and offset their greenhouse gas emissions. CAI uses blockchain to securely store environmental data in a financial system as part of organizations’ climate risk assessments and asset valuations. It aims to help companies meet environmental, social, and corporate governance (ESG) targets. The solution integrates an organization's existing systems, including IoT sensors, with external data sources to establish a verifiable trail of emissions and offsets recorded on blockchain. The accounting giant collaborated with data provenance and tracking providers Context Labs and Prescriptive …

The Office of the Comptroller of the Currency, a division of the United States Treasury that supervises banking in the country, on July 22, issued an interpretive letter clarifying that nationally chartered banks are allowed to provide cryptocurrency custody services to their customers extended to storing cryptographic keys associated with the currencies. In its letter, the OCC recognizes the current need for banks and other financial service providers to leverage blockchain technology and provide related services to their customers. In addition to national banks, this permission extends to state banks and to loans/savings associations, also known as “thrifts.” What will …

Big Four accounting firms like KPMG and Deloitte will become an important part of the decentralized finance — or DeFi — in the coming decade, according to Berlin-based non-profit think tank dGen. In its report titled “Decentralised Finance: Usecases & Risks for Mass Adoption,” dGen focuses on what it calls “the hottest topic in the blockchain industry today.” According to dGen, although DeFi is still in its infancy, it “could leapfrog the current FinTech industry, providing a new structure of financial services” in the years to come. The researchers back this thought up by making a number of bold predictions …

Big four auditing firm KPMG launched a cryptocurrency management suite with analytic features. According to a June 22 announcement, the new KPMG Chain Fusion suite is meant to allow financial technology companies to more easily offer crypto asset services on an institutional scale. The news follows a KPMG report which suggested that institutional custody services are of the utmost importance. Ensuring compliance for crypto businesses Crypto assets function very differently compared to traditional assets when it comes to technology infrastructure, operational mechanics, and inherent risks. Those differences translate to challenges in data management which are sufficient to meet customer account …

Owning cryptocurrency is still considered a risk by institutional investors, according to a March 2 KPMG report shared with Bloomberg. The accounting firm estimated that more than $9.8 billion worth of crypto has been stolen since 2017. The findings revealed that lax security and poorly written code were responsible for most thefts. As institutional investors adopt Bitcoin (BTC) and Ethereum (ETH) to their portfolios, securing the tokens becoming a critical issue, KPMG argues. The need to satisfy this market demand resulted in several companies offering custody services, both from traditional companies like Fidelity and Intercontinental Exchange, as well as crypto …

Accounting giant KPMG’s US blockchain lead, Arun Ghosh, predicts that blockchain, combined with the Internet of Things (IoT) will be used to manage climate change in 2020. IoT is a term for systems of interrelated devices that are embedded with sensors, software and network connectivity that enables them to collect and exchange data. According to a list of 6 blockchain predictions KPMG shared with Cointelegraph, Ghosh noted: “The convergence of these technologies is enabling organizations to accelerate environmental governance, with blockchain’s chain of custody being deployed as a central component to driving sustainability.” Data shows climate change, but blockchain needed …

Big Four audit firm KPMG has officially launched a blockchain-based track and trace platform in Australia, China and Japan. Dubbed KPMG Origins, the tool is designed to increase transparency and traceability of processes in multiple industries such as agriculture, manufacturing and financial services, the firm announced on Nov. 28. The official launch of KPMG Origins in Australia, China and Japan comes after successful pilot implementations with clients in those countries, the press release notes. Trial participants include Cane Growers and SunRice Incorporating a number of emerging technologies like blockchain and the Internet of Things, KPMG Origin intends to improve supply …

Last week, Big Four firm Deloitte unveiled a mobile platform designed to host blockchain networks on a small scale for demonstration purposes. The product is “based on client interest in understanding blockchain capabilities in live interactions," as per the press release. With this move, the Big Four companies — comprised of Deloitte, PwC, Ernst & Young (EY) and KPMG — continue their expansion into the field of blockchain. Combined, the firms brought in over $148 billion in revenue last year, as they handle over 50% of audits for both public and private companies. Consequently, their presence in the crypto space …

The United States Food and Drug Administration (FDA) has partnered with four global high-profile firms to apply blockchain in the drug supply chain, tech media outlet ZDNet reports on June 13. The FDA has reportedly teamed up with companies including IBM, Walmart, Big Four auditor KPMG, and the world's oldest pharma firm Merck in order to build a proof-of-concept (PoC) blockchain network to share and track data on distribution of prescription drugs. According to the report, the initiative is connected with the United States Drug Supply Chain Security Act (DSCSA) and intends to assist the FDA — as well as …

Big Four auditing firm KPMG has identified the top four skills needed for a blockchain-related career, in a press release shared with Cointelegraph on May 16. KPMG suggests that an increasing number of companies will investigate blockchain technology this year. “Blockchain projects will not succeed or scale without a multifaceted team that goes beyond technologists,” the firm states, thus identifying the four major skills needed for a career in the industry. KPMG argues that the successful deployment of blockchain tech depends on professionals with both technology literacy and business acumen. The latter purportedly requires a deep understanding of specific processes …

Most tax and finance executives do not consider adopting blockchain technology, according to a recent survey conducted by Big Four auditing firm KPMG. The results of the poll were shared with Cointelegraph on Tuesday, April 9. A poll undertaken during a recent webcast, dubbed “Understanding Blockchain – It’s Not Just About Crypto,” was held in February 2019. KPMG asked around 450 tax and finance executives from different companies about blockchain and other technologies. Generally speaking, the survey has shown that tax and finance executives are seeking different solutions to eliminate routine tasks from their teams’ operations. However, blockchain adoption is …