All big names in the financial market are actively thriving in the crypto market, as it has become a crucial requirement to fulfill.
With the evolution of emerging technology, the number of budding firms is also increasing, which results in more influx and thereby the necessity of auditing and consulting has also been expanded.
Massive organizations such as EY and PricewaterhouseCoopers (PwC) have received plenty of new clients involved in cryptocurrencies. To be able to cater them particularly PwC has brought on as many as 400 blockchain specialists.
On that, Ralph Weinberger who leads their global network assurance methodology group stated, “We are devoting significant resources to how we might provide audit services in not just cryptocurrency, but blockchain.”
Notably, the regulations and awareness regarding cryptos are not worldwide yet. Many countries lack the regulatory systems. It indicates the uncertainty related to the crypto market. Firms like PwC can help emerging companies related to blockchain technology to survive and meet their tax obligations.
PwC is quite aware of the enormous potential in Blockchain technology. The company has a whole subsection of their site devoted to it, in which they proclaim that they’re ready to help.
Here, PwC states, “PwC sees enormous potential for blockchain in financial services. We’ve developed the strategy and implementation capabilities necessary to help financial institutions, technology companies and startups take advantage of this transformative technology. Our global team of experienced business, technology and regulatory leaders can help you identify how blockchain can benefit your organization and how to rapidly move these initiatives forward.”
There are some companies that serve as auditing and consulting firms that can help regarding digital currencies. Apart from PwC, there is ‘Libra’, which recently completed funding. Let’s see how these huge firms assist the region of cryptocurrencies.