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Ernst & Young taps ZK-proofs on Ethereum to automate contracts

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Ernst & Young, a Big Four accounting firm, has launched a contract automation platform that leverages ZK-proofs on Ethereum.

EY said it chose Ethereum instead of a private network as it is cheaper, more confidential and prevents a party from gaining a “strategic advantage” over another.

Called the EY OpsChain Contract Manager , the solution will help private businesses execute complex business agreements in a timely, confidential and cost-effective manner, the firm EY said it chose Ethereum — a public blockchain — instead of a private network as it would prevent a party from gaining a “strategic advantage” over another and reduce the risk of sensitive business information being leaked.

 

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