KPMG Creates Tools for Cryptcurrencies Management
KPMG, one of the Big 4 in auditing and consulting, announced the creation of a new product that helps data management from multiple platforms including blockchain platforms (different cryptocurrencies) to be compliant with the existing regulatory framework regarding financial statements’ issue.
The product development lasted over a year while Chain Fusion’s main goal is to create a standardized data model for any kind of transaction, held from any company, independently from the fact that the transaction derives from blockchain infrastructures or not.
The development of the new toolbox started as many companies that used cryptos faced accounting and regulation issues regarding crypto asset management. With this toolbox, large corporations can include all of their transactions under a single management system, regardless of their originality.
Indeed, a move like that may allow larger companies to try new perspectives with cryptos in their business model, without worrying about legal issues.