Accounting firm Big Four EY has launched a new online data exploration solution, including Bitcoin (BTC) transactions.
The new Explorer and Visualizer solution launched as part of the EY Blockchain Analyzer series of products. According to the announcement on September 27, the trial version is now available for free to individuals.
EY also said that it will soon provide the solution as a service on the blockchain website.
Users will be able to use the search functions in conjunction with the display technology. This will allow audit teams to explore and track data in the network by searching for specific transactions, addresses, and blocks. They can then analyze the collected data to deal with legal, compliance and fraud risks.
Andrew Gordon, Head of Global Forensic Services and Integrity at EY, said the Explorer and Visualizer solution will make blockchain transaction financial reporting more convenient. This, he added, would help “identify potential releases, including fraudulent activities of concern.”
In addition, EY launched a new procurement solution on the OpsChain platform – EY OpsChain Network Procurement, which is expected to allow companies to make private and secure execution purchases on the Ethereum blockchain.
The solution, currently available in a free trial, transforms business processes from ERP systems to public, blockchain-based smart contracts, so they can automatically track global volumes and expenditures. The solution is also expected to help buyers and sellers achieve parity and operate on globally agreed terms and prices.