EY Launches Ethereum-Based OpsChain Contract Manager for Business Contracts

Ernst & Young has launched OpsChain Contract Manager , an Ethereum solution that leverages zero-knowledge proofs technology.EY, one of the top “big four” accounting firms alongside Deloitte, KPMG, and PwC, has been exploring the business applications of zero-knowledge proofs since at least 2018.to facilitate the secure management of business contracts on a public blockchain.

The development of OCM came from EY’s previous client engagements, where it realized that contract term accuracy could be enhanced while significantly reducing cycle times and administrative costs by approximately 90% and 40%, respectively.

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