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EY to offer Chinese government its corporate blockchain on "localized" Etherium

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9 months ago

Consulting giant EY is partnering with China's national platform BSN to bring its enterprise blockchain OpsChain to the Chinese market.

According to a statement from EY, the firm plans to offer its EY OpsChain network to developers in China through Blockchain Open Source (BCOS), which runs on China's national Blockchain Service Network (BSN) platform, as well as through a "localized" version of Etherium configured to integrate with BSN.

BCOS is an open-source enterprise blockchain developed by the Financial Blockchain Shenzhen Consortium (FISCO), a joint initiative of several Chinese technology firms, including Tencent and Huawei. BCOS is integrated with BSN, which is a centralized infrastructure that allows developers to build decentralized applications based on supported publicly available blockchains - such as Ethereum, Polkadot, etc.

OpsChain will be EY's first solution at BSN, and will use the platform as it integrates and deploys EY Blockchain Analyzer for blockchain analytics and financial statement auditing.

"Through FISCO BCOS and Ethereum, EY professionals will be able to serve clients in China and throughout the Asia-Pacific region and connect those users to the global blockchain. I see this as a key step forward in connecting the world's largest economies through blockchain," said EY Global Blockchain head Paul Brody.

To satisfy Chinese regulators, OpsChain will initially be available in a "localized" version of Etherium at BSN, subject to approval by Chinese regulators.

The BSN platform was launched last April 25 with the support of the Chinese government, and in July the developers announced that BSN would support more than 100 public blockchains. According to a Feb. 1 blog post, BSN completed its first localization package, which included the Cosmos blockchain.

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