Chainlink Partners PwC to Accelerate Enterprise Blockchain Adoption

The creator of the Web3 software platform Chainlink, Chainlink Labs, has partnered with accounting and consulting firm PwC. As part of their partnership, the two organizations intend to “help accelerate enterprise adoption of blockchain innovation,” according to Dimitri Gross, a manager at PwC in Germany.

Chainlink Labs, based in the US, is a provider of smart contracts on the blockchain. The company builds smart contracts that apply to a variety of industries, including banking and financial services, Forex, aviation, meteorology and insurance.

The latest PwC research indicates that the potential benefit of such smart contracts is enormous. In their ‘Time for Trust’ study, business specialists discuss how blockchain technology has the ability to “change the world of business, financial procedures and society as a whole.”

“There are significant opportunities for blockchains and smart contracts to change worldwide sectors.” However, technical obstacles such as insufficient secure connectivity between enterprise platforms and blockchains and absence of interoperability between different chain systems have traditionally hindered the widespread adoption of enterprise blockchains.”

Cooperation becomes necessary at this point. Gross stated, “As the most widely used blockchain middleware in the Web3 environment, Chainlink streamlines blockchain technology for enterprises and allows them to utilize its full capabilities.”

“We are excited to equip companies with the expertise, integrations and tools they need to engage in the expanding blockchain economy in a frictionless and secure way.”

Tokenization represents some of the services that Chainlink Labs and PwC intend to concentrate on. This includes ecological credits, security tokens and property tokenization. The decision comes amid growing interest in blockchain technology and tokenization. In Singapore, for example, JP Morgan and DBS Bank are evaluating permissioned systems on the public blockchain under the supervision of the Singapore Monetary Authority. Meanwhile, a number of institutions in the UAE are working on token-based services.

William Herkelrath, director of business development at Chainlink Labs, stated that the Web3 firm is excited to partner with PwC. Our collaboration will facilitate the secure integration of current business applications into blockchain networks.

The partnership strengthens PwC’s expanding footprint in the blockchain arena. The company has already created a number of blockchain-based solutions, such as Blockchain Explorer and Transaction Analyzer, Smart Contract Formal Verification Framework, Tokenization Framework, Travel Rule Integration and Digital Asset Valuation Model.