Blockchain technology continues to pique the interest of companies and enterprises all over the world. PwC has announced they will support Qtum’s effect to bring blockchain technology to global business sectors. This is a significant vote of confidence by PwC in favor of Qtum, as the project aims to combine the best of both bitcoin and Ethereum.
PwC Sees Merit In Qtum
The concept of Qtum is quite innovative, as it executes smart contracts with a proof-of-stake consensus mechanism. This technology has caught the attention of PricewaterhouseCoopers, as the professional service provider will fully support Qtum’s efforts. Fueling blockchain adoption in business sectors all over the world will be challenging. However, quite a few enterprises have taken note of distributed ledgers already.
PwC China Fintech and Cybersecurity Partner CY Cheung explained it as follows:
“PwC sees enormous potential for blockchain to revolutionize business practices as we know them, and the firm has made great efforts in developing strategic and technical capabilities to adapt existing products and services for the new technology. We are excited to get involved in the era of innovation and help companies capture the opportunities and benefits brought by the new technology. Working with the Qtum Foundation aligns with our goal.”
The upside of Qtum’s management structure is how it allows the project to take hold as an open-source blockchain platform. To be more precise, the Qtum team feels that, with the support of PwC, their structure will meet the needs of financial services, IoT enterprises, supply chain management, gaming, and various other industries. Distributed ledgers can affect and transform any existing business model in virtually every sector or industry that comes to mind.
It is evident Qtum will become a smart contracts platform for businesses all over the world. To achieve that goal, the barriers to entry for creating practical applications on top of blockchain technology need to be lowered. Qtum aims to achieve that by providing a feasible approach to creating practical apps. Additionally, the project team wants to automate business practices and introduce seamless machine-to-machine communication standards.
Having the support of PwC will be invaluable in this regard. Their broad expertise across industries and their global network will introduce Qtum technology the enterprises all over the world. It is good to see this open source value transfer protocol get some more attention. After all, open standards will drive blockchain adoption in virtually every industry moving forward. By the look of things, the Qtum project is on the right track to make a big impact over the coming years.
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