PwC Auditor Trials Blockchain-Powered Platform For Employee Credentials Verification

PriceWaterhouseCoopers (PWC), a big four audit and Consultancy Company, launched a trial of its new blockchain-based platform for verifying the integrity of employee credentials after they partnered with the Institute of Chartered Accountants of Scotland according to a published press release on February 28 that we are reading more in today’s crypto news.

PwC’s believes that the blockchain’s decentralized nature will significantly lower down the exposure to fraud. The company argues that the blockchain will reduce the costs but also the risks of screening qualifications when on-boarding employees as well as easing up the process of certificate issuance for all of the institutions. It will also create a more secure alternative to paper credentials.

For all certificate issuers, the blockchain will simplify the storing of data credentials and will take away the burden from their system’s infrastructure. PwC’s Smart Credentials is an amazing blockchain solution that can provide verified and trusted identities in every field. According to the global blockchain leader at the company Steve Davies:

 “Blockchain was designed to allow participants to share data without needing intermediaries. No one party has central ownership, so individuals get more control over their personal data. […] You can also see the potential in any case where credentials are earned and continually updated – such as medical professionals, pilots or safety engineers.”

PwC will advance even further into the blockchain sector mostly investing in China-based Internet-of-Things blockchain network VeChain. Also, the company aims to expand its in-house blockchain program that will lead up to new 1,000 opened job positions at PwC.

Also, in the news previously reported, another giant Sony and the popular Japanese IT company Fujitsu will also trial blockchain in order to increase the integrity of educations course records and all of the students’ files and grade data.