Applications and Use Cases

Armanino Launches Blockchain Practice to Ensure Project Success


February 21, 2019

While the hype around cryptocurrency has subsided to some degree since Bitcoin plummeted from its $20,000 high in December 2017, blockchain technology is still a hot topic among the media, business leaders, developers, and investors.  The fact is, blockchain has business implications far beyond Bitcoin and may live projects – and even more in development – are building new levels of trust, security, and transparency into transactions and processes thanks to its immutable nature.

Technology leaders, like IBM and Oracle, are entrenched in the blockchain space and helping forward-thinking, innovative businesses drive new value in their processes and relationships.  In fact, IBM’s Chief Innovation Officer Ben Amaba commented at the recently concluded ITEXPO, “Future-ready companies – those that are leveraging AI, blockchain, IoT, data analytics and monetization – these are the businesses you really want to be.”

It’s not surprising, then, that blockchain is also being recognized as a growth opportunity among other branches within the technology ecosystem.  California-based business consulting firm Armanino, for instance, has just launched its blockchain practice.  The company seeks to help businesses understand how they can leverage blockchain to create better models, much the way MasterCard is looking to do by exploring putting credit cards on blockchain, and  Wal-Mart is already doing with IBM’s Food Trust.

“Blockchain technology and crypto assets have the potential to become a high impact innovation that brings value and security to businesses,” said Andries Verschelden, partner at Armanino and Blockchain practice leader.  “This firm is dedicated to being forward-facing... and that includes offering a robust blockchain service solution.”

Armanino’s blockchain practice includes a variety of strategy, assurance and systems implementation solutions for businesses, including:

  • Proof of concept – Assessments for blockchain, including distributed ledgers, permissioned blockchains, hybrid solutions and permissionless blockchains;
    Design and implementation – Vendor selection, functional and technical design, configuration, testing, user training, system integration and support; 
  • Assurance/security review and monitoring – Assurance on digital assets on the balance sheet, high-volume digital currency transactions, custodial holdings, smart contract and enterprise blockchain environments.
  • Cryptocurrency on-ramp – Crypto readiness systems review, crypto-specific accounting solution selection and implementation, technical accounting guidance, custody solutions, cold storage controls environment consulting, and digital asset tax strategy and process design.

One of the challenges for many companies is understanding exactly how blockchain can be applied to their businesses.  While companies like IBM, Oracle and others are delivering the technology that enables businesses to undertake blockchain projects, consultancies like Armanino can provide the expertise to determine the right strategies and ensure successful execution.

If you've got expertise in blockchain and are interested in sharing your experiences during three days of detailed education, discussion, and debate, The Blockchain Event would like to hear from you.  The 2020 edition of The Blockchain Event, taking place in Ft. Lauderdale, Florida (February 12-14, 2020) is currently accepting submissions at its Call for Speakers page.




Edited by Erik Linask

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