What is blockchain?
Blockchain is a technology that allows participants of a network to reach agreement on the validity of data, without intermediaries. For the first time, participants of distributed systems do not need intermediaries to secure transfers of ownership.
Blockchain represents not only a dramatic shift in how businesses will manage transactions in the future, but also how they structure their internal operations going forward.
By design, a blockchain comes with many advantages, such as trustworthiness, immutability, transparency (of the rules) and security (of the transactions) which can benefit virtually any industry. While each industry relies on different benefits, it usually comes down to:
- Efficiency gains. Blockchain helps streamline internal and intra-companies processes; saving time, money and efforts, less reconciliation, less (manual) checks, better process integrity, etc.
- New products or services. By making the transfer of valuable assets more accessible, it allows companies to explore markets they were not present in before.
- Collaboration. Blockchain acts as a catalyst for ecosystems of companies, increasing the value of the ecosystems exponentially.
What are the benefits?
- From Proof-of-Concept to Production
The Maturity Model identifies weaknesses in your current blockchain solution allowing you to go into production with greater confidence.
- Concrete action plan
The assessment identifies risk areas and provides recommendations on how to develop your blockchain maturity.
- Unique and validated model
This assessment is unique in the market and is based upon solid research, existing IT risk standards (based on the CMMI), years of experience and has been validated with clients.This model will provide you with clear insights into your blockchain risks.
- Tax and Legal
Our specialized Tax & Legal departments can offer you guidance in the various existing regulations and warnings that may apply (e.g. GDPR), as well as accounting & tax advice (e.g. VAT qualification & income taxes) around crypto tokens.
The Blockchain Maturity Model
Implementing distributed ledger technology introduces new and specific risks that do not exist in more traditional centralized systems.Going from proof-of-concept to production can therefore be very challenging.
Our Blockchain Maturity Model helps you assess your IT readiness to implement blockchain by identifying the specific risks and opportunities before going into production.
Covered risk areas
KPMG has identified ten specific blockchain risk areas that will help provide you with an overall report containing concrete pointers on how to improve and raise your blockchain maturity level.
KPMG provides specific recommendations to improve the maturity level and help you get your blockchain Proof-of-Concept to production level from an IT governance perspective.
Internet brought the global exchange of information by democratizing the access to information. Blockchain will bring global exchange of assets by democratizing trust in transactions.
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