Big Four accounting firm EY has introduced a new solution for the investigation of on-chain data, including Bitcoin (BTC) transactions.
The new Explorer and Visualizer solution is part of the EY Blockchain Analyzer product line. According to an announcement on September 27th, the beta version is now available for free to private users.
EY also said that the solution will soon be offered as a service on its Blockchain website.
Users can use it to make searches and use the visualization technology. Audit teams can use it to examine and track on-chain data. They can search for specific transactions, addresses and blocks. They can then analyze the collected data for legal, compliance and fraud risk management purposes.
Andrew Gordon, head of global forensics and integrity services at EY, said the Explorer and Visualizer solution will make financial reporting for block chain transactions more convenient. The solution will help highlight potential outliers and possible fraudulent activity, he added.
EY has also introduced a new procurement solution on its OpsChain platform called EY OpsChain Network Procurement. This enables companies to carry out protected and secure end-to-end procurements on the Ethereum block chain.
The solution is currently available as a free beta version and is intended to shift business processes from merchandise management systems to shared, block-chain-based Smart Contracts. In this way, volumes and global expenditures can be tracked automatically. The solution will also help buyers and sellers to establish parity and offer the same conditions and prices worldwide.