A new tool from EY's "Blockchain Analyzer" product. This is the "Explorer and Visualizer" solution.
This new tool will allow investigating data on chain, such as the case of bitcoin transactions, he said. EY. In that sense, it will make it possible for audit teams to explore and track on-chain data in search of specific transactions, addresses and blocks. With the information they collect in these searches, they will be able to perform legal, compliance and fraud risk analyzes.
According to EY Director of Global Forensic and Integrity Services Andrew Gordon, the Explorer and Visualizer solution will enable “highlight potential outliers, including red flag fraudulent activities".
On the other hand, according to Paul Brody, EY's global blockchain leader, “the goal is to provide a simplified and integrated platform for companies to review and analyze secure and reliable business transactions on public and private blockchains".
This tool will allow the business process to go from the traditional scenario to the use of smart contracts that can be shared based on blockchain. In this way, it will allow automatic monitoring of volumes and global expenses.