EY Blockchain Analyzer features newly enhanced Explorer & Visualizer solution

EY Blockchain Analyzer features newly enhanced Explorer & Visualizer solution to investigate on-chain data

- Facilitates analysis of blockchain activities such as cryptocurrency transactions

- Designed to support management of legal, compliance and fraud risks

EY announced the availability of a new Explorer & Visualizer solution, an expansion of the EY Blockchain Analyzer product suite, beta version available free for individual use and soon to be available as-a-service on blockchain.ey.com. The Explorer & Visualizer solution integrates search functionality with visualization technology, allowing users to explore, track and analyze in-depth patterns and trends for on-chain data which could support management of legal, compliance and fraud risks.

The Explorer & Visualizer solution makes it possible for internal audit teams and forensics accountants to search for specific transactions, addresses and blocks to gather relevant information. The initial release supports Bitcoin, with subsequent releases to support Ethereum planned.

Andrew Gordon, EY Global Forensic & Integrity Services Leader, says:

"As blockchain-enabled transactions continue to gain momentum, organizations require state-of-the-art technology to deliver confidence in financial reporting, and identification of trends and anomalies in operational activity and performance. The Explorer & Visualizer solution allows management to build these capabilities by analyzing blockchain data to highlight potential outliers including fraudulent red-flag activities."

Paul Brody, EY Global Blockchain Leader, says:

"The Explorer & Visualizer solution is the second product to launch on blockchain.ey.com alongside the EY Smart Contract & Token Review service. The goal is to provide a simplified and integrated platform for enterprises to review and analyze secure, reliable business transactions on public and private blockchains. The Explorer & Visualizer solution will be integrated with upcoming releases of EY OpsChain, allowing enterprises to enter into a blockchain contract, execute transactions and track the movement of payments, capital assets and supply chain operations from a single viewpoint."

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SOURCE: EY