- Company: PwC
- Position: Partner
- Remit/main activity: Leader Audit for Blockchain
- Place of work: Zurich
What makes my work exciting?
Blockchain technology has been more than mere hype for quite some time. It is a reality, even if its enormous disruption potential has not yet been fully realised. As an independent audit firm, PwC provides a confidence-building framework and has developed a cryptocurrency application, helping companies to deal with the challenges presented by blockchain technology and implement processes and controls for their financial and regulatory governance.
How has the industry changed? What are the challenges of the future?
As is so often the case, the greatest advantages also harbour the greatest risks. This is true for blockchain and virtual currencies. Asset custody and the fact that there is no central intermediary, for example, both pose challenges. Appropriate governance, effective controls, clear processes and strict guidelines can mitigate these risks. It is a good idea to engage a neutral third party to set up, review and certify the infrastructure used or outsourced processes.