KPMG Participates in Trusted IoT Alliance Organization

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KPMG Participates in Trusted IoT Alliance Organization

KPMG announced that it’s joining the Trusted IoT Alliance organization, to help catalyze the expansion of a blockchain-enabled and trusted Internet of Things. The mission of the Trusted IoT Alliance organization is to develop and set the standard for an open source blockchain protocol, and to support IoT technology in major industries worldwide for Fortune 500 enterprises, blockchain developers and technology companies.

According to KPMG’s U.S. Blockchain Leader Arun Ghosh,

Our membership with the Trusted IoT organization brings together the key players in business transformation and technology to drive a secure and standardized IoT framework backed by blockchain. This will enhance the value of these emerging technologies for both KPMG and our clients, while enabling us to help improve data security among IoT devices and networks.

KPMG’s 2019 Tech Innovation Survey found that 23 percent of tech executives expect IoT processes to be one of the greatest blockchain disruptors over the next three years. However, accelerating the rate of IoT adoption overall has been challenged by limitations in device security and data assurance.

The convergence of IoT and blockchain allows us to build better transparency between contracting parties, track service completion using sensor data as well as smart contracts to automate payment processing, and provide real-time product traceability with secure data aggregation across a supply chain, in addition to several other use cases,

said Ghosh.

We’re very proud to have KPMG join the Trusted IoT Alliance organization,

said Trusted IoT Executive Director Zaki Manian.

We’re excited to collaborate with a leading firm that has a strong track record offering emerging technology solutions for their audit, tax, and advisory clients to anticipate and accelerate digital transformation efforts.

Author: Tim Cole
Image Credit: KPMG

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