• Accounting Firm of the Big Four Deloitte Forms Alliance With Ava Labs to Leverage Avalanche Blockchain

  • Deloitte, one of the Big Four accounting firms, announced a strategic partnership with Ava Labs, the team behind the blockchain network Avalanche, on Tuesday. Deloitte’s new cloud-based platform, according to the announcement, uses Avalanche to “improve the security, speed, and [the] accuracy of Federal Emergency Management Agency reimbursements.”

    Deloitte will use the Avalanche Protocol to improve its recently launched Close as You Go platform.

    All four of the Big Four accounting networks, PWC, Ernst & Young (EY), KPMG, and Deloitte, have been involved in blockchain consulting, research, and development over the last few years. Deloitte announced a strategic partnership with Ava Labs on November 16 in order to “improve state and local governments’ recovery from natural disasters and public health emergencies.” The Avalanche blockchain will be used to enhance the company’s new cloud-based solution.

    Deloitte’s newly launched Close As You Go (CAYG) platform, according to the company, is intended to help state and local governments streamline disaster reimbursement applications. These applications are sent directly to the Federal Emergency Management Agency in the United States (FEMA). The cloud-based platform of the CAYG uses Avalanche (AVAX) to provide a decentralized and transparent system that “empowers both grantmakers and funding recipients.”

    CAYG plays a “critical role” in bolstering these types of federal emergency efforts, according to Alex Haseley, principal, Deloitte & Touche LLP, and Deloitte’s government and public services crisis management portfolio leader. “When disaster strikes a community, state and local officials must respond quickly and deliberately,” Haseley said. The Deloitte executive continued:

    Our new Close As You Go platform can play an important role in preparing these leaders to aggregate and validate the documentation required to demonstrate eligibility for funding and reduce the risk of negative audit findings down the road.

    The Avalanche Protocol’s Goal Is to Create a Safe Environment for Federal Disaster Claims

    Meanwhile, the Avalanche (AVAX) ecosystem has grown at an exponential rate over the last year, with the native currency AVAX increasing by 2,522 percent year to date. According to Defillama.com metrics, Avalanche has the fifth-largest total-value locked (TVL) in decentralized finance (defi) on November 16, with $10.15 billion TVL. The Avalanche Foundation announced the launch of Blizzard, a $200 million fund dedicated to financing developers working on innovative Avalanche-based platforms, during the first week of November.

    Ava Labs president John Wu stated on Tuesday that the company is “proud to work closely with Deloitte to offer this new, secure, and beneficial technology to communities across the country.” According to the Avalanche team, the combination of CAYG and the Avalanche blockchain will create a secure environment for federal disaster claims. Deloitte also chose Avalanche because it is a “eco-friendly platform, which aligns with Deloitte’s commitment to green technology,” according to the announcement.

    What's your reaction?
    Happy0
    Lol0
    Wow0
    Wtf0
    Sad0
    Angry0
    Rip0