EY launches contract management solution OCM on Ethereum

According to BlockBeats, on April 18, EY, one of the Big Four accounting firms, announced the launch of EY OpsChain Contract Manager (OCM), a blockchain-based contract management solution. The solution leverages the security and accessibility of the public Ethereum blockchain to achieve data privacy, enhance contract integrity and reduce value leakage through zero-knowledge proof (ZKP) technology. It is reported that one of the main advantages of EY OCM is compatibility with existing enterprise systems through standardized APIs. EY OCM supports the execution of complex business agreements, maintains privacy, improves time efficiency, and achieves cost reduction by automatically complying with agreed terms. EY OCM can synchronize business agreement data across internal and external operations and technical isolation, and uniformly execute key business terms such as standardized pricing, quantity discounts and rebates.