The Big Four Consulting firms in the US are set to take their rivalry contest a notch higher after EY hired Grainne McNamara who has served as a former PwC Blockchain principal. This means that EY would have the capacity to offer consultancy services to startups and establishments aiming to adopt Blockchain technology.
Blockchain technology is being adopted at an increasing pace by both startups and companies. In each case, the role of consulting services is central to correct implementation of DLT strategies and consulting firms have been able to diversify their services to incorporate Blockchain technology consultancy solutions.
McNamara’s Experience Is Relevant
Grainne McNamara has served for three years in PwC as a supervisor of consultancy services to clients who want to transform their businesses digitally with Blockchain technology.
She has also served at Morgan Stanley and Goldman Sachs as a managing director for 16 years. The two financial institutions are renown Blockchain advocates having adopted DLT in streamlining their internal administrative processes.
Grainne Will Serve At A Broader Capacity
At EY, the new role of the Grainne will transcend Blockchain technology consultancy management. This is because she will be in charge of a new product called ‘NextWave’ that is designed to help EY clients to adopt digital solutions for their businesses.
NextWave includes Crypto and Blockchain native solutions and offerings that enable clients to maximize digital capabilities and drive efficiency.
It also encompasses the development of new revenue models and mutualization of services under Blockchain solutions.
To make the product a success, Grainne has assured EY that she will focus on Blockchain as the technology is the cornerstone of this consultancy product.
Grainne Is A Leading Blockchain Advocate
During her tenure at PwC, Grainne represented the company in Blockchain forums that have impacted the whole industry at the policy-making level. For instance, she was the PwC representative at a past panel on Blockchain that was convened by the Securities and Exchange Commission in 2016. In the forum, she was categorical in advising the Commission on the opportunities of Blockchain technology in revolutionizing the SEC’s auditing practices as well as monitoring of transactions on private platforms in real time.
In 2017 at a Banking Conference, she called for more corporate consultancy solutions to help institutions that launch Cryptocurrencies. She further stated that Cryptos hold the key to greater financial inclusivity especially for people in the informal economy. In the same year, PwC sponsored a Blockchain event at the United Nations dubbed as ID2020 to highlight the importance of digital identity.
Due To Her Efforts, PwC Is A Leading Blockchain Consultancy Firm
PwC has been able to transform itself and is now a major company advocating for Blockchain technology and Cryptocurrencies adoption. For instance, the company is advising on a Loopring Foundation Stablecoin proposal as well as auditing the Tezos Foundation.
Further, PwC has a two-year digital skills training program where its staff is required to study emerging technologies including Blockchain.
On the other hand, EY has not been vocal in advocating for Blockchain or Digital Tokens. However, this might be about to change.