Ernst & Young was founded in London and, under the abbreviation EY. It is one of the four largest auditing firms in the world in terms of revenue. The German EY Group is headquartered in Stuttgart and employed around 11,124 people in June 2019. In 2018/2019, EY ranked second among the four large German auditing and consulting firms (“Big Four”) with immensely high revenues. In the field of tax consulting, EY was the largest tax consulting firm on the market in Germany with revenues of €707 million. When it comes to blockchain, EY offers consulting services and helps those who want to implement blockchain technology immensely. We are proud to announce EY as our official sponsor and Michael Schramm as a speaker at BLOCKCHANCE Europe 2021. Michael Schramm is Head of Blockchain Competence Center for Germany, Switzerland, and Austria. Check out the encouraging answers Michael Schramm gave to our questions about EY and the Future in this short interview.
What is the vision of Ernst & Young?
At EY, our purpose is Building a better working world. The insights and quality services we provide help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all our stakeholders. In doing so, we play a critical role in building a better working world for our people, for our clients and for our communities. Enabled by data and technology, diverse EY teams in over 150 countries provide trust through assurance and help clients grow, transform and operate.
Where do you see Ernst & Young and Blockchain technology in the future?
Our blockchain solutions can help transform the business lifecycle for digital ecosystems, while promoting trust, transparency and efficiency. EY blockchain solutions support the complete business lifecycle from contracting, ordering, fulfilling, invoicing, to payments – from doing business on a blockchain to getting insight into what happened on the blockchain. EY teams also know how to manage the tax and audit requirements for blockchain-based transactions, so companies can handle the regulatory and tax complexities of an emerging ecosystem. Further we believe that the era of private blockchain comes to a close as the value of public blockchains is realized.
I recently read on your website that the insights and quality services you provide help building trust and confidence in the capital markets and economies the world over. How do your services and products make that possible?
‘Trust by Design’ will enable us to help clients become digitally confident and trusted enterprises that have the intelligence and insights to drive growth, increase business value and maintain stakeholder trust. The rapid pace of disruption brings new risks and threats for organizations. It also requires them to find a different way of managing risk, one that acknowledges the role of trust as a competitive differentiator. We help our customers in integrating trust in their strategy and their daily interactions with partners, suppliers, customers and employees.
What will the world in ten years look like?
More colorful, more reflected, more focused on values
How do you gain confidence for the future?
I am a very optimistic person by nature. I have seen so many challenges for mankind in the past, and our society reacting to it – not always logical, not always fast, not always consequent. Although our challenges and actions become more complex, more global, more impactful on a bigger amount of people, we are also facing new technologies and possibilities which are even more complex, global and impactful. The fact that us human beings appear quite slow in leveraging new technologies for real benefits gives me confidence that at the end we will use them wisely and effectively.
What motivates you to be a speaker at BLOCKCHANCE Europe 2021?
Events like Blockchance bring people together. Especially in pandemic days like now this becomes even more important. Both from a social perspective when people seek personal contact again, but also business wise, when we found out that virtual conferences do not have the same impact. Acting as speaker brings me out of my daily machinery, my comfort zone. I am facing different questions, and people challenging my standpoint much more at conference than in my daily company life, which helps me to develop further my ideas as well as my personality.
EY is not only one of the largest auditing firms, they already have taken a deep dive into the blockchain space and therefore are now contributing to a great colourful future. At our upcoming conference, Michael Schramm will represent the company as a speaker. Visit his Keynote at the BLOCKCHANCE Europe 2021 conference when he talks about his topic “Blockchain beyond the Hype – Lessons learned from real-life projects”. Get your ticket here, win an impression of some of our speakers on YouTube and join us on Telegram, Twitter or LinkedIn to stay up to date.