KPMG Partners with CoinMetrics

KPMG has partnered with a firm called coinmetrics.

The partnership will focus on Atlas and Farum from coinmetrics. It will also focus on Chain Fusion from KPMG.

The purpose of the partnership is to promote institutional adoption of crypto which means they want larger organizations to adopt crypto solutions. That’s exactly why you partner with the big 4 accounting firms. They already have the largest organizations as their clients. KPMG needs to partner with a crypto firm because they don’t have as much crypto or data knowledge as coinmetrics.

Farum is a risk management tool for monitoring potential attacks on a blockchain network. It also monitors unusual events.

Atlas is a solution for auditing transactions on popular blockchains. It can also monitor capital gains or losses for tax purposes.

Both of these solutions will partner with KPMG’s Chain Fusion solution. KPMG’s chain fusion allows companies to use crypto and track their assets and transactions. This is an advisory offering. These projects could be pretty big depending on how a company is using crypto.

This partnership comes on the heels of KPMG releasing another crypto solution.

KPMG also recently announced a patent-pending blockchain solution for climate accounting. It is called Climate Accounting Infrastructure. It is intended to help organizations more accurately measure, mitigate, report and offset greenhouse gas emissions.

To bring Climate Accounting Infrastructure capabilities to market, KPMG is working with industry groups, large technology players, and climate technology companies including Context Labs, Prescriptive Data and Allinfra. Context Labs enriches emissions data with environmental context, utilizing its Immutably™ platform to record and certify environmental, operational, and financial information as “Asset Grade” before translating this data into AlphaESG™ signals via machine-learning models. These signals are combined with additional third-party and publicly available data sources to support advanced emissions analytics and insights.

I’m not sure why they are using blockchain in that context, but it is most likely because they are going to have clients all using the same solution, and they need the data to be private which is what a blockchain could help with.