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EY launches OCM, a contract management solution on Ethereum
PANews News on April 18, EY (Ernst & Young), one of the Big Four accounting firms, today announced the launch of EY OpsChain Contract Manager (OCM), a Blockchain-based contract management solution. The solution leverages the security and accessibility of public Ethereum Blockchain to enable data privacy, enhance contract integrity, and reduce value leakage through zk-SNARKs (ZKP) technology. One of the key benefits of EY OCM is compatibility with existing enterprise systems through standardized APIs. EY OCM supports the execution of complex business protocol, maintains privacy, improves time efficiency, and achieves cost reduction by automating compliance with agreed terms. Protocol to internal and external operations, EY OCM synchronizes business agreement data across internal and external operations and technology segregation, uniformly enforcing key commercial terms such as standardized pricing, quantity discounts, and rebates.