Digital Asset in blockchain agreements with Accenture, PwC and Broadridge

The blockchain, the underlying technology behind Bitcoin, is a digital tool for recording and verifying transactions. The technology makes it easier to create cost-efficient business networks without requiring central control.

The partnerships show how the financial services industry is exploring the potential of the blockchain. In 2015, there was an explosion of interest in the Bitcoin technology as a way to solve inefficiencies in financial markets.

The blockchain is also referred to as a distributed ledger. Digital Asset Holdings, in its statement, referred to itself as a provider of distributed ledger technology.

Technology services provider Accenture will provide consulting and systems integration services - ranging from feasibility studies, business case assessments to operating model design - for clients through collaboration on blockchain-related work at global financial institutions, the statement said.

Broadridge will help identify, develop and drive adoption of business use cases of the blockchain, while PwC will help educate Digital Assets clients on its technology.

Recently, Goldman Sachs and IBM participated in Digital Assets latest funding round. Digital Assets has raised roughly USD 60 million.