Audit firm PricewaterhouseCoopers (PwC), the Big Four Company and one of the largest consulting firms in the world, at a recent conference in San Francisco announced a project jointly with the credit platform Cred, which operates in the Ethereum ecosystem. Both companies will be engaged in improving the standards developed by the Universal Protocol Alliance (UPA).
Firms have come together to develop new standards for the ecosystem of digital currencies and stablecoins. In our opinion, this should lead to the emergence of more transparent stablecoins and less expensive loans provided by cryptocurrencies.
Cred co-founder Dan Shatt said that the development of the stablecoins would boost the economy by attracting large investors and ease the credit system.
If we have a transparent stablecoin pegged to the US dollar, it will be able to provide serious support in increasing confidence in the entire industry. Imagine that you can instantly get out of an asset that is rapidly losing in value into another asset that will earn you two to five percent income, added Shatt.
As part of this project, PwC will analyze the security and risks associated with the use of cryptocurrencies in lending and investment. In addition, PwC will educate investors and runners interested in the development of technology. PwC has already shown interest in the blockchain industry. So, in July, the company announced that it would conduct an external audit of the financial condition and operations of the Tezos Foundation.
And in May, PwC acquired a stake in Chinese blockchain-startup VeChain, whose market capitalization is $ 2.7 billion.