Blockchain company Bitfury Group has partnered with PricewaterhouseCoopers (PwC) to create a range of new blockchain products based on the PwC study of current demands of their clients.

PwC Russia press service has revealed they signed the contract with Bitfury Group in recent days. The goal of their partnership is to create a blockchain accelerator to ease the company’s financial burden.

Certain cases designed for developing blockchain-based apps that PwC Academy introduced within the scope of its courses and seminars are already available.

The PwC study shows that introduction of blockchain technology will entail a drastic change in modern economy and the approaches to financial transactions. Reduced system costs will include the staff and infrastructure expenses, as smart blockchain-based contracts will automate business processes.

According to Bitfury Russia CEO Dmitry Ufaev, the partnership of this level proves the technology is going to advance and mass-scale blockchain solutions are set to enter the economy and various business sectors in the coming years.

“PwC is certain that blockchain will allow creating servers for inter-corporate use (by expanding the functional of current products) as well as new business models for mass market,” said Victor Nelin, IT consulting manager at PwC Russia.

PwC published a report in August 2018, which indicates that 84% of the surveyed IT companies apply blockchain technologies in their work, 64% use blockchain networks they have developed independently, and 35% of market players are working on theoretical studies and testing of blockchain technology.

In conclusion PwC predicts that blockchain projects are going to generate around USD 3 trillion for business annually. The survey included 600 managers of IT companies from 15 countries.

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