Ernst and Young’s, Principal and Global Innovation Leader, Blockchain Technology, Paul Brody Stated that on the Ethereum network,83% Dapps (decentralized applications) are not being utilized productively. During a meeting at Fintech Forum facilitated by the United States SEC (Securities and Exchange Commission’s) at Big Four review firm EY, Brody talked about the advances in the blockchain and the issues blockchain technology faces today, and the digital asset sectors as well.
Besides, he expressed that individuals should see how blockchain technology should be accustomed to bring out results. Moreover, he said that, even though capital market’s motivation is to utilize investors finance for productive use, however, the crypto industry is deficient in this issue and further stated that on the Ethereum blockchain, a tremendous level of DApps is not used beneficially.
As per the information was given by Brody, just fourteen percent of Ethereum based DApps are utilized at crypto trades; forty-four percent is used for gambling and thirteen percent for gaming. Finally, Brody stressed on effective utilization of the blockchain technology that will add a heritage that is final and beneficial.
Brody remarked that the technology executions should concentrate on increasingly successful applications such as distributed computing, new business models, fractional real estates, and partial framework. As far as Cryptocurrency, EY executives have a positive frame of mind toward the advancements of digital currency and blockchain. In contrast to the three organizations in the Big Four, EY supports the Bitcoin group unconventionally.