• Press Releases
    • Submit a press release
    • Read All
  • Contact us
Advertise
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
        • Ethereum Casinos
        • Solana Casinos
        • LiteCoin Casinos
        • DogeCoin Casinos
        • Live Crypto Casinos
        • New Casinos
        • Instant Withdrawal Casinos
        • Cash App Casinos
        • No KYC Casinos
        • VPN Casinos
        • Offshore Casinos
          • Crypto Casinos IT
          • Crypto Casinos ES
            • All Guides
          • Crypto Casinos JP
          • Crypto Casinos SG
          • Crypto Casinos MY
          • Crypto Casinos KR
          • No GAMSTOP Casinos in UK
          • No Cruks Casinos NL
      • Crypto Betting
        • No ID sportsbooks
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
        • Aviator Sites
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Bitcoinist.com
No Result
View All Result
Breaking News: BREAKING: Saylor's Strategy Misses S&P 500 Inclusion, Robinhood Takes Spotlight
Ernest & Young Solana blockchain ethereum

EY Blockchain Lead Backs Ethereum, Thinks Private Chains Don’t Stand A Chance

Dalmas Ngetich
by Dalmas Ngetich
1 year ago
·
Posted in Crypto News
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Paul Brody, a Global Blockchain Leader at EY (formerly Ernst & Young), one of the top four global auditors, thinks private blockchains don’t stand if more protocols are built on public networks, especially Ethereum. Brody tweeted his opinion on the speeches at the Real World Summit.

Brody believes that big banks building or exploring private chains like R3 Corda will soon realize their approach is “ineffective in driving adoption.” 

EY Blockchain Lead Endorses Public Networks

The Real World Asset Summit, sponsored by top crypto firms, including Coinbase—a crypto exchange—and Circle—the issuer of USDC—the second largest stablecoin after USDT–was an invite-only conference held on September 19. Brody and other attendees heard about tokenization, cryptocurrency, and credit from experts.

The event in New York invited 250 people, and there were 40 speakers, including leaders in decentralized finance (DeFi) like Robert Leshner of Compound and Jesse Pollak of Base, a layer-2 protocol for Ethereum. Given Brody’s comment, it is unclear which of the attendees the expert referred to. 

Unlike private, closed chains, public networks like Bitcoin and Ethereum are rooted in decentralization and openness. Because of the freedom presented by public chains, anyone is free to interact with the base layer, provided they have a crypto wallet and internet connection. 

Related Reading: ZCash Developer ECC Reacts To Coinbase’s Double Spend Warning

Freely accessible hot wallets, including MetaMask or Coinbase Wallet, act as interfaces for users to interact with the underlying blockchain when sending transactions, trading, minting, and much more. In other networks like Bitcoin, users can only send transactions from one area to another. 

The freedom to transact in a transparent, secure network can explain the success of some top ledgers, including Ethereum. As of September 20, Ethereum’s market capitalization was over $195 billion, and it had received support from major technology companies such as Visa and PayPal.

Ethereum price on September 20 after EY (Ernst & Young) official endorsed public blockchains: Source: ETHUSDT on Binance, TradingView
Ethereum price on September 20: Source: ETHUSDT on Binance, TradingView

Technology Firms Choose Ethereum

Visa is working on an initiative allowing users to pay for gas fees on Ethereum using their cards. This change could lead to increased adoption of Ethereum by enabling users to interact with the network without purchasing ETH for gas fees. On the other hand, PayPal, through Paxos, released its stablecoin, PYUSD, on Ethereum.

Related Reading: Sam Bankman-Fried Trial: US DOJ Has Special Request For Judge

Early this year, EY’s Blockchain Analyzer: reconciler added support for Dogecoin (DOGE), expanding the number of coins available for its customers—earlier versions supported among other blockchains, Ethereum and Bitcoin. The tool allows the auditor to reconcile client records to the public ledger.

Feature image from Canva, chart from TradingView
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Dalmas Ngetich

Dalmas Ngetich

Follow

Dalmas is an experienced journalist with over a decade in Forex, general finance, technology, and blockchain developments. He is currently a crypto reporter for Bitcoinist, where he covers DeFi, blockchain, DeFi, and latest industry news. His work and that of his partners have been featured in top news outlets, including Forbes, investing.com, CoinTelegraph, and Entrepreneur, among others. He is passionate about technology and politics and is always on the lookout for the latest trends in these fields. He also loves spending time with his family and friends, exploring nature, and traveling to new places. Connect on X: @Dalmas_Ngetich, or message him directly on Telegram here: @Dalmas_Ngetich.

Full Profile

Related Posts

Crypto

Crypto Boom Soon? Major Banks Predict At Least 2 Rate Cuts After Weak Labor Data

14 hours ago
Trump Media

Trump Media Invest $105M In CRO Following Crypto.Com Treasury Agreement

15 hours ago
MARA Bitcoin holdings near $6b Bitcoin Hyper gains

MARA’s Bitcoin Treasury Nears $6B After Mining 705 $BTC in August, Fueling Bitcoin Hyper’s $14M Presale

18 hours ago
SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

SOL Strategies to List on Nasdaq: Solana Outlook and Why You Can’t Miss $SNORT

18 hours ago
XRP

XRP In The Skies: Air China May Let Millions Pay With Crypto

20 hours ago
Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

Best Altcoins to Buy as Ethereum Outflows Signal Renewed Accumulation

19 hours ago

Premium Sponsors

Press Releases

  • miner

    XRP price battles for key support levels, with holders...

    9 hours ago
  • miner

    Global Investors Tap BAY Miner App for BTC and XRP Monthly...

    9 hours ago
  • Cloud Mining

    From Holding to Profit: How XRP Earns $27,000 Daily from...

    13 hours ago
  • minwer

    XRP Holders Can Earn $10,000 a Day Through COME...

    1 day ago
  • BTC prices hit a two-week high, and holders flocked to GMO...

    1 day ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

About Us

  • Advertise
  • Contact us
  • Editorial Policy
  • Privacy Policy
© 2025 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
    • Price
      • Bitcoin Price
      • Ethereum Price
      • Binance Coin Price
      • Litecoin Price
  • Industry
    • Industry News
    • Press Releases
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • How to do Crypto Gambling
      • Crypto Casinos
      • Crypto Betting
    • Play Crypto Games
      • Crypto Poker
      • Crypto Slots
      • Crypto Blackjack
      • Crypto Crash Gambling
      • Plinko
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Events
  • Play Games
Advertise

© 2025 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.