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EY honored with top recognition for CRM and work in blockchain

EY announces that it has been selected as a member of the prestigious 2018-2019 Inner Circle for Microsoft Dynamics and has also been awarded the Microsoft 2018 Consulting & SI Drive Partners Award for work in blockchain.

Membership in the Inner Circle is based on sales achievements, with EY ranked as one of the leading Microsoft alliances. Inner Circle members have performed to a high standard of excellence by offering valuable services that help organisations achieve increased success.

The 2018 Consulting & SI Drive Award recognises the work EY is doing to transform the marine insurance industry with the world’s first blockchain platform for marine insurance now in commercial use.

EY, Guardtime, A.P. Møller-Maersk, Microsoft and insurance industry leaders Willis Towers Watson, XL Catlin, MS Amlin and ACORD announced that members of the marine industry are using Insurwave, a blockchain platform to support marine hull insurance. Insurwave, built by a joint venture between EY and Guardtime, will support more than half a million automated ledger transactions and help manage risk for more than 1,000 commercial vessels in the first year.

EY was also honoured for the Citizen Intelligence Solution and the application to child welfare from more than 2,600 entrants across 115 countries worldwide. The solution was built on the back of the work EY is delivering in Australia, New Zealand and UKI. Supported by Microsoft technologies, the solution is currently helping governments around the world in the area of child welfare, but other potential use cases include drug abuse and opioid addiction, homelessness and domestic violence. The platform gathers information from multiple critical data sources – justice, welfare, police, social services, health care – to provide rapid insights into individual cases. With a detailed view of each vulnerable child, decision making is timely, responsive and focused on real, long-term results.

Jim Little, EY Global Leader of the EY and Microsoft strategic alliance, says:

“The EY and Microsoft alliance jointly develops innovative digital solutions that drive long-lasting client value. These distinguished awards recognise the value, focus on innovation and exceptional use of Microsoft’s digital technologies that EY brings to help EY clients reap the benefits of digital transformation. We will continue to bring exciting new solutions to market that leverage the combined strengths of our organisations.”

Victor Morales, Vice President, Systems Integrators at Microsoft Corp., says:

“We are delighted to welcome EY into the elite 2018/2019 Inner Circle in recognition of their deep commitment to our customers and dedication to business excellence. The 2018 Consulting and Systems Integration Partner of the Year award recognises how our jointly-developed innovative blockchain-based solution helps to improve client satisfaction and enhances compliance. We’re thrilled to work with EY in a trusted alliance that leverages EY technology and finance knowledge with the technology leadership of Microsoft.”

The EY and Microsoft alliance combines deep EY insights and experience in disruptive industry trends, new business models and evolving processes with Microsoft’s scalable, enterprise cloud platform and digital technologies. Together, EY and Microsoft are collaborating to help accelerate digital strategy and make it a reality for enterprises to thrive in a digital world.

Recently, EY announced blockchain initiatives with Microsoft including a blockchain solution for content rights and royalties management; the world’s first marine insurance blockchain platform; blockchain for automotive services and a suite of blockchain audit technologies that enhances the ability to perform an in-depth review of cryptocurrency business transactions.

About EY

EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.

EY refers to the global organisation, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organisation, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organisation that also does not provide any services to clients.

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Australian Law Awards winner spills on success

It’s been a huge 12 months for Paul Catchlove, a former chief operations officer of the Go Australia Group who was balancing his work with full-time study at the Queensland University of Technology up until December 2017, when he graduated with a Bachelor of Laws (Honours/First Class).

The winner of the Rising Star of the Year award and the Lawyers Weekly Excellence Award at the recent Australian Law Awards, Mr Catchlove only graduated from the College of Law in April of this year but his early career success is a testament to his hard work and dedication to the legal profession.

The Rising Star of the Year Award recognises outstanding performance by an individual who has recently commenced their legal career, while the Lawyers Weekly Excellence Award does not accept nominations, instead being awarded to the highest-scoring lawyer across the individual categories of the Australian Law Awards.

Previous Australian Law Awards:

Talking to Lawyers Weekly, Mr Catchlove said he is overwhelmed by his success across both award categories, noting “no one ever wins an award like this on their own.”

Reflecting on the last year, the 2018 Rising Star said it is “encouraging of the work that I have done to date, but even more so of the amazing people I have around me who have enabled me to do what I do.”

Acknowledging the high calibre of nominees on the night, Mr Catchlove said “to have been part of a group of such talented finalists (who are representative of an exceptionally talented profession) and have been chosen from among them is exceptionally humbling.”

Since commencing in Gadens’ corporate advisory group, Mr Catchlove has worked on a number of complex corporate transactions, including the restructure of a multimillion-dollar charitable foundation. He also works agreements between government and infrastructure providers, provides client advice on IPOs and capital raisings, and makes appearances in the Federal Court and Queensland’s Supreme Court.

Understating his talents, the lawyer says he has been “fortunate to receive such positive feedback from the clients for whom I have worked”.

“Ultimately the practice of the law is a business and so performing well for your clients is incredibly important,” he said.

As well as his corporate knack, Mr Catchlove uses his legal skills for Gadens’ pro bono work and in his position as a sessional academic at the Queensland University of Technology, where he is a tutor across corporate law and ethics.

He also founded the first Australian chapter of Legal Hackers, a global movement for lawyers and policymakers to combine with technologists, designers and academics to explore and develop creative solutions to issues at the intersection of law and technology.

Mr Catchlove sees the onset of technology in the legal industry as “much needed” for the improvement of efficiency and productivity and a continuing trend for the next twelve months. He also considers growth “in the application of legal design principles and legal project management” as a way to add significant value for clients.

Confessing to being “a little nerdy”, Mr Catchlove sees law “as a vocation, a calling.” He offers up that he tries to learn as much as he can about as many things as he can, and is “always reading or attending seminars to grow and develop.”

“I want to add value for the firm that I work for and the clients for whom I serve. As much as I can, I want my clients to see me as their trusted advisor,” he continued.

This development also comes in the form of mentoring, with Mr Catchlove telling Lawyers Weekly he has “three key mentors.”

“Two of which are law firm partners and one is a leader in business.”

Mr Catchlove explained that these mentors are people who each provide him with “invaluable”, “honest” and “much needed feedback and advice.”

With their guidance, and a continued yearning to learn, Mr Catchlove hopes to “continue down the same path” he is now on. He hopes to be able to provide “the highest levels of legal advice, advocacy and assistance” to his clients.

To other young lawyers, he has the following advice: “Work hard and apply yourself to your craft, develop your soft skills, grow your networks and find yourself a good mentor or even a few.”

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TSF Consultants win coveted title at AI Global Excellence Awards

TSF Consultants are delighted to announce that they have achieved the AI Global Excellence Award for Best Mental Capacity Assessment Services Provider 2018 for England.

The second Award the firm have achieved in this year alone, TSF’s achievement demonstrates not only their unyielding commitment to providing a high standard of service, but also the continual dedication to every single one of their clients.

TSF’s reputation as leading providers of mental capacity assessment is only reflected by their achievement; to secure an Award at the AI Global Excellence Awards is an impressive accolade, given the scale and comprehensive analysis which firms are subject to during the judging process.

As well as their success, TSF’s accomplishment further illustrates their firmly established position in the marketplace, having grown to become one of the most trusted providers in the sector they serve.

Proud to be across the whole of the UK, TSF’s network of experts has similarly seen substantial growth during the past seven years, with the progress driven by founder Tim Farmer.

Expressing TSF’s delight at the achievement, Tim said: “We are very proud to be named as best mental capacity assessment services – England. We are thrilled to be recognised for our commitment to uphold individuals rights, ensuring their needs are at the centre of all we do. It reinforces our position as leaders in the field of mental capacity assessments and our continual drive to ensure quality and innovation at every stage”.

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Blockchain technology will revolutionise these 5 industries

You’ve probably heard about blockchain technology through cryptocurrency, but did you know that blockchain technology is expected to revolutionise industries like real estate, transportation and even social justice?

Blockchain technology may have been made for bitcoin, but its potential to make transactions more secure is one of the most exciting possibilities for using this powerful technology. Innovation is most commonly known as the underlying algorithm of cryptocurrency. One day, businesses in every industry may use blockchain to record and verify every transaction. The decentralised characteristic of the utility makes it an appealing business resource, and enterprises covet the transparency and finality the digital recordkeeping application.

Blockchain Can Increase Trust & Accountability

Privacy issues are a concern for every American. With most businesses in the United States keeping their records and transactions mostly online, Americans have begun to become jaded as data breaches hit the news. While blockchain technology can’t prevent all data theft and cybercrime, it could help make transactions more secure, improving trust in businesses’ ability to protect consumer data. With cybercrime on the rise, the technology has arrived just in time. The first applications that will give way to blockchain are the most insecure transaction methods. From all of the disruption I’ve seen already in various industries, I believe that blockchain technology is a viable resource for any industry or field that conducts transactions.

Here are the five industries, institutions and fields that will experience the most exciting disruption due to blockchain technology in the near future.

The Finance Industry

Governments and large corporations are researching blockchain technology closely to unearth ways to utilise the resource. The finance industry is investigating blockchain intensely since fraud is a huge problem for banks and other financial organisations. Finance executives believe that the technology is a potentially ideal solution for security when transferring money from one account to another—always the most vulnerable point in any transaction. Blockchain may disrupt not only the field of digital security but also that of logistics and other fields across many industries. Cryptocurrency has also made its way into the crowdfunding and investment markets and led to the birth of crypto exchanges such as Okcoin, Poloniex and ShapeShift. This shift has not only opened up a number of new opportunities for individuals to invest, but also has created new job opportunities such as a crypto-investment banker. Although new, projections say that this position can expect to make as much as traditional investment bankers who have a median salary of approximately $81,339.

Another new feature brought on by blockchain tech is that investors can now buy into initial coin offerings (ICOs) in the same way that they buy into initial public offerings (IPOs). This is reshaping the investment world by eliminating geographical boundaries and speeding up the investment transaction process.

Social Justice

Enterprises and agencies could potentially use blockchain technology to securely record and verify inventories, monitor resources and redistribute assets. Via these means, the technology can pave the way toward a sharing economy. Inequality, income disparities and consistent income are serious problems in modern capitalist societies around the globe, and new technologies threaten to enhance these problems. Blockchain is a resource that can empower a sharing economy, and it can potentially accelerate the process of ensuring full inclusion in economic prosperity, rather than contribute to conditions that promote inequality and conflicts.

American Energy Grids

Energy grids in the United States are deteriorating and outdated. Today’s energy networks are vulnerable to elements such as natural disasters and climate changes. Many researchers are working on solutions to replace the outmoded system, and some believe that blockchain will provide the answer.

In Brooklyn, New York and other municipalities, participants in an energy experiment collect power using solar panels and exchange it using computerised “smart contracts.” The participants also install smart power meters as a part of the project. They use blockchain to secure and verify all transactions sans utility companies or any other third-party, saving on costs and increasing efficiency.

Blockchain technology could also help to fend off attacks from more than just Mother Nature. In 2018, information came to light that Russian hackers were able to gain access to United States electric grids, giving them the ability to cut off and control power. With our massive dependency on electricity, potential attacks could cause mayhem and economic damage. More secure networks, like those offered by the blockchain, could reduce the likelihood that hackers would be able to gain access to American energy grids.

The Real Estate Field

The real estate industry exemplifies the disruptive potential of blockchain technology. The transfer of real property is a complicated and extensive process, but blockchain technology can potentially allow property buyers and sellers to transfer property rights instantaneously. Sellers could use the technology to securely transfer titles and deeds to new owners, and buyers could pay for the transactions via cryptocurrency. Stakeholders could also use blockchain to send property information to the appropriate government agencies.

Closing costs are a big expense for homeowners and buyers alike. While blockchain technology won’t cut out commissions and related expenses, a simpler buying process could potentially reduce the cost and hassle of buying a home, making it more realistic for young people to get into the real estate market.

The Transportation Industry

Researchers imagine a future where blockchain and the Internet of Things (IoT) combine to make smart cities a reality. Municipalities could connect sensors for street signs, traffic lights, vehicles and other items to the IoT, enabling the rerouting of traffic for maximum efficiency. Scientists hope that by using blockchain in this manner they can reduce commute times, traffic congestion and vehicle emissions. The blockchain technology can also provide potential conveniences such as vehicle parking and be charging location and payment; traffic ticket payment; and accident and maintenance monitoring services.

Final Thoughts

Analysts forecast that bitcoin will achieve a total value of $1.2 trillion towards the end of 2018. However, forward-thinking individuals see the value of blockchain beyond its original application for digital currency transactions. Bitcoin took off rapidly as more people brought into the idea of a currency that’s free of government or institutional regulation and valued based on quantifiable, although highly complex, supply and demand. While the excitement about bitcoin is tempering, there’s great interest in its underlying blockchain technology. It’s hard to not see the value in cutting out middlemen, increasing security and saving precious time and expenses.