the The Kreditanstalt für Wiederaufbau (KfW) would like to put in the future on the Blockchain technology. This your to help the Blockchain Expertise of Accenture and the Business Expertise of BearingPoint. In Burkina Faso, a six-month pilot project starts now.
Sebastian wood
19. December 2018ShareFacebookTwitterLinkedInxingemail
As the German development Bank KfW on 18. December has announced that flowed in the year 2017, approximately 9.7 billion euros in support of projects in developing and emerging countries. In the future, the Bank wants to engage sustainably in the Blockchain sector. The KfW is therefore planning a Blockchain application, which is to allow the control of public funds and transparency to the benefit of all Involved. Your Partner with Blockchain Expertise, including Accenture and BearingPoint to help.
Advisory: Accenture and BearingPoint
Accenture is a global service company, active in more than 120 countries. Among other things, Services and solutions in the areas of strategy, Consulting, Digital, technology and Operations are supported. BearingPoint is an independent Management and technology consulting, and operates in three areas: Consulting, Solutions, and Ventures. Consulting covers the classic consulting business Solutions is focused on technical solutions in the areas of Digital Transformation, while Ventures in the financing and development of Start-drives ups.
Blockchain as a Best Practice
on behalf of the German Federal Ministry for economic cooperation and development (BMZ) and begin a six-month pilot phase. The actors want to explore the Potential of technology in the Management of public finances in Burkina Faso. The KfW developed Software should all work TruBudget and approval steps in a comprehensible manner. Including the contract design and tendering-traps, among other things, the Deposit and withdrawal processes at the implementation of a project, for example, in the area of water supply.
The platform makes it all the Parties possible, all the operations and Changes in real time. Time-consuming processes for the position of a correct use of resources can thus be omitted in the future. So far, donors respond to potential risks through the setting up of parallel structures. This approach, however, increases the associated transaction costs for both sides. Prof. Dr. Joachim Nagel (photo), member of the Executive Board of the KfW banking group, is of the opinion that an independent development of a country is the more possible when investments are implemented through the budget, instead of on project budgets of donors. With TruBudget the KfW wants to create transparency to the benefit of all parties Involved, which allows donors to make a secure use of resources directly from the structures of the partner country.
The Software used was developed according to the Open-Source principle, and are thus partners free of charge. Alexander Schmid, Partner at BearingPoint, and Karsten Ebersbach, managing Director at Accenture, are of the view that the joint project with KfW is suitable as Best Practice for other African countries, and the implementation creates the much needed transparency in the administration.
