Ernst & Young executives: cryptors should understand how to apply blockchain technology to bring solutions, not to profit

On May 31, Paul Brody, head of global innovation at blockchain at Ernst & Young (EY), said at the Financial Technology Forum hosted by the US Securities and Exchange Commission (SEC) that in order to make blockchain technology a success, global encryption disruptors should " Going back to the first principle" to understand how to apply this technology to provide solutions, not just "profit-seeking" in the digital environment. Therefore, Brody pointed out that the purpose of the capital market is to obtain funds from investors and put them into production. He hinted that the encryption space "underperformed" in this regard and claimed that most of the DApps in the Ethereum blockchain "may not be used most effectively."