<p>“Big Four” professional services firm EY has launched a new blockchain solution for governments around the world to help them improve their financial management of public funds.</p> <p>The solution, dubbed “EY OpsChain Public Finance Manager,” helps governments to track funds in “real-time,” according to an <a href="https://www.prnewswire.com/news-releases/ey-launches-public-finance-management-blockchain-solution-to-improve-efficiency-and-transparency-in-governments-300938813.html">announcement</a> Tuesday. It creates a single dashboard of financial information and helps governments track budgets and expenditures for better financial management.</p> <p>Built on EY’s native blockchain application, <a href="https://www.ey.com/en_gl/news/2019/04/ey-ops-chain-industrializes-the-blockchain-at-scale-for-enterprises">OpsChain</a>, the Public Finance Manager solution has been piloted worldwide, said the firm, including for the city of Toronto. The city tested how reconciliations and inter-divisional fund transfers are managed, as part of its ongoing financial management transformation efforts, per the announcement.</p> <p>“As governments around the world are modernizing their cities and digitally transforming their processes, blockchain technology can positively impact processes from tax collection to open data to public spending,” said EY.</p>