EP 23 - Paul Brody of EY - This ain't your daddy's "Ernst & Young" - How EY is building a crypto practice that helps all of DeFi

<h2>Guest Info</h2> <p>Name of Guest: Paul Brody<br> Name of Project: EY<br> Twitter URL of Guest: <a href="https://twitter.com/pbrody" rel="noopener" target="_blank">https://twitter.com/pbrody</a><br> Project Twitter URL: <a href="https://twitter.com/EY_US" rel="noopener" target="_blank">https://twitter.com/EY_US</a><br> Project URL: <a href="https://blockchain.ey.com/" rel="noopener" target="_blank">https://blockchain.ey.com/</a></p> <h2>Show Notes</h2> <p>How he got started and became the Global Blockchain Leader at EY&nbsp;</p> <h3>How he got into blockchain and EY</h3> <p>While at IBM:<br> Talked about connected devices like light bulbs and how their clients were selling them and they were losing money from cloud services.<br> So they decided on blockchain and spoke to Vitalik Buterin about it.<br> That project convinced him that blockchain was all he wanted to work on. IBM wasn't interested, but EY was.</p> <p>He laid the groundwork for EY, that it was going to go up and down and needed them to stay with it whenever it goes down or up.</p> <p>He got a 5-10 year commitment from them 5 years ago.</p> <p>Polygon partnership is a direct outcome from that investment over the ups and downs.</p> <p>How large companies get excited about things and expect big revenue and then realize they have to wait or call it a failure.</p> <p>How he really set expectations.</p> <h3>How they decided what EY would be doing in blockchain</h3> <p>Went through a large number of options.<br> Had a blank sheet<br> Were going to focus on external, not internal.</p> <p>Most difficult decision was private or public blockchains and decided that public was only way, but that privacy of what they do is critical. They need privacy in their competition. Cannot be open on chain.</p> <p>Didn't think that private would ever work so they adopted Public - but.</p> <p>They decided on Ethereum and to be the best at Ethereum.</p> <p>They decided to invest heavily in privacy. Hired researchers and cryptographers.</p> <p>Could only choose 1 platform. De