Consulting giant and Big Four accounting firm Deloitte announced a strategic alliance with Ava Labs to build an Avalanche blockchain-based platform for easing disaster-recovery red tape. Following the release, the Avalanche-based AVAX token rose to an all-time high exceeding US$106 by midday.
Fast facts
- The Singapore-based Avalanche Foundation operates the proof-of-stake smart contracts platform, Avalanche, that competes with Ethereum.
- Deloitte worked with first responders, public works departments, finance authorities and grant-making agencies to design the new Close As You Go (CAYG) platform to help state and local governments officials in the U.S. streamline disaster-recovery reimbursement applications to the Federal Emergency Management Agency (FEMA).
- Deloitte said that building its new platform on Avalanche provides state and local officials with a decentralized, transparent and cost-efficient system with minimized risk of fraud, waste and abuse.
- “Close As You Go features a user-friendly interface backed by the cutting edge of blockchains, helping state and local governments focus on their recovery, rather than extensive claims processes,” said John Wu, president of Ava Labs. “We’re proud to work closely with Deloitte to offer this new, secure and beneficial technology for communities across the country.”