Our focus is not on building up a Blockchain ourselves, but rather on the connection points and the technologies for extracting and processing the data relevant to tax. There are already a number of tax authorities around the world that use this technology internally, and this is a development that we are closely monitoring and evaluating. In cooperation with IBM, we have already implemented successful POCs in the Financial Services area to demonstrate how smart contracts, not only give us access to the relevant data, but also enable us to process tax data and calculations automatically. Also in the area of operational transfer pricing, customs and VAT compliance, we are able to support you in defining the challenges and developing solutions using agile methods. Afterwards, we use these to validate concepts promptly and then introduce them to you.
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