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Paul Brody: EYs Blockchain Visionary and Enterprise Ethereum Alliance Chair
Since 2015, Paul Brody has guided the blockchain industry from a strategic seat at Ernst & Young to the helm of the Enterprise Ethereum Alliance (EEA). As EY’s Global Blockchain Leader, he has shaped the firm’s consulting, audit, and tax strategies around the technology, while his chairmanship of the EEA pushes open standards that bring Ethereum into mainstream enterprise workflows.
Brody’s career blends economics, technology, and consulting. A Princeton economics graduate with a certificate in African studies, he spent a decade at McKinsey & Co. in Los Angeles before moving to IBM, where he oversaw global electronics strategy and drove initiatives in mobile, IoT, and supply‑chain operations. After nearly twenty years in strategy roles, he joined EY.
At EY, Brody has overseen the creation of several public‑domain blockchain tools. The OpsChain tokenization platform and the Blockchain Analyzer analytics suite help clients manage digital assets and audit on‑chain activity. He also led the development of Nightfall, a privacy‑enabled Ethereum Layer‑2 network, and Starlight, a zero‑knowledge compiler that allows private business logic on Ethereum. In 2023 he co‑authored Ethereum for Business, a guide that translates asset management, payments, and supply‑chain use cases into tangible returns.
As chair of the EEA, Brody has steered the consortium toward interoperable solutions that dovetail with existing enterprise systems. The alliance’s focus on real‑world use cases—rather than replacing legacy infrastructure—has produced open standards that make Ethereum more accessible to large organizations.
Brody’s public commentary consistently elevates stablecoins as the near‑term “killer app” for blockchain. He cites that the Ethereum ecosystem processed $2 trillion in stablecoin payments in a single month, with more than 99 % of those transactions denominated in U.S. dollars. He likens stablecoins’ impact to that of email, arguing that emerging‑market inflation and cross‑border remittances drive the strongest demand, enabling near‑instant, low‑cost transfers between smartphone users.
When it comes to central bank digital currencies (CBDCs), Brody remains skeptical. He argues that the United States does not need a CBDC if well‑regulated, fully backed stablecoins are available, and he has noted that many central bankers cannot explain why they pursue CBDC projects beyond competitive pressure from private‑sector initiatives.
Brody has also dissected how blockchain affects different banking segments. He points out that banks whose revenue is heavily weighted on credit‑card transaction processing face the greatest risk, as stablecoin transfers can be near‑zero cost compared to typical swipe fees. In contrast, regional banks focused on corporate finance are less exposed. He sees custody banks such as BNY Mellon and JPMorgan as both threatened and presented with opportunity, given their existing custody services position them to offer tokenization solutions.
On privacy, Brody has said that the main barrier to smart‑contract adoption is the lack of built‑in privacy on public blockchains. He compares the current state to the early internet before encryption, explaining that private, permissioned blockchains have struggled because participants still cannot fully hide sensitive information from each other.
In a 2025 appearance at Money20/20, Brody suggested that banks could act as “portals” for customers navigating decentralized finance (DeFi), preserving the trust and guidance people expect from traditional financial services while enabling access to newer platforms. He has stated that his broader goal is to ensure that open, decentralized and truly public blockchains succeed rather than closed or private alternatives.
Brody’s influence stretches across EY’s blockchain initiatives, the EEA’s standard‑setting work, and the broader conversation about stablecoins, CBDCs, and privacy. His leadership has helped shape both the technical tools available to enterprises and the strategic dialogue about how blockchain can coexist with, and transform, existing financial infrastructure. The industry continues to watch how EY’s blockchain platform evolves, how the EEA advances interoperability standards, and how Brody’s advocacy for stablecoins and privacy‑enhanced solutions shapes the next wave of enterprise adoption.
Brody’s career blends economics, technology, and consulting. A Princeton economics graduate with a certificate in African studies, he spent a decade at McKinsey & Co. in Los Angeles before moving to IBM, where he oversaw global electronics strategy and drove initiatives in mobile, IoT, and supply‑chain operations. After nearly twenty years in strategy roles, he joined EY.
At EY, Brody has overseen the creation of several public‑domain blockchain tools. The OpsChain tokenization platform and the Blockchain Analyzer analytics suite help clients manage digital assets and audit on‑chain activity. He also led the development of Nightfall, a privacy‑enabled Ethereum Layer‑2 network, and Starlight, a zero‑knowledge compiler that allows private business logic on Ethereum. In 2023 he co‑authored Ethereum for Business, a guide that translates asset management, payments, and supply‑chain use cases into tangible returns.
As chair of the EEA, Brody has steered the consortium toward interoperable solutions that dovetail with existing enterprise systems. The alliance’s focus on real‑world use cases—rather than replacing legacy infrastructure—has produced open standards that make Ethereum more accessible to large organizations.
Brody’s public commentary consistently elevates stablecoins as the near‑term “killer app” for blockchain. He cites that the Ethereum ecosystem processed $2 trillion in stablecoin payments in a single month, with more than 99 % of those transactions denominated in U.S. dollars. He likens stablecoins’ impact to that of email, arguing that emerging‑market inflation and cross‑border remittances drive the strongest demand, enabling near‑instant, low‑cost transfers between smartphone users.
When it comes to central bank digital currencies (CBDCs), Brody remains skeptical. He argues that the United States does not need a CBDC if well‑regulated, fully backed stablecoins are available, and he has noted that many central bankers cannot explain why they pursue CBDC projects beyond competitive pressure from private‑sector initiatives.
Brody has also dissected how blockchain affects different banking segments. He points out that banks whose revenue is heavily weighted on credit‑card transaction processing face the greatest risk, as stablecoin transfers can be near‑zero cost compared to typical swipe fees. In contrast, regional banks focused on corporate finance are less exposed. He sees custody banks such as BNY Mellon and JPMorgan as both threatened and presented with opportunity, given their existing custody services position them to offer tokenization solutions.
On privacy, Brody has said that the main barrier to smart‑contract adoption is the lack of built‑in privacy on public blockchains. He compares the current state to the early internet before encryption, explaining that private, permissioned blockchains have struggled because participants still cannot fully hide sensitive information from each other.
In a 2025 appearance at Money20/20, Brody suggested that banks could act as “portals” for customers navigating decentralized finance (DeFi), preserving the trust and guidance people expect from traditional financial services while enabling access to newer platforms. He has stated that his broader goal is to ensure that open, decentralized and truly public blockchains succeed rather than closed or private alternatives.
Brody’s influence stretches across EY’s blockchain initiatives, the EEA’s standard‑setting work, and the broader conversation about stablecoins, CBDCs, and privacy. His leadership has helped shape both the technical tools available to enterprises and the strategic dialogue about how blockchain can coexist with, and transform, existing financial infrastructure. The industry continues to watch how EY’s blockchain platform evolves, how the EEA advances interoperability standards, and how Brody’s advocacy for stablecoins and privacy‑enhanced solutions shapes the next wave of enterprise adoption.
