Accounting and consultancy firm Ernst & Young (EY) has developed a public blockchain network for private business transactions and plans to launch it next year.

Enterprise blockchains typically run on private or permissioned blockchains, which are centrally administered but invitation-only affairs for those using the peer-to-peer, decentralized transactional network.

EY's Ops Chain Public Edition (PE) purports to allow companies to securely transact on a public network based on the Ethereum, open-source blockchain platform. Currently, the public blockchain is only a prototype, EY said.

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