Leading the way in Web 3.0, Wolters Kluwer Tax & Accounting purchases virtual land

NEW YORK--(BUSINESS WIRE)--Wolters Kluwer Tax & Accounting recently staked its first claims on virtual land in the Metaverse, purchasing virtual real estate on Blockchain-based platforms Decentraland and Somnium Space.

Wolters Kluwer Tax and Accounting initially plans to utilize its new virtual land parcels in the metaverse to create new, more engaging ways for its global teams to collaborate with each other and with customers – via virtual meetings and customer events. The company also plans to conduct research and explore the development of products and services that can help its clients transform work and collaboration processes while improving productivity and efficiency.

“The metaverse will very likely reshape business models, product portfolios, and the way people collaborate,” said Karen Abramson, CEO of Wolters Kluwer Tax and Accounting. “Ultimately, our leadership in this next technology revolution will enable increased productivity and revenue opportunities for our customers.”

These virtual real estate purchases further build Wolters Kluwer’s position as the technology leader in the tax and accounting domain. Earlier this year, Wolters Kluwer released a Blockchain-based bank confirmation solution, CCH Axcess Validate, for external auditors, that uses a patented Blockchain-based algorithm to exchange requests and replies between the parties, providing a certified audit trail showing proof of all interactions and identities of the involved parties.

Wolters Kluwer joins other forward-thinking, technology-savvy companies – including, in the finance, tax and accounting realm, Accenture, JPMorgan Chase, PwC and Prager Metis, among others – that have staked their leadership claims in defining how Web 3.0 will shape their industries and serve their clients.

Decentraland and Somnium Space are decentralized, 3D virtual platforms powered by the Ethereum Blockchain, where users can create, experience, and monetize content and applications. Together with other, competitive, decentralized 3D virtual platforms, Decentraland and Somnium space are defining the next paradigm shift in the evolution of the Internet, often called “Web 3.0,” which will interconnect people, places, and things in real and digital worlds in new and transformative ways.

About Wolters Kluwer

Wolters Kluwer (WKL) is a global leader in professional information, software solutions, and services for the healthcare; tax and accounting; governance, risk and compliance; and legal and regulatory sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with advanced technology and services.

Wolters Kluwer reported 2021 annual revenues of €4.8 billion. The group serves customers in over 180 countries, maintains operations in over 40 countries, and employs approximately 19,800 people worldwide. The company is headquartered in Alphen aan den Rijn, the Netherlands.

Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt (ADR) program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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