Deloitte’s Canteen to Accept Bitcoin Purchases as the Big Four Prepares for Blockchain Operations

Deloitte LLC, one of the Big four accounting firms in the world recently joined the Blockchain and Cryptocurrency wave. The firm gave hints of its intention to accommodate blockchain in operations after it allowed employees to purchase lunch via Bitcoin.

One of the firm’s partners told the Luxembourg Times in an interview that Deloitte would allow Bitcoin lunch purchases in its canteen.

Deloitte’s Future Plans in Blockchain and Bitcoin

The Big four accounting giant was keen to note through one of the partners, Laurent Collet, that it had no intentions of accepting crypto payments in the near future.

However, Deloitte’s interest in leveraging blockchain technology for operations ranging from audit functions to fund management remains a keen topic for the firm. Bitcoin has had its fair share of challenges and criticisms over the past decade, most notably the speed of transactions.

The Satoshi coin takes an average of 8.2 minutes to confirm a transaction, this is much longer than one would expect from digital currencies. Deloitte’s staff might have to wait longer than usual if they opt to pay using BTC form their mobile wallets.

However, a number of developers in the crypto space have dedicated their efforts to solve this challenge; the Lightning network is a good example that solves the inefficiency of using BTC for micropayments.

This ecosystem is a “two layer” designed to integrate central channels that enhance the speed of BTC transactions. As a result, big players like Deloitte have given blockchain and crypto technology a chance to prove its fundamental value in today’s financial services sector.

Why Blockchain But First Bitcoin?

Deloitte has emphasized that its long term goal to have a piece of the pie in Blockchain technology and not digital assets led by BTC.

The firm’s partner, Laurent Collet, said that Deloitte would study blockchain through its resources and see where the tech fits as a solution in the Luxembourg industry. In addition, the uses of blockchain are evident in Deloitte’s functions and would speed up its processes besides removing middlemen.

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