Regulators who are smart are all too aware of the skeptical, oftentimes overwhelming and growing ICO market. ICO stands for Initial Coin Offering, and fraud in this market is becoming a very common thing. It’s also starting some of the largest auditing and consulting firms from even starting to win with their own business.
But the powerhouse company PwC has now revealed they will start to accept Bitcoin as a viable Payment for their highly prized consulting services. The reason is they are continually starting to work with startups who are involved in the crypto exchanges cryptocurrency avenues as well as blockchain technologies. Blockchain is the open sourced software that processes bitcoin transactions and logs them onto public record. The powerful firm is also one of the top advisors for initial coin offerings that commonly accept Ethereum and Bitcoin for payment purposes. They are also involved in crypto exchanges and crypt funding.
The decision is a powerful statement that shows how new tech is being embraced and incorporated into business models for a full range of services. Raymund Chao who is the chairman of PwC Asia-Pacific also said that it puts Bitcoin into perspective. Bitcoin is now a well established Crypto-Currency that is starting to be accepted as payment by more traditional businesses.
ICOs have two clearly important characteristics, that put PwC’s partners’ interest in clear view: To put the cash in their hands. PwC may not be the first major company to accept Bitcoin, Overstock.com has been accepting it for years. Dish Network and Microsoft even accept Bitcoin for payments in many instances.
But they are the first company on track to raise nearly four billion dollars just this year in Bitcoin. And regardless of bad press, Bitcoins value has continually climbed. These companies are basically legitimizing the market place ad building what’s basically an exchange for ICO Tokens. And Bitcoin is continually hitting new peaks day by day.
This is truly a currency that seems to be here to stay. In the last few months the price of a Single Bitcoin has just about tripled and everyday is going up more and more. Cyptocurrency trading, exchanging and mining are soon become the most lucrative investments and industries people can get into. And they are only now starting to be regulated at some level, although it’s next to impossible to fully regulate them altogether.
Most of the true Crypto specialists and pros believe that PwC has no intention of actually accepting cryptocurrency, instead that they will make an exchange or transaction and then convert them into dollars immediately. It’s the same thing a Ferrari Dealer will do. The same pros also believe that this is the natural evolution of the process and there is no stopping the power of cryptocurrency. Even though some believe that Bitcoin and other cryptocurrencies, others believe that as long as their coders in the world, there will always be a way to decentralize currency.