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Deloitte to Deploy Blockchain Technology

Deloitte, the multinational professional service network is planning to deployment of blockchain technology for its global clients.

Deloitte is the largest professional service network in the world by revenue and number of professionals. Deloitte is also one of the Big four accounting organisations in the world. Two years back, the company has opened its first blockchain lab in Ireland to provide the blockchain services to its extensive client base. With its teams of blockchain developers now Deloitte will be able to bring the blockchain into the real world at a faster pace. Other than EMEA Blockchain Lab in Ireland, Deloitte currently has two more labs, one in New York, and one in Hong Kong. Irish lab includes technologies which are focused on design and development and strategies which work with clients on blockchain implementation and adoption. The lab work right from the idea stage through testing and creating technical architecture, design, development, and deployment of the blockchain technology.

According to Chief Technology Officer of Deloitte, Antonio Senatore, organisations around the world are looking to use blockchain technology to add an extra layer of transactional infrastructures to provide trust. He said that

“You can see blockchain almost as an indexing layer, a trust layer on top of a data exchange facility, and that’s what we have seen so far.”

Blockchain has been successfully used in payment and remittances and supply chain. Blockchain is widely tested for adding a secure way to confirm and share information related to trades and transactions.

The challenge which Deloitte faced with blockchain technology is getting industry stakeholders to work together to decide the governance and to turn ideas into reality. According to the Chief Executive Officer (CEO) of Deloitte, Anthony Day

“The technology is only 20 per cent of the problem; the other 80 per cent is getting a multidisciplinary group together.”

Anthony believes that blockchain is more than a technology. With the help of blockchain technology, you can create real transformation and new ecosystem or processes which did not exist before. In the near future blockchain will become a truly foundational technology for all industries.