PwC Collaborates With Bitfury To Create Blockchain Accelerator

PricewaterhouseCoopers (PWC) is a multinational professional services network headquartered in London, United Kingdom. PwC with a revenue totalling over $41 billion for the 2018 fiscal year, is ranked as the second largest professional services firm, behind just Deloitte. They have recently announced a partnership with Bitfury Group. Bitfury, founded in 2011, is now of of the leading providers of security and infrastructure for Bitcoin blockchain, their sole aim being to produce more and more innovative hardware in order to ensure security for cryptocurrencies and blockchains.

According to today’s press releases Dec. 13 this partnership has been concluded to facilitate the creation of a blockchain accelerator for business in Russia. The report also says that PwC has already used Exonum — an open source framework by Bitfury, for building blockchain applications — for educational courses and seminars. The press report also mentions that the main aim of the new accelerator will be to meet the “current needs” of the consulting giant’s enterprise clients in Russia. An IT consulting manager at PwC’s Russian branch, Victor Nelin, claimed that BitFury and PwC will eventually provide “fundamentally new” products to companies in different sectors and industries within the next few years. He said,

“Definitely, PwC, as one of the leading consulting services companies in the Russian Federation, is confident that the blockchain technology will allow creating both services for internal corporate use, by expanding the functionality of current products, and fundamentally new business models for mass segment.”

The release also takes into account a recent PwC study on blockchain implementation in the energy sector, which has led them to believe that is technology can completely revolutionize change the modern economy and cut personnel and infrastructure costs with the automation of business processes.

It was just in November that Bitfury’s Russian branch had launched another blockchain accelerator with Plekhanov Russian University of Economics, based in Moscow. The University is also supposed bro offer blockchain related courses and educational programs.

PwC on the other hand is also slated to launch its own accelerator to bolster its employees’ knowledge of blockchain via a two-year program starting January 2019. They are currently expecting to train as many as 1000 employees.