deloitte ethereum vechain consensus 2019
‘Big Four’ financial service giant Deloitte revealed at Consensus 2019 that it would launch a “very large” Ethereum project before the end of the year. | Source: Silicon NYC/Art Malkov

By CCN: Consensus 2019 is in full swing; booth and aisles are bustling with people, taking over the Hilton Midtown Hotel. We sat in on sessions with Deloitte, wanting to hear why they recently moved from Ethereum to VeChain.

After the panel, we were able to sit down with Antonio Senatore, global CTO of Deloitte’s blockchain project, and discuss the firm’s involvement in blockchain development.

Deloitte Commits to Ethereum Despite VeChain Rumors

ethereum cryptocurrency
Deloitte hinted that it would launch a “very large” Ethereum project this year. | Source: Shutterstock

There were recent announcements that Deloitte was moving its clients to VeChain. As it turns out, the firm will remain committed to working with Ethereum:

“Deloitte believes strongly in multi-platform development, and 50% of our projects are built on Ethereum,” said Antonio Senatore, Global CTO for Deloitte’s Blockchain.

A member of Deloitte’s team affirmed the positive opinion of Ethereum, stating that Ethereum is a robust network that has been tested, is open source, and transparent. According to Antonio Salvatore, a multichain system is most likely to be used with interactions between platforms. In fact:

“We will launch a very large project by the end of the year on the Ethereum platform”

Multi-Blockchain Development: One Crypto Network Will Not Rule Them All

Deloitte revealed its multi-blockchain ambitions during Consensus 2019. | Source: Silicon NYC/Art Malkov

VeChain will be used for certain clients who have different needs and specific use cases. The main reasons why VeChain was chosen for those projects are the clients’ individual preferences and the costs of transactions in the Ethereum network that were at times very high – especially with the price volatility. Senatore also said that Vechain was a good choice for that specific use case, as they have a strong community and ecosystem.

It feels that this is the start of an era of multi-platform development, where blockchains are used for specific purposes rather than having a one-size-fits-all blockchain solution. And yet these blockchains will be interconnected somehow, though we are not there yet in terms of interconnectivity. Nevertheless, the growth in blockchain projects at Consensus 2019 can be observed across difference industries compared to previous years.

About the Author: Art Malkov is New York-based tech specialist and contributing writer for Silicon NYC on all things blockchain.

This article was edited by Josiah Wilmoth.

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