By CCN: Piles of student debt, an underperforming job market, and a rising cost of living are pushing millennials’ average net worth down, and down fast. According to an eye-opening Deloitte study on consumer behavior: “Millennials are dramatically financially worse off than previous cohorts with a 34 percent decrease in their net worth since 1996.” Because of this lower...
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...
By CCN.com: VeChain, which uses Proof of Authority rather than Proof-of-Work, clocked in more transactions than Bitcoin on Saturday. A Reddit user noticed and raised the celebratory alarm; Deloitte executive Cillian Leonowicz then claimed the activity via LinkedIn, writing: We wrote more transactions than Bitcoin over the weekend by migrating our client work from Ethereum to VeChain – we...
CCN spoke to Deloitte tax partner Jim Calvin about the problems and strategies associated with cryptocurrency for his clients, particularly when it comes time for them to submit their annual tax returns. Deloitte Tax Partner Spends More Than Half His Time Working on Crypto Calvin got into cryptocurrency in 2014, when he was based in Asia. He says he began to get questions about Bitcoin from...
According to the Deloitte 2018 global blockchain survey, almost 39% of the respondents were of the view that blockchain technology was ‘overhyped’. In the study in which over 1,000 blockchain-savvy executives at firms boasting annual revenues of $0.5 billion or more in the United States, the United Kingdom, Canada, Mexico, Germany, France and China were polled, this perception was stronger in the...
PwC, a Big Four auditor alongside KPMG, Deloitte, and EY, reported that 537 initial coin offerings (ICOs) conducted in the first five months of 2018 generated $13.7 billion. Where Did $13.7 Billion Come From and Where Did it Go? The report cited Daniel Diemers, the head of Blockchain EMEA at PwC Strategy, who in cooperation with Crypto Valley and four researchers based in New York, Hong Kong, and...
This is a sponsored story. CCN urges readers to conduct their own research with due diligence into the company, product or service mentioned in the content below. PetroDollars marks the first regulated currency supported by oil and gas reserves. As digital assets linked to existing, verified real world assets, PetroDollars will enable owners to acquire, hold and transfer intrinsic value in a...
Code repository GitHub saw over 26,000 blockchain-related projects created on its platform last year; yet only a small percentage remain active. According to data collected by Deloitte, it detailed in its new report ‘Evolution of Blockchain Technology: Insights from the GitHub Platform,’ that there were 26,885 blockchain-related projects in 2016 developed on GitHub. Surprisingly...
On July 4, multi-billion dollar professional services firm Deloitte entered into a strategic partnership with blockchain infrastructure provider Waves Platform. The signed memorandum between Deloitte and Waves Platform marked the first entrance of a multi-billion dollar conglomerate into the rapidly growing ICO market, which has started to attract both high profile and casual traders globally...
Deloitte's employee-only restaurant in its Toronto offices will now begin accepting bitcoin for lunch.
Ireland and Germany are set to compete with each other as they both attempt to take the top spot as Europe’s FinTech hub once the U.K. breaks away from the European Union, according to a co-founder and partner at B Capital Group. In a report from CNBC, Raj Ganguly said that there is going to be an impact on the U.K. once it leaves the EU as a result of Brexit and that it looks as though London is...
Multinational services firm and one of the so-called “Big Four” accounting firms Deloitte has announced the completion of its latest blockchain endeavor. The firm scrutinized permissioned blockchain protocols and applications with professional auditing standards. The aim of the project, Deloitte said, was to “enhance the utility and trust of a permissioned blockchain system” by putting it through...
A new report from Deloitte has been dismissed by the Hong Kong government after it ranked the city fifth for FinTech and three spots behind Singapore. In a report from the South China Morning Post, it’s claimed that the study didn’t compare financial technology development, but financial and business environments together. According to Chan Ka-Keung, Secretary for Financial Services and the...
A new survey by Deloitte has found that blockchain technology is becoming an emerging key business focus for U.S. companies in many industries with several sectors focusing on big investments in 2017. According to the survey, while it found that two in five (39 percent) of surveyed senior executives still have little or no knowledge regarding the technology, it found that the remaining 61 percent...
A new study has found that those aged between 18 and 34-years-old remain optimistic about the British economy despite fears circulating Brexit. In the months following the EU referendum vote, the study found that the overall measure of consumer confidence remained buoyant. In the Deloitte Consumer Tracker Q4 2016 [PDF], it found that confidence remained resilient and was particularly strong among...
Services giant Deloitte, one of the so-called ‘Big Four” accounting firms in the world has officially opened a new blockchain lab in Dublin, established to cater the clients in Europe and the Middle East. Announced yesterday, the new EMEA (Europe, the Middle East, Africa) blockchain lab is based in Dublin’s “Silicon Docks” district, a neighborhood that is home to a number of technology and...
Deloitte, one of the “Big Four” accounting firms is launching an exclusive blockchain lab in New York’s Wall Street district to research and develop financial blockchain-based solutions. Calling 2017 the ‘make-or-break’ year for blockchain technology, the lab’s focus will look toward creating “ready-to-integrate” solutions for Deloitte’s clients in the financial services industry. To aid in its...
China, a country that already plays a critical role in cryptocurrency due its dominance in bitcoin trading and mining, will support blockchain development as part of its recently-announced five-year plan, according to the state council website. The 13th Five-Year Plan (2016-2020) period has had a strong start and is poised to fulfill all key targets set by the central government for economic...
When Bitcoin first became popular, much mainstream coverage focused on its illicit uses. Then a revolution in thought led people to understand the less sinister benefits of Bitcoin, and namely its underlying technology, the blockchain. Many experts suppose blockchain could revolutionize numerous industries, with financial technology receiving most of the coverage in 2016, which some observers...
In a notable endorsement and application of blockchain technology, the Dutch City of Rotterdam is working with Deloitte Netherlands and the Cambridge Innovation Center (CIC) to develop a real estate blockchain application to record lease agreements. First announced by Deloitte Netherlands, the aim of the blockchain pilot project is to conclude legally binding lease contracts “faster and easier”...
The second annual EtherCamp hackaton has entered its voting phase. Judges will decide the winners of the $50,000 prize. Spectators can also participate by voting with tokens for which project should win. When the competition ends, the teams can then keep those funds to continue their development. The hackathon features a panel of judges, each of which will have 1,000 tokens to contribute towards...
Deloitte, one of the “Big Four” accounting firms, joins RWE Innogy and WanXiang Blockchain Labs in becoming the third sponsor of the Ether Camp hackathon and virtual accelerator. Alex Shelkovnikov, Deloitte Ventures & Blockchain Lead from Deloitte, who is also a judge on the hackathon, said “We are really pleased to be sponsoring the Ether.Camp online Hackathon. We are looking forward...
London-based FinTech company SETL, Metro Bank, and global accounting firm Deloitte, have teamed up to develop a contactless card to enable faster transactions and settlement times for retail payments on the blockchain, in a recent announcement. In an initial test more than 100 people used the contactless smartcards to make purchases from shops that had the contactless terminals equipped. The test...
With all the investment and experimentation financial institutions are devoting to blockchain technology, research organizations are getting a better idea of what the future financial services infrastructure will look like. Deloitte Consulting LLP and the World Economic Forum have taken a pragmatic approach to determining how blockchain, or distributed ledger technology (DLT) will help financial...
Loyalty reward programs have been growing rapidly for a long time, but they are not realizing full potential on account of customer account inactivity, time delays, low redemption rates, high transaction and system management costs, high customer acquisition costs and low client retention. The Deloitte Center for Financial Services (DCFS), in a recent report, claims blockchain technology can...
Deloitte, one of the ‘Big Four’ accounting firms in the world has purchased and unveiled a bitcoin ATM in its building in Toronto.
BitGo’s Mike Belshe has said that questions raised about the security of bitcoin with some suggesting that digital currencies can never be secure are wrong. After Mt. Gox, the second biggest security breach of a bitcoin exchange took place earlier this month when the Hong Kong-based Bitfinex halted trading after hackers stole around $70 million worth of users’ bitcoins. As a result, questions...
Deloitte found a way to use blockchain technology to improve product warranties at its recent three-day hackathon. The innovative product warranty demonstrates how blockchain can improve a regular task such as managing a product warranty. A summary of the application has been posted on the Deloitte website. Consumers have long found product warranties problematic since warranties are easily lost...
The Bank of Ireland, in collaboration with services firm Deloitte has successfully completed a joint proof-of-concept blockchain trial. The trial demonstrated the implementation of a distributed ledger as an accessible data layer, over existing financial systems while focusing on trade reporting. In a press release communicated to CCN by the Bank of Ireland today, the bank has, in partnership...
In an interactive branded paper on their website, Deloitte singles out blockchain as being the “Enigma. Paradox. Opportunity.” Deloitte, being an internationally recognized firm that provides audit, consulting, tax, and advisory services to some of the largest companies in the world clearly wants in on the potential action. Discussion continues to swirl around Bitcoin and blockchain among heavy...