Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home Cloud
    • Cloud

    Deloitte Backs Blockchain With New Development Lab

    By
    Guest Author
    -
    May 25, 2016
    Share
    Facebook
    Twitter
    Linkedin
      Deloitte

      By Michael Moore

      Blockchain has gained another significant backer in the European financial industry today after Deloitte revealed it will be opening a specially focused center for the technology.

      Based in Dublin, the EMEA Financial Services Blockchain Lab will form part of Deloitte’s fintech initiative ‘The Grid’, with the company looking to bring around 50 staff on board.

      The launch and backing of a large entity like Deloitte should help push blockchain, which is the backhaul technology behind online transactions using cryptocurrencies such as Bitcoin, further into the public consciousness.

      Deloitte says that the newly-expanded team will consist of both developers and designers, who will look to investigate the potential capabilities blockchain can bring, after the company recently announced partnerships with five leading blockchain technology companies.

      The team will also develop proof-of-concepts into functioning prototypes to create “ready to integrate” solutions for the firm’s financial services clients, and work with leading technology companies that are looking to roll out blockchain-enabled solutions across different countries, giving more businesses access to the technology than ever before.

      “Blockchain technology is disrupting the financial services industry for the better when it comes to transparency, efficiency and improving trust,” said David Dalton, head of financial services at Deloitte Ireland.

      “There is significant demand from clients who are looking to use blockchain to speed up payments and transfer clearances, settlements, reconciliations and digital identity, and many other use cases. By bringing together the best of Deloitte experts and building upon our capabilities, we believe our lab will play a significant role in lifting blockchain use to a new level.”

      Support for blockchain technology has been growing quickly across the United Kingdom in recent years, as an increasing number of businesses look to harness its potential to provide smoother and more secure online transactions.

      Last month, the technology received a major show of support from the U.K. Government after Cabinet Office Minister Matthew Hancock confirmed it was looking into how the technology could be used to manage and keep track of the distribution of public money, such as grants and student loans.

      This is despite the Bank of England raising its suspicions about Bitcoin last year, warning that the digital currency could pose a threat to financial stability in the United Kingdom should it see widespread adoption.

      Guest Author

      MOST POPULAR ARTICLES

      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Android

      Samsung Galaxy XCover Pro: Durability for Tough...

      Chris Preimesberger - December 5, 2020 0
      Have you ever dropped your phone, winced and felt the pain as it hit the sidewalk? Either the screen splintered like a windshield being...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×