Deloitte: Bitcoin is the best tool to gain in-depth understanding of blockchain

The co-founder of Deloitte’s blockchain unit Rubix said the bitcoin ATM currently located at the firm’s Toronto office is a permanent device.

The “eureka moment” brought by Bitcoin

Iliana Oris Valiente, co-founder and business development manager of Rubix, Deloitte’s blockchain division, told us that many customers have gained a lot of inspiration when they use this ATM for the first time.

Most Bitcoin community members also said they had experienced the same scenario. Experiencing Bitcoin firsthand can help them gain a higher level of participation and truly feel the true potential of blockchain technology.

Oris Valiente said:

Suppose you have a foreign customer, and the currency transaction between you and him does not need to go through any bank, and you also know clearly that there is no third party involved in the process. This is the best way to demonstrate blockchain technology. Only when you are there can you have a flash of inspiration.

Although a large number of financial companies are actively exploring different use cases for blockchain technology, most are reluctant to touch the word "Bitcoin" or are shy about admitting that they are using this digital currency.

Rubix and Deloitte are trying to reverse that. Oris Valiente said her project was launched in 2014, when Bitcoin was the entry point for her project because blockchain technology was not widely known at the time and Bitcoin was the only working example of the technology.

We have never rejected Bitcoin as a virtual currency. We have only followed our clients’ wishes to explore distributed ledger technology for use cases beyond currency.

Connecting the Future of Blockchain with Bitcoin Machines

Deloitte’s Bitcoin machine is not a temporary promotion. They purchased the BTM directly from Canadian vendor BitAccess and have no plans to remove it.

Oris Valiente said that since they installed the Bitcoin ATM, many clients have expressed interest and expressed their willingness to visit Deloitte's office to experience it in person.

In addition, she also said that although the outside world has demonstrated a wide range of use cases for various blockchain technologies, Rubix would rather be a "technology agnostic", that is, it tends to stand from the customer's perspective and develop more applicable solutions.

At the same time, Rubix is ​​active in both the Ethereum and Bitcoin open source communities, and is actively exploring other blockchain and distributed ledger technology platforms.

Deloitte has established collaborations with many large corporate clients, focusing on industries such as healthcare, supply chain, loyalty points, etc.

Bitcoin is the best way to learn blockchain technology

Bitcoin ATMs and the use of Bitcoin itself remain the best way for newcomers to experience blockchain technology firsthand and truly understand its potential to disrupt business models.

Oris Valiente said:

In our opinion, we are doing this (installing Bitcoin ATMs) to bring people closer to blockchain technology. Because the more unknown something is, the more distant it will make people feel, and people will not be able to really participate in it. Our goal is to popularize the education and application of blockchain technology.

PwC, one of the "Big Four" accounting firms, has also publicly made similar statements in support of Bitcoin. PwC believes that only by using Bitcoin can one understand its disruptive potential, and it cannot be arbitrarily considered that it is a threat to the financial sector.