Deloitte announces multi-million investment to launch EMEA Financial Services Blockchain Lab
Friday 27 May 2016
The Deloitte network of member firms join forces on blockchain. As part of its broader FinTech initiative The Grid, the firm is now creating an EMEA Financial Services Blockchain Lab. The blockchain lab will be coordinated out of Dublin and will involve specialized teams from across Europe. Deloitte Luxembourg’s own blockchain development team will take an active part in the lab’s work.
“A collaborative approach is essential for blockchain technology to gain traction, within and beyond an organization. There are a lot of different blockchain initiatives and developments in the broader Deloitte network right now and we have decided to combine our expertise. We believe that blockchain will transform financial services and other industries, and we are committed to taking an active part in this development in Luxembourg and across the EMEA region,” explains Patrick Laurent, Partner and Technology Leader at Deloitte Luxembourg and member of the steering committee of the Grid Blockchain Lab.
While the full EMEA blockchain lab team will consist of 50 specialists and be built over the next 18 months, the lab’s current team already comprises blockchain developers and designers. Blockchain developers look after the “nuts and bolts” of the application, or the back-end technology, while designers create and manage how the application looks.
The team will focus on developing blockchain capabilities and proof-of-concepts into functioning prototypes to create “ready to integrate” solutions for Deloitte’s financial services clients. It will work with leading technology companies looking to roll out blockchain-enabled solutions across different countries.
The lab will serve as the Deloitte EMEA center of excellence in blockchain and will work alongside specialist teams in other member firms across the region, including Luxembourg.
Deloitte recently announced partnerships with five leading blockchain technology companies as part of its global blockchain delivery initiative. It will also work closely with the firm’s wider global initiatives and centers of excellence in digital, analytics, and information management.
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