Deloitte Launches Its First Bitcoin Teller Machine in Toronto Office

Image credit: Deloitte Touche Tohmatsu (Deloitte Touche Tohmatsu 2007 annual review) [Public domain], via Wikimedia Commons


Deloitte, one of Canada’s leading professional services firms, launched its first Bitcoin ATM (BTM) at one of its offices in Toronto, Canada. Deloitte has been involved heavily in the blockchain & fintech space over the past two years.

In May of this year, the firm established a 50-person blockchain developer lab in Dublin, Ireland. Deloitte also collaborated with BlockCypher, Bloq, ConsenSys Enterprise, Loyyal and Stellar on twenty different blockchain-based prototypes for the financial industry, four of which were unveiled at the Consensus 2016 blockchain conference in New York.

Deloitte has also released several papers on the applications of blockchain technology in financial markets (Blockchain Enigma. Paradox. Opportunity), as well as a report which highlighted Israel’s rise as a global financial technology center.

The firm has mostly focused on private and permissioned blockchain systems, but yesterday’s unveiling of the new Deloitte BTM is a first for the financial services giant.

Several photographs surfaced on Twitter of the new Deloitte BTM. Michael Perklin, President of The CryptoCurrency Certification Consortium, was photographed yesterday operating the new BTM: Two other photos from the Twitter feed of blockchain advocate Hillary Carter, shows Iliana Oris Valiente - co-founder of Rubix, Deloitte’s blockchain application development team - standing next to the Deloitte BTM: Deloitte's BTM was supplied by Canadian manufacturer Bitaccess, which features a large touch screen, allowing users to turn cash into digital currency and vise-versa.

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5 comments :

  1. "In May of this year, the firm established a 50-person blockchain developer lab in Dublin, Ireland". Well as usual Ireland is the venue for more development, this time the blockchain. On the fringe of Europe but not on the fringe of technology this shows that Ireland is not frightened to be forward looking as crypto currencies become the viable payment medium of the future.

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  2. This is the coolest thing ever - not just for Canada, that was expected but for the rest of the world. We used to have only one BTC ATM in my country but now they changed it and installed another one in my hometown.
    This gives a great hope for the bitcoin progress and I am so glad that we are a part of it.

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  3. We've had Bitcoin ATMs in Australia for a couple of years now, however to be honest I don't think they have been very successful for a couple of reasons:

    1. The exchange rate offered by the Bitcoin ATMs isn't as good as you would get trading online. This alone makes them not very attractive.
    2. Identification - One of the key benefits of bitcoin is anonyminity, however to purchase bitcoin from the Australian ATMs you need to have your photo taken and a copy of your Drivers Licence scanned. I would prefer to buy my bitcoin anonymously in person from another individual - keeping my privacy and also helping out another member of the community as opposed to a corporation.
    3. Convenience - In my area most bitcoins would be used for online transactions as opposed to buying things in person. Because of this it's actually less convenient to go to the ATM than to just buy your BTC online, especially considering that after you purchase it you are just going to go home again to use it.

    I would love to see bitcoin be more widely adapted, however I think that bitcoin ATMs are somewhat similar to the gold bullion dispensing ATMs - probably a good news story but ultimately they won't catch on.

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  4. Not just cool but super cool. This machine is an important milestone and a move to improve accessibility and hands-on learning as a first step toward greater blockchain adoption. As what i've read online this machine can exchange digital currency for up to 1,000 bills in local dollars and several currencies. I'm really hoping that few years from now bitcoin will be used around the world.

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  5. Super coolest for me. This machine is an important milestone and a move to improve accessibility and hands-on learning as a first step toward greater blockchain adoption. Canadian firm Bitaccess made the bitcoin transaction machine, which can exchange digital currency for up to 1,000 bills in local dollars and several other currencies which made it the super coolest invention. Two thumbs up for this!

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