Big Four Accounting Firm Deloitte Testing Payments in Bitcoin As PwC Branch Gears Up for Crypto
Big Four accounting firm Deloitte is allowing its employees to pay for lunch with Bitcoin (BTC) as a way to test the cryptocurrency’s usefulness.
A partner at New York-based Deloitte’s advisory arm says,
“We think it’s good to have our [staff] assess this new technology.”
However, the source notes that Deloitte isn’t focusing on micropayments and that it’s not permitting its customers to pay for its services with Bitcoin.
Bitcoin transactions are finalized after six confirmations, with each BTC confirmation taking around 8 minutes. A six-block confirmation can take more than 49 minutes.
Given the slow processing times, the test will reveal if paying for lunch with Bitcoin is feasible or if staff members are waiting too long for payment confirmations.
Earlier this month, another Big Four accounting firm, PricewaterhouseCoopers’ (PwC), announced that its Luxembourg branch will begin taking Bitcoin payments from its customers on October 1, 2019.
According to the official statement,
“The move to embrace crypto-payments is also a strong reflection of carefully listening to the growing demand from the market and PwC Luxembourg clients and offering them a secure payment alternative reflecting the evolution of our economy.”