Deloitte choose Dublin as part of its FinTech initiative
Deloitte today announced Dublin as the base for the creation of an EMEA Financial Services Blockchain Lab as part of its FinTech initiative ‘The Grid’.
Deloitte Ireland has over 2,000 people in Ireland and provides audit, tax, consulting, and corporate finance services.
Blockchain is a protocol to perform financial transactions using encrypted virtual currency often referred to as Bitcoin.
According to Deloitte ‘Blockchain is a distributed general ledger recording that a transaction happened, when it happened and that it happened correctly, without exposing any confidential details about the subject or the parties’ involved. When we talk about Blockchain we often mean the Bitcoin Blockchain, which is the general ledger of the cryptocurrency Bitcoin’
The firm will build a team of 50 people over 18 months to be based in the Dublin centre. The lab’s team will comprise blockchain developers and designers.
Blockchain developers look after the back-end technology, while the designers will create and manage how the application looks.
In addition to existing blockchain specialists within the Deloitte network roles will be available locally for blockchain developers for back-end developments, in addition to digital specialists for the design of client and user interfaces.
Managing Partner, Deloitte Ireland, Brendan Jennings commented: “We are proud that Ireland has been chosen as the location for this lab. Not only was the strength, expertise, and proven capability of the Deloitte Ireland blockchain team recognised, but the proximity to the headquarters of many global technology companies, our strong focus on innovation and R&D, and the support from governmental institutions, academia, and the local FinTech industry were all key factors in securing this investment. We’re excited as an organisation to be positioning Ireland as being at the forefront of progressing this exciting technology.”
Minister for Jobs, Enterprise and Innovation, Mary Mitchell O’Connor commenting on the announcement, said: “I very much welcome this initiative by Deloitte as a further enhancement of Ireland’s attractiveness for the financial services sector. This sector has been a powerhouse over recent years, providing significant numbers of high quality jobs.”
Source: Busines World
