While some of the largest accounting firms are pushing the development and implementation of private blockchains, New York-based Ernst & Young (FY16 net revenue of $11.2 billion) is leading the Bitcoin industry to the mainstream, according to Cointelegraph, an independent publication covering cryptocurrencies.
EY has already provided EY secure digital wallet applications to all EY employees in Switzerland. The digital wallet allows users to send and receive Bitcoins in a safe and secure ecosystem. EY also installed a Bitcoin ATM in their public office in Switzerland, enabling its clients and employees to purchase and sell Bitcoins.
Starting in 2017, EY Switzerland is accepting Bitcoin payments for all of its consulting services.
Marcel Stalder, the CEO of EY Switzerland says in a statement, “We don’t only want to talk about digitalization, but also actively drive this process together with our employees and our clients. It is important to us that everybody gets on board and prepares themselves for the revolution set to take place in the business world through blockchains, two smart contracts and digital currencies.”
According to Cointelegraph, only EY, of all the Big 4, is allocating its resources and capital for the development of Bitcoin. Others are focusing on the so-called “permissioned blockchain,” or private blockchains.