EY Unveils Strategy to Create Mainstream BTC Traction In Switzerland

newsbtc | November 25, 2016 | 2:30 pm
EY Switzerland Bitcoin

EY Unveils Strategy to Create Mainstream BTC Traction In Switzerland

newsbtc | November 25, 2016 | 2:30 pm

EY is one of the most prominent service providers around the world. But even that company has to look into innovative concepts over time. As of January 2017, clients of their Swiss branch can settle invoices in Bitcoin. Moreover, the company commissioned a Bitcoin ATM in their public office building in Zurich. It is evident EY has a clear plan to push Bitcoin adoption, and Switzerland is the place where it all begins.

Switzerland is quickly turning into one of the most bitcoin-friendly nations around the world. Rather than opposing cryptocurrency, it is possible to spend Bitcoin for public services in the Zug canton. Now that EY goes big on Bitcoin as well, things are evolving at an accelerating pace. In fact, all of the company’s Swiss branch employees will start using a digital wallet app to receive and spend Bitcoin.

EY Goes All-in On Bitcoin In Switzerland

The decision by EY to go all-in on Bitcoin is somewhat unexpected. Installing a new Bitcoin ATM in their public office building is a significant step forward. Moreover, this device can be used by both staffers and passers-by, making it a great marketing tool for the company. It is positive to see the company take active action towards embracing Bitcoin and blockchain, rather than talk about it.

But the biggest news is how EY clients will be able to pay consulting services with Bitcoin come 2017. In doing so, they become the largest public company to accept cryptocurrency payments. Additionally, the EY Garage-Lab is working together with clients to advance smart contract technology. In this day and age of digitization, such a drastic change seems more than warranted, though.

EY Partner Advisory Financial Services Daniel Haudenschild told the media:

“In our innovation lab, the EY Garage-Lab, we are working together with our customers to advance the development of digital products based on Smart Contracts. Together with digital currency, they can fully exploit their advantages, such as low transaction costs or automated processing.”

The company wants to help guide its clients into the new era of digital business operations.By covering five key pillars, they are attempting to build confidence in a digital world. Additionally, they will guide enterprises and support them during this transformation. It appears bitcoin plays an integral part in their business model moving forward.

Header image courtesy of Shutterstock

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