Deloitte brings Bitcoin ATM to Toronto’s Financial District
Move improves accessibility and hands-on learning as first step toward greater blockchain adoption in Canada.
Deloitte’s dedicated blockchain technology offering, Rubix by Deloitte, has installed an ATM that dispenses bitcoin, the cryptocurrency that blockchain technology underpins, at their downtown Toronto office.
The bitcoin ATM, also known as a BTM, is centrally located in Toronto’s Financial District at the intersection of Yonge and Adelaide. The BTM is built by Ottawa-based Bitaccess and enables users to buy or sell bitcoins using cash.
The driving force behind the acquisition of the BTM is an effort by Deloitte to improve accessibility to bitcoin and provide a hands-on learning experience for clients as well as the broader community.
“The first step toward wider blockchain adoption is knowledge, and the logical entry point is to first understand how bitcoin works. The goal is to make bitcoin more accessible so that users can experience blockchain technology first hand to deepen their understanding and ultimately increase adoption,” said Iliana Oris Valiente, an original founder, and strategy leader of the Rubix by Deloitte team.
“Our research shows that rapid advances in technology are disrupting many industries here in Canada and bringing significant changes to our business landscape,” added Ian Chan, Partner and Deloitte’s Exponentials and Innovation Leader. “Blockchain is one such exponential technology. We hope that this BTM will increase people’s understanding and access to bitcoin, so that they’re better prepared to embrace and respond to the advancement of blockchain.”
The BTM is simple to use, requiring no prior or technical background from users and needing only a mobile phone number to buy and sell bitcoins.
“Deloitte has shown themselves to be a leader in financial innovation through their Rubix team. Partnering with Deloitte on this project is a natural fit for Bitaccess. It further advances our mission to commercialize blockchain technologies,” said Moe Adham, co-founder of Bitaccess.
Rubix by Deloitte is Deloitte’s blockchain technology offering in Canada, exclusively working on enterprise blockchain applications. The Rubix by Deloitte team provides advisory services and builds decentralized applications (Dapps) on multiple blockchain platforms for clients across industries, in Canada and globally.
Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.
Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.
Please see http://www2.deloitte.com/us/en.html about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.
BitAccess's mission is to provide people and businesses around the world with access to digital currency-based technology. The company has installed Bitcoin ATMs in half a dozen countries. Its focus is on developing digital currency and blockchain technologies that are secure, accessible and easy-to-use.