Accenture Advised UK Government to Regulate Bitcoin Wallets
According to an investigation by Coindesk, the U. K. government is currently working to understand the developments in the cryptocurrency industry, and has recently been advised by Accenture to start regulating bitcoin wallets. According to the company, the biggest problem associated with bitcoin is its negative reputation for being used in money laundering and criminal activities. Note that Accenture has also welcomed progress in the digital currency industry and is eager to see more of its practical uses explored. Prior to this the U. K. government has released a call for more....
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The UK government should apply the same regulation and identification requirements to bitcoin wallets as it does to bank accounts, Accenture has suggested. Documents obtained by CoinDesk through a Freedom of Information request show the multinational management consulting company's response to the Treasury's call for information on digital currencies. Dated December 2014, the company takes a very positive stance on cryptocurrencies, such as bitcoin, highlighting their potential. Accenture states: "Digital currencies are at an early stage of development and usage, but they are here to stay....
Around the same time as Accenture's call for the UK government to regulate bitcoin wallets, Citi suggested that officials should look into creating their own digital currency. This has been revealed in the Treasury's release of a document entitled "Digital Currencies: Response to the Call for Information". This report summarizes all the submissions received by the government after it urged the public to assist them in understanding the workings of the digital currency industry. The Treasury received more than 120 responses and has outlined the proposals and the government's next steps.....
Earlier this year, Accenture conducted their 2014 North American Consumer Payments Survey, which revealed surprising data about the rate of digital currency adoption. The Accenture survey revealed that those in the 18-34 age group or those that had higher income were more likely to use digital currencies such as Bitcoin. Of those that used digital currencies, the majority stated that they did so because it "protects personal identity," with the second most cited reason being "lower cost transactions." To get a better idea of what one of the top consulting firms is planning to do regarding....
Global professional services group Accenture has announced a prototype that they call an “editable blockchain.” The firm says the concept addresses immutability concerns and the right to be forgotten laws. Accenture Editable Blockchains Preferred By Banks. Last week, an executive from Accenture described Bitcoin’s immutability as a weakness. Now, the....
A financial innovation lab operated by management consulting firm Accenture has added a blockchain startup to its latest class. Accenture's 2016 FinTech Innovation Lab London, the company announced yesterday, will include 15 startups. Crowdaura, which uses blockchain technology as a mechanism for issuing securities via crowdfunding, is the sole blockchain startup to be included in the class. The selected startups will spend 12 weeks working with Accenture staff and executives from a variety of major financial institutions including Bank of America, Deutsche Bank, HSBC and Société Générale.....