Deloitte Spints-Out Part of Rubix Team to Focus on Blockchain Application Development

Deloitte Spints-Out Part of Rubix Team to Focus on Blockchain Application Development

Deloitte announced this week that they have spun-out the infrastructure component of their Rubix offering, to sit outside of the firm, in order to scale and grow faster as a leader in blockchain application development, integration, and advisory services.

Rubix 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 has made significant investments in growing and developing a blockchain-focused technology capability, to guide clients through end-to-end blockchain-based transformations. Rubix is dedicated to scaling its capabilities to support increasing demand from clients.

“Together with Matthew Spoke, we decided to spin out a portion of Rubix, specifically the custom Rubix kernel infrastructure built on Ethereum,” said Jas Jaaj, Partner, Deloitte.

“This decision gives Deloitte the ability to focus on our core strengths -- decentralized application development and industry knowledge. The majority of the Rubix team remains within Deloitte and is growing,” added Iliana Oris Valiente, an original founder, and strategy leader of the Rubix team.

The decision by Deloitte leadership to restructure the team was made to allow for the acceleration of speed to market for the platform, by enabling access to external capital which will support future growth requirements.

“This felt like the right move for everyone and is part of Deloitte’s proactive innovation strategy that aims to enable new business models,” said Jaaj.

The Rubix team will continue to provide best-in-class distributed application development and technology integration capabilities to clients, while working with multiple blockchain platforms. Deloitte will maintain a strong marketplace relationship and alliance with the spun off company, Nuco, adding to Deloitte’s global FinTech and blockchain ecosystem. Any existing Rubix pilots or solutions will be fully supported by partnering with NuCo as necessary.

Deloitte’s commitment to clients is unchanged. The firm will develop the products that are best suited for their needs, identifying business use case opportunities and building solutions on an appropriate infrastructure. Deloitte will continue to collaborate with the evolving ecosystem players through vendor relationships and partners.

About Deloitte

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://www.deloitte.com/about/ for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.


Related News

Deloitte Team Launches Custom Blockchain Solution Rubix Core

Earlier this month, the Rubix by Deloitte team started rolling out their beta product, Rubix Core, with an early release to a group of selected clients in preparation for an upcoming broader release. Founded in Toronto by Deloitte in 2014, Rubix wants to bring start-up speed and enterprise reliability to the blockchain market, bridging the gap between the exponentially innovative nature of blockchain technology and the complexity of existing enterprise system environments. The team wants to position itself as an industry-leading blockchain infrastructure provider, focusing on....

'Big Four' Accounting Firm Deloitte is Now Running a Bitcoin ATM

'Big Four' accounting firm Deloitte is now the owner and operator of its first bitcoin ATM. After a quiet unveiling yesterday in the downtown Toronto offices of Deloitte's Rubix blockchain division, the bitcoin transaction machine, or BTM, is now ready to exchange digital currency for Canadia dollars. The move by Deloitte to host a bitcoin ATM is being positioned by the founder of Rubix as a way for the company to teach its employees and others in the area about blockchain by going back to its roots. Now the strategy leader of Rubix by Deloitte, Iliana Oris Valiente, told CoinDesk:....

Deloitte: Pro Audit Standards “Benefit Blockchain Principles”

Global consultants Deloitte have announced the successful completion of their latest test project which brings “professional audit standards to Blockchain transactions.” In a release earlier on Tuesday, the firm stated that it wanted to “enhance the utility and trust of a permissioned Blockchain system” through the application of existing industry standards. "For the purposes of this project, we selected an internally-developed loyalty points Blockchain application built by our Rubix by Deloitte team on a permissioned Ethereum network as a test case," Iliana Oris Valiente of....

Deloitte Sets Good Example, Installs Bitcoin ATM in Toronto Office

Deloitte unveiled their new personal Bitcoin ATM machine in their Toronto office off Yonge St. The Bitcoin ATM itself will be used heavily by Deloitte’s Rubix division which specializes in Blockchain technology. This will provide Deloitte with a faster and simple option when buying Bitcoin for their Blockchain research and development. With a public launch on Sept 7, now anyone can use their ATM at the Rubix office on the 2nd floor lobby. The Bitcoin ATM will be able to buy and sell Bitcoin with a 1% fee for both buying and selling. The ATM itself was made by Ottawa-based BitAccess and....

Deloitte Partners With Blockchain Startup Colu

Coloured coins startup Colu has revealed it is embarking on a partnership with multinational consulting firm Deloitte. A Monday blog post from the Tel Aviv firm, which launched its open beta in August, said the collaboration will bring blockchain technology to "big new markets". Though details are scarce, the project will involve Rubix, the software platform that lets Deloitte clients build their own apps - including ticketing systems and registries - on the blockchain. Amos Meiri, Colu's CEO, told CoinDesk: "For the last couple of months we've been meeting with Deloitte representatives....