‘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 cash.
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:
“We see this as being an important milestone for us as an organization. It’s a move to improve accessibility and hands-on learning as first step toward greater blockchain adoption.”
The BTM was manufactured by Bitaccess, an Ottawa-based company, and it can accept up to 1,000 bills in multiple currencies.
Rubix by Deloitte is the accounting firm’s blockchain technology offering based in Canada, which works exclusively on enterprise blockchain applications with clients around the world.
A second chance
Initial enthusiasm around bitcoin ATMs in 2014 never really materialized, with a total of only about 775 bitcoin machines currently in operation around the world, according to CoinATMRadar.com.
But the symbolic power of the “Big Four” accounting firm partnering with Bitaccess isn’t lost on the bitcoin company’s founder, suggesting the devices may have a second life as educational tools and resources.
Bitaccess co-founder Moe Adham said in a statement:
“It further advances our mission to commercialize blockchain technologies.”
Iliana Oris Valiente with Deloitte bitcoin ATM via Deloitte