Bitcoin is now being accepted at PwC in Hong Kong for its advisory services, showing just how far crypto currencies have evolved.
The firm is working closely with companies in the digital asset and crypto currency space, and has recently started accepting Bitcoin payments. Raymond Chao, Chairman of PwC Asia-Pacific reported that;
“We are pleased to now be in a positon to accept crypto-currencies as a form of payment for our services…This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services. It is also an indication that Bitcoin and other established crypt-currencies have now developed into more broadly accepted forms of settlement”
This is a big move for such a large firm, but they strongly believe that by accepting Bitcoin as a form of payment that it would perfectly complement the advisory work that they provide for their customers, especially since they work closely with clients in the crypto currency sector. The aforementioned advisory services include token sales advice, such as Initial Coin Offerings, or ICO’s, crypto exchanges and the launch of crypto funds.
Andrew Watkins, the Chief Technology and Disruption Officer, spoke about the service and how it will benefit both the customers and the company, stating;
“Disruptive digital products and services that have been developed through Distributed Ledger Technology (more commonly known as Blockchain), such as crypto currencies or PwC’s supply chain trust solution, are already transforming existing businesses in many areas, and it’s still relatively early days for this technology…PwC is committed to being at the forefront of these exciting developments.”
PwC uses a multidisciplinary team to advise their clients, and you can use the popular crypto currency to pay for services that include strategy consulting, technology advisory, risk management, governance and internal controls, taxation and accounting products.
The world of crypto currency is constantly evolving, and it is moves like this that really help push these along. Both Bitcoin and Ethereum are two of the most popular crypto currencies, and both the Chicago Mercantile Exchange and the Chicago Board Options Exchange have both announced plans to launch Bitcoin contracts, allowing their investors to hedge against movements in the currency. This means that firms such as PwC can enter further into the crypto currency space, by working closely with them, something that they are very keen to do.