The firm will create 50 jobs over the next 18 months and they will be based in the Dublin centre. The lab’s team will comprise blockchain developers and designers. Blockchain is a coding technology that allows a number of parties to track and record transactions without the need for a central database, which makes it less susceptible to tampering and fraud.
“We are proud that Ireland has been chosen as the location for this lab. Not only was the strength, expertise, and proven capability of the Deloitte Ireland blockchain team recognised, but the proximity to the headquarters of many global technology companies, our strong focus on innovation and R&D, and the support from governmental institutions, academia, and the local FinTech industry were all key factors in securing this investment. We’re excited as an organisation to be positioning Ireland as being at the forefront of progressing this exciting technology.”
Brendan Jennings, Managing Partner, Deloitte Ireland
The technology is a cornerstone of “crypto currencies” like Bitcoin. Firms like Deloitte are increasingly looking at its potential application in the wider financial services industry.
The company recently announced partnerships with five leading blockchain technology companies as part of its global blockchain initiatives.
“The decision by Deloitte to locate this blockchain lab in Ireland is a great endorsement of the technical expertise available here. This type of investment directly complements the developing cluster of professional services firms carrying out commercially focused and client-oriented innovation in Ireland. Deloitte’s EMEA Financial Services Blockchain Lab will be an important reference site for IDA Ireland as we work to attract additional investment from technology-focussed professional services companies to Ireland.”
Martin Shanahan, CEO, IDA Ireland
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