PWC Goes Bitcoin, Also Advises on Crypto ICOs
- PwC is taking it a step further by giving advice to customers about crypto funds and investments.
Big Four accounting firm PricewaterhouseCoopers (PWC) will be the second mega professional services company to offer its clients the possibility of settling their invoices in Bitcoin, the Wall Street Journal reported Thursday.
PwC is one of the famed Big Four tax and accounting companies in the world, which also includes Deloitte, EY and KPMG, all of which generate yearly revenues of over $20 billion. The step is an initiative of PwC in Hong Kong and there are no plans as of yet to roll it out across its branches globally.
PwC isn’t the first Big Four firm to adopt Bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term as Ernst & Young (EY) already enabled its clients earlier this year to pay for products and services using the decentralized cryptocurrency. Also, other professional services have been eyeing this trend for quite some time as Bitcoin and other established Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term have now been more broadly accepted as forms of settlement.
Meanwhile, the pro-Bitcoin push may not only aim to lower transaction costs for its advisory services but seems part of a wider strategy to promote the developments of digital products. Specifically, PwC is taking it a step further by giving advice to customers about crypto funds and investments, cryptocurrency exchanges and fundraising through token sales, or ICOs. This will include advisement on new processes, risks, regulatory policy, and tax guidelines.
Commenting on the news, PwC Asia-Pacific chairman Raymund Chao said: “This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services.”
Big Four accounting firm PricewaterhouseCoopers (PWC) will be the second mega professional services company to offer its clients the possibility of settling their invoices in Bitcoin, the Wall Street Journal reported Thursday.
PwC is one of the famed Big Four tax and accounting companies in the world, which also includes Deloitte, EY and KPMG, all of which generate yearly revenues of over $20 billion. The step is an initiative of PwC in Hong Kong and there are no plans as of yet to roll it out across its branches globally.
PwC isn’t the first Big Four firm to adopt Bitcoin Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term as Ernst & Young (EY) already enabled its clients earlier this year to pay for products and services using the decentralized cryptocurrency. Also, other professional services have been eyeing this trend for quite some time as Bitcoin and other established Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term have now been more broadly accepted as forms of settlement.
Meanwhile, the pro-Bitcoin push may not only aim to lower transaction costs for its advisory services but seems part of a wider strategy to promote the developments of digital products. Specifically, PwC is taking it a step further by giving advice to customers about crypto funds and investments, cryptocurrency exchanges and fundraising through token sales, or ICOs. This will include advisement on new processes, risks, regulatory policy, and tax guidelines.
Commenting on the news, PwC Asia-Pacific chairman Raymund Chao said: “This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services.”