Deloitte Chooses NYC As Blockchain Hub

Deloitte has made clear its ambitions for blockchain, most recently by revealing it had invested in blockchain startup SETL, based in the U.K. And last October, the company announced the launch of Deloitte Catalyst, an incubator to support startups using disruptive tools like blockchain.

But its biggest show of confidence for the technology was announced last week when Deloitte revealed the creation of a blockchain lab in New York City. Currently, the lab, named the Americas Blockchain Lab at Deloitte, houses more than 20 developers and designers to explore use cases for blockchain and develop proofs of concept and solutions that can be integrated for real-world scenarios.

“Financial institutions have the power and ability to move blockchain to the next level,” said Deloitte Consulting Principal Eric Piscini in a statement. “To get here, companies will need to move away from churning out proofs of concept and begin producing and implementing solutions.”

The launch of the lab comes as Deloitte has declared that 2017 will be a “make-or-break” year for the technology that has seen massive interest among financial institutions and innovators, yet with few working tools in use so far.

The lab is also aligned with Deloitte’s declaration that collaboration is critical to the success of any blockchain-based tool. In an interview with PYMNTS last month, Piscini explained that the slew of blockchain consortia emerging serves as proof that real-world blockchain solutions cannot be developed in isolation.

“Industry consortia will be critical to unlocking mass-scale value and keeping blockchain relevant in 2017,” he stated. “With more than 20 consortia in place already, we are on our way to success.”

“Smaller consortia are critical for one simple reason,” he added. “If you are on your own in blockchain, the value is extremely limited.”

Deloitte did not reveal which innovators or startups are a part of the Americas Blockchain Lab.