Deloitte Netherlands launches Center of Expertise for Blockchain services

19 July 2018 Authored by Consultancy.eu

The Dutch arm of Deloitte, Deloitte Netherlands, has launched a Center of Expertise for Blockchain services. Around one hundred of the firm’s blockchain and cryptocurrency experts in the country have joined the new community. 

Deloitte Netherlands has around 5,500 professionals; accountants, auditors, financial advisors and consultants. A growing number of those are working in the blockchain realm. “We have a dedicated team of blockchain programmers and experts who are deployed across all disciplines – from Audit to Financial Advisory and from Risk Advisory to Consulting and Tax & Legal,” said Toon Segers, partner at Deloitte and responsible for the blockchain practice.

He added that the rapidly rising demand from the business community in the Netherlands for blockchain technology applications has prompted Deloitte to open a dedicated Blockchain Center of Expertise (BlockCenter). “The BlockCenter is where all of Deloitte’s blockchain expertise is accumulated.” BlockCenter will focus on proposition development, thought leadership, development of prototype solution and facilitate staffing requests for blockchain-related engagements.

The move by the Dutch follows in the footsteps of initiatives taken by other Deloitte firms in Europe. In 2016, the Big Four firm for instance launched an EMEA Financial Services Blockchain Lab. Coordinated out of Dublin, the community focuses on the development and implementation of blockchain services and technologies at banks, insurance companies and asset managers, among others. And last year, both Deloitte UK and Deloitte France unveiled significant investments in blockchain practices. 

Deloitte Netherlands launches Center of Expertise for Blockchain services

“Deloitte’s worldwide blockchain network encompasses well over a thousand experts,” said Segers. Outside of North West Europe*, Deloitte has similar blockchain communities – the US member firm established a large Blockchain lab in the firm’s New York’s Wall Street office, while from Singapore the Big Four firm leads a blockchain team that serves the Asian market.

Across its global footprint, Deloitte regards blockchain as one of the most important sources for disruption in industries from financial services and retail to government and logistics. “Already supply chain, asset management and property businesses are definitely benefiting from the application of blockchain,” explained Jacob Boersma, a senior manager in Deloitte’s blockchain team. 

While acknowledging the massive potential which can be unlocked through the technology, Segers and Boersma warn that it's key for organsiations to not boil the ocean on the matter, and carefully look beyond the hype. “Blockchain is not a silver bullet and it shouldn’t be treated as a solution to all problems. This is where we come in to support our clients. Deloitte’s unique combination of experience, technical expertise and knowledge of legal, tax and compliance aspects allows it to look beyond the hype.” 

Deloitte Netherlands has meanwhile been active on the M&A market this year, acquiring Tytho, a tax consulting and software company, and AEPEX, a SAP supply chain consultancy.

* Deloitte North West Europe consists of the member firms in Belgium, Denmark, the Netherlands, Finland, Iceland, Norway, Sweden, the UK and Switzerland. The region has 28,000 partners and professionals, generating over €5 billion in annual revenue. 

Related: A.T. Kearney and PwC back French blockchain incubator Chain Accelerator.

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