- Deloitte Employees Now Buy Food with Bitcoin (BTC)
- Bitcoin Is Denounced to Slow Down Transactions – Will BTC Payments Work Effectively?
- PwC Luxemburg Will Start Accepting Bitcoin (BTC) As a Payment in October
Bitcoin News Today – Deloitte is currently testing how to buy food with Bitcoin (BTC). The use cases of Bitcoin (BTC) are increasing on a daily basis. More businesses, firms, and merchants across the globe are now accepting cryptocurrencies, especially Bitcoin (BTC), as a means of payment. This has also helped to boost the awareness and adoption of digital currencies over the past years. The recent effort of the multinational accounting services company – Deloitte – has provided more answers for those asking about the real-world use cases of digital currencies and other nascent technologies.
Deloitte is also referred to as the accountancy firm of Big Four. Recently, the firm started testing the real-life usefulness of Bitcoin (BTC) by letting its staff purchase lunch with Bitcoin (BTC) at the cafeteria for a practice run.
Deloitte Employees Now Buy Food with Bitcoin (BTC)
Deloitte stated that the pilot run provides its staff with a get a hands-on approach to new technologies and also allowing them to assess its practical application before the company considers its adoption. In a statement, Deloitte clarified that they do not have digital currency or micropayment solutions in the pipeline yet. Rather, the auditing and accounting giant is focusing on the implementation of blockchain technology to enhance and streamline the otherwise labyrinthine auditing processes.
Auditing procedures are pretty complex. According to the firm, blockchain can significantly make these processes simple by spreading up the threefold of the transactions and eliminate the need for middlemen.
Bitcoin Is Denounced to Slow Down Transactions – Will BTC Payments Work Effectively?
Bitcoin (BTC) is based on blockchain technology. However, the digital currency has often been denounced for slow transactions. The Bitcoin network only allows payment to go through when it gets about six confirmations. Typically, it takes about eight minutes for a Bitcoin (BTC) transaction to go through. Hence, unless the firm wants to allow its staff gorge on its daily lunch menu without having to wait for the final confirmation of the BTC payment. Chances are the staff would have to get ready for lengthy queue lines.
One of the best possible way sot fix this issue is to improve the scalability of Bitcoin (BTC) with Lightning Network. The Lightning Network is a channel that has been known to process more than 50,000 transactions per second.
PwC Luxemburg Will Start Accepting Bitcoin (BTC) As a Payment in October
Recently, PwC Luxemburg – another Big Four accountancy firm – announced that it would start accepting Bitcoin (BTC) as a means of payment for its services in October. It would be fascinating to see if the successful stint of PwC at BTC adoption triggers some interests in Deloitte and other firms.