PwC Becomes First “Big Four” Firm To Accept Payment In Bitcoin

Regulators may be skeptical of the burgeoning ICO market, where outright fraud isn’t uncommon, but that isn’t stopping some of the world’s largest audit and consulting firms from trying to win their business.
PWC revealed that it will begin accepting payment for its consulting services in bitcoin because it is increasingly working with startups in the city involved in cryptocurrencies and blockchain, the open-ledger technology that processes bitcoin transactions by logging them on a public record. The firm also noted its advisory work for initial coin offerings – which typically collect payment in bitcoin and Ethereum – along with crypto exchanges and crypto funds, according to the Wall Street Journal.
‘This decision helps illustrate how we are embracing new technology and incorporating innovative business models across our full range of services,’ Raymund Chao, chairman of PwC Asia-Pacific, said. ‘It is also an indication that bitcoin and other established cryptocurrencies have now developed into more broadly accepted forms of settlement.”
ICOs have two important characteristics that would pique PwC’s partners’ interest: Plenty of cash on hand, and many intractable problems.

This post was published at Zero Hedge on Dec 1, 2017.

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