PwC Luxembourg announces plans to accept Bitcoin payments

[hugeblack]

PwC is in the news again after PwC Luxembourg recently announced in a press release that it would start accepting payments made using cryptocurrencies from clients beginning from 1 October, 2019.

The move was welcomed by executives at the firm, with Thomas Campione, Director, Blockchain & Crypto-assets Leader at PwC Luxembourg commenting,

“We could not continue to invest in the field, promote it, build solutions for clients and support their transformation while not also being exposed to it.”

The move comes as a result of growing demand and a strong belief in blockchain technology.
More & Source -----> https://eng.ambcrypto.com/pwc-luxembourg-announces-plans-to-accept-bitcoin-payments-from-clients/
It seems that cryptocurrency technology will have a place in the future of the economy as claimed by the Luxembourg Department.
The company is also building a range of PwC-branded blockchain products.

[AdolfinWolf]

I'm sorry, but i'm quite confused? What exactly is PWC?
Is this them? https://www.pwc.co.uk

Do they offer some sort of services? Never heard of them before.

PwC is a network of firms in 158 countries, 721 locations, with 250,930 people.[4] As of 2018, 28% of the workforce worked in Asia, 28% in North America and the Caribbean and 30% in Western Europe.[7] The company's global revenues were $41.3 billion in FY 2018, of which $17.06 billion was generated by its Assurance practice, $10.45 billion by its Tax practice and $13.78 billion by its Advisory practice.[8] PwC provides services to 420 out of 500 Fortune 500 companies.[4]

Interesting, but still quite unclear what exactly these services pertain.  (Or how and why their clients would pay them in cryptocurrency. I can't imagine any fortune500 company would want to do so.)

Looks like tax laws and evasion of it is their main expertise. Hmm. “This is good for bitcoin?”

[NeuroticFish]

I'm sorry, but i'm quite confused? What exactly is PWC?
Is this them? https://www.pwc.co.uk

Do they offer some sort of services? Never heard of them before.

PwC is a network of firms in 158 countries, 721 locations, with 250,930 people.[4] As of 2018, 28% of the workforce worked in Asia, 28% in North America and the Caribbean and 30% in Western Europe.[7] The company's global revenues were $41.3 billion in FY 2018, of which $17.06 billion was generated by its Assurance practice, $10.45 billion by its Tax practice and $13.78 billion by its Advisory practice.[8] PwC provides services to 420 out of 500 Fortune 500 companies.[4]

Interesting, but still quite unclear what exactly these services pertain.

PricewaterhouseCoopers (PwC) are in top 4 biggest audit companies in the world. And afaik audit is not their only business; and they have high level contacts in basically each and every business, so this this great advertising for Bitcoin.

However, according to wiki, they've started accepting Bitcoin already in 2017...

[LeGaulois]

However, according to wiki, they've started accepting Bitcoin already in 2017...

I searched the web and I found some articles old from 2017, it was concerning only the office in Hong Kong (from what I conclude). And the article in the OP mentions the office in Luxembourg. They must have different ways of working depending on the country.

- http://www.businessinsider.fr/us/a-big-four-accounting-firm-is-accepting-bitcoin-payments-2017-11

- https://cointelegraph.com/news/big-four-accountancy-firm-pwc-now-accepts-bitcoin-payments#targetText=The%20decision%20by%20PwC%20to,time%20in%20its%20short%20history.

@AdolfinWolf Yeah, PWC is big and reputed. It's also an accounting firm. The thing is PWC is very well educated about Bitcoin and blockchain, I've already read a lot of articles and studies from them

[1Referee]

However, according to wiki, they've started accepting Bitcoin already in 2017...

They temporarily accepted payments in Bitcoin unofficially in 2017. They never actually accepted Bitcoin outside the few transactions they accepted from a few local clients in HongKong.

This time it seems to be them accepting Bitcoin more widely and more importantly, officially, which is pretty cool considering how influential they are. It really seems that these firms have started to display classic sheep behavior when it comes to accepting Bitcoin. One after another jumps on the bandwagon.

It's pretty much a free form of a massive exposure boost. Accepting Bitcoin as a large firm makes you reach headlines and attract a new group of users who might not have used their services would they not accept Bitcoin. Yeah. Love it.

[Slow death]

This is news that just brings more exposure to bitcoin, because honestly I doubt many people use their bitcoins to pay for the services provided by this company. People will continue using they bitcoin as means of investment. maybe if one day many governments legalize bitcoin we might see many people use bitcoin to buy things in their countries

[LeGaulois]

This is news that just brings more exposure to bitcoin, because honestly I doubt many people use their bitcoins to pay for the services provided by this company. People will continue using they bitcoin as means of investment. maybe if one day many governments legalize bitcoin we might see many people use bitcoin to buy things in their countries

Dude, PWC works only with medium and large companies like Tesco, Sony, BMW, and even banks, not with random individuals.
They won't audit your bank account to check how consistent you're to pay your bills. lol

[BitHodler]

Dude, PWC works only with medium and large companies like Tesco, Sony, BMW, and even banks, not with random individuals.
They won't audit your bank account to check how consistent you're to pay your bills. lol

Just because they work with a wide variety of worldwide known companies doesn't mean any of them will bother to conduct transactions in Bitcoin. Makes little sense to me with how volatile the price is.

I think it's more of a publicity stunt rather than them actually expecting a serious surge in revenue. They know better than that. On the other hand, exposure for PwC is also exposure for Bitcoin, and this time it's positive.

I might sound a bit like a skeptic, but that's more like me being realistic, which means to look at it rationally rather than looking at it with my perma bull cap on. Bitcoin just doesn't get spent much. It's too scarce for that.

[shield132]

I'm sorry, but i'm quite confused? What exactly is PWC?
Is this them? https://www.pwc.co.uk

Do they offer some sort of services? Never heard of them before.

PwC is a network of firms in 158 countries, 721 locations, with 250,930 people.[4] As of 2018, 28% of the workforce worked in Asia, 28% in North America and the Caribbean and 30% in Western Europe.[7] The company's global revenues were $41.3 billion in FY 2018, of which $17.06 billion was generated by its Assurance practice, $10.45 billion by its Tax practice and $13.78 billion by its Advisory practice.[8] PwC provides services to 420 out of 500 Fortune 500 companies.[4]

Interesting, but still quite unclear what exactly these services pertain.  (Or how and why their clients would pay them in cryptocurrency. I can't imagine any fortune500 company would want to do so.)

Looks like tax laws and evasion of it is their main expertise. Hmm. “This is good for bitcoin?”

As others already stated meaning, that was also explained in article too.
By the way great news, cryptocurrencies are going to be adopted by financial institutes, nothing to talk about blockchain technologies, seems there is really massive interest from everyone, for example recently Brazil started to use blockchain technologies in Birth registry, now they are going to adopt it in other section, in overall very positive news.

[audaciousbeing]

Reading through I can conclude that its really a news to rely on. For those in the doubt as to whether this news from PWC is something to behold, I can say it is because it a firm with worldwide presence and they consult to the highest level of operations of any company and government functions. In addition to that, they parade some of the brightest mind in their operations. Their services goes beyond audit even though its an accounting firm but also into consulting that covers virtually all activities of human endeavor. This news is sweetening to me not because PWC alone is making the statement but because of the actions that are likely to follow because when Companies want to make decisions regarding blockchain or crypto currency, they will be called upon and their recommendations goes to the highest decision making body of such organisation not leaving out governments.

[LTU_btc]

I had to Google what is PwC Luxembourg. Seems it's big and solid company. And I can only congratulate them with nice move. But again, everytime when we see such news, we always question how many people will use it. But this time we are talking not about individuals, but big companies which use these services. And I'm not sure that many companies will choose Bitcoin payment option instead of traditional methods.

[roosbit]

If this gets to happen then there is a high chance that other hubs of PWC located around the world will use the blockchain technology for different services the render to their clients not to mention this is actually a big company, I guess the blockchain technology is really making ground with all these adoption news we keep hearing about everyday.