Deloitte says it is working with five blockchain companies – BlockCypher, Bloq, ConsenSys, Loyyal (formerly known as Ribbit.me) and the Stellar Development Foundation – to provide new technological capabilities to its global financial institution client base. The company is developing 20 blockchain-related prototypes that cover uses like digital identity, digital banking, cross-border payments, and loyalty and rewards, as well as in the investment management and insurance sectors.

Deloitte’s approach involves collaborating with its clients from idea stage through to the end commercialization, serving as the consultancy version of an incubator. “Blockchain is proving to be a major disruptive force in financial services,” said Joe Guastella, a principal with Deloitte Consulting, and U.S. and global leader of the financial services practice.

[Image courtesy: BlockCypher]

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