A lot of individuals and companies claim they see merit in cryptocurrency payments. Very few of them effectively embrace this solution. In a recent turn of events, PwC Luxembourg confirms it will introduce Bitcoin payments come October 2019.
A Bold Move by PwC Lu
One has to commend PricewaterhouseCoopers for keeping their cryptocurrency and blockchain vision alive. The company has been a proponent for both industries for many years now. To ensure they put their money where their mouth is, they also embrace both technologies. Come October 2019, PwC Luxembourg will accept Bitcoin payments from its clients. A remarkable decision, especially when considering how Bitcoin adoption remains a pressing problem.
According to the company, Bitcoin has kept its initial promise made 10 years ago. It is the first peer-to-peer payment method which can’t be compromised. Additionally, it is based on a decentralized trust model. During its ten years of existence so far, neither of those aspects has changed in the slightest. Although there are still issues to overcome, PwC Lu’s clients have inquired about making Bitcoin payments for some time now.
Investing in the Field
One of the main reasons why PwC Lu made this decision is due to its previous commitments and investments in the cryptocurrency field. As such, it simply wouldn’t do to not accept Bitcoin payments themselves. Moreover, the company will continue to build solutions for clients, and now doubles down on doing so by accepting Bitcoin transactions.
Although the move itself remains challenging first and foremost, it also introduces new opportunities. For PwC Lu, there has been a careful review of internal policies to meet the crypto industry standards required. Additionally, the company has been working together with a local regulated exchange in Luxembourg.
A Promising Region for Bitcoin
This news comes at an interesting time for the cryptocurrency industry. Despite promising price momentum, none of the markets has had a strong showing in 2019. Slowly but surely, the infrastructure for Bitcoin continues to expand. That is a good sign, as it shows the currency is global by default. Using it as a payment method is crucial to ensure future growth can be achieved.
One of the reasons why PwC can make this decision is due to the regulatory ecosystem in Luxembourg While it is a tiny country, it has a great appreciation for cryptocurrencies in general. This allows any domestic company to fully take advantage of what that industry has to offer. PwC Luxembourg is the first major entity to do so. Only time will tell if others follow their lead by example.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency or digital currency.