And cryptocurrencies offer more advantages. ‘You can follow a crypto coin on its entire journey to regular currencies such as dollars and euros. That is why people with crypto assets are often willing to donate cryptocurrencies to charities and NGOs. ‘This enables donors to see how their donations are being used – and how much of it actually goes to the cause itself. It was quite a challenge for the non-profit organization we helped to transition to a crypto fund. So they approached Deloitte, because we have a Web3-team with plenty of expertise in the field of blockchain. We understand both the old world and the new one.’
Successful introduction
During the first stage of the project, Tommie’s team built up knowledge of the non-profit organisation. ‘What does it mean for an organisation to work with cryptocurrencies? How to receive cryptocurrencies safely, where to “stock” them securely, and how to distribute them afterwards? This, and more, is what we mapped. The set-up and introduction were a big success. Currently, the non-profit organisation has received various donations in cryptocurrencies.’ After that the second stage of the project took place: the re-evaluation. ‘What has changed, what is the current situation? What new risks have emerged? How to deal with volatility? For the first stage we were paid in US dollars, but after the second stage the client – understandably - asked us if they could also pay us in cryptocurrencies.’
At the time, that was not yet an option, even though Deloitte was already doing client projects in this field. ‘This was a great case of “practice what you preach. ‘I joined Deloitte five years ago to develop our ambitions in the field of crypto and blockchain. Our team consisted of people with various backgrounds, from cyber security to economics and from accounting to psychology. All of them had a strong affinity with crypto and blockchain. Outside of our “bubble”, there is often a lot of resistance. However, that was not the case at Deloitte. And now we are the first of all Deloitte member firms (worldwide) and the first Big Four firm in the Netherlands to have a crypto wallet, so we can be paid in cryptocurrencies.’
The door to other revenue models
‘It’s a big step’, Tommie concludes. ‘For me, it’s the door to other revenue models. So much is happening in ecosystems like these – you really need to be ready for change. Part of the cryptocurrencies we received from the non-profit organisation were used to purchase a piece of art called “The Totem”. The ownership certificate is an NFT, which is also a sort of cryptocurrency, but unique and irreplaceable. It’s a digital token that proves that you are the owner. The Totem is located at our Amsterdam office (The Edge). It’s an excellent example of how to use digital currencies.’
4tu career special
This article appeared in the 4TU Career Special, a shared publication by the news editors of Cursor TU Eindhoven (Technische Universiteit Eindhoven University of Technology), TU Delta (TU Delft University of Technology), Resource Wageningen UR (Wageningen University & Research) and U-Today (University of Twente).
