Deloitte installs bitcoin ATM open to the public at its Toronto office to teach employees the basics of blockchain technology

Francesca Washtell
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Utah Software Engineer Mints Physical Bitcoins
Members of the public can now exchange bitcoin for Canadian dollars and other currencies (Source: Getty)

Deloitte launched its first bitcoin ATM to the public yesterday at its office in Toronto, where its Rubix blockchain division is based, in a bid to take employees back to the basics of cryptocurrency technology.

The Big Four accounting firm unveiled the terminal to employees on Tuesday, before opening its doors for public use on Wednesday.

​The bitcoin transaction machine (BTM) was made by Canadian firm Bitaccess and can exchange digital currency for up to 1,000 bills in local dollars and several other currencies.

Read more: These big banks are working on a digital currency together

Although blockchain is now being applied to everything from tracking tuna to public health services, the use of a shared ledger that continuously records transactions or information first gained notoriety in 2008 and 2009 when bitcoin was launched.

By bringing bitcoin back to its blockchain lab, Deloitte hopes the "hands-on" access to the currency will in turn boost the company's engagement with the technology.

"We see this as being an important milestone for us as an organisation. It's a move to improve accessibility and hands-on learning as [a] first step toward greater blockchain adoption," Deloitte's Rubix strategy director, Iliana Oris Valiente, told CoinDesk.

Deloitte has been a vocal supporter of blockchain and, though its Rubix team is based in Canada, it works on enterprise blockchain applications with global clients.​

Read more: Will bitcoin ever be more than an alternative asset?

Last year, Deloitte's report "Bitcoin at the crossroads" claimed the cryptocurrency does not need to be regulated yet.

It compared bitcoin to other technologies like the telephone and the internet, which we both given decades to mature before being subject to tighter regulation.

There are 110 bitcoin ATMs in Canada and more than 30 across the UK, according to Coin ATM Radar.

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