How you can learn more about old fashioned trust
from a new innovation?
As a global service leader, we at Deloitte rely on established methods and proven technology. That doesn’t mean we don’t let you experiment. With a good idea and a serious action plan, you will probably find that with us more doors open than you ever believed possible.
Jeroen Bulters, Junior Manager Cyber Risk Services, and his team devised an innovative application of blockchain technology:
‘At many organizations, new technology may be seen and talked about, but usually that’s where it ends. With Deloitte, that’s where it begins. A long time ago, I was talking with colleagues about blockchain, the data structure upon which Bitcoin is based, among other things. Much of the infrastructure that we rely on daily is made up of nothing more than lists in which all data changes are tracked. The services and software that we use are reliant on databases that function as ledgers. Money, for example, is now mostly found in databases: the ledgers of financial institutes which store all balances and transactions. But, in principle, you can do that with all kinds of information.
I wanted our ideas to become more than just talk. So seven colleagues and me locked ourselves up for three days in Rotterdam to develop a proof-of-concept for a proper application of blockchain technology. All of us kept space in our diaries for this and, while we worked on it, colleagues in the hallway would become more and more curious. At the same time, we thought that it might not be appreciated for us to be trying to figure something out on our own.
"Everyone knows places where people talk about new technology. We are finally going to do it."
During these three days, we brainstormed over how we could utilize blockchain. As one of us photographed all the ideas and sketches, I noticed that his camera was missing the battery cover. He said that he had to take it back to the shop, but he couldn’t find the receipt with the guarantee. And there was our idea! To set up guarantee arrangements using blockchain technology that would be digitally transferable and accessible for anyone to see at any moment. No more frustration with lost receipts!
Things went quickly from there. On Friday, we pitched the concept to a number of directors and partners at Deloitte, on Monday to a higher committee, and a week later we were sitting with an insurance company to see if they were interested in becoming a strategic partner in the project. It was fantastic to experience for a few days the climate of a start-up within a big name organization. For big name partners to join an innovation project in such a short time is not something that happens just anywhere.
Another application that we’re currently exploring has to do with using blockchain to facilitate the organization of temporary workspaces with related facilities, from the use of an espresso machine to the opening of doors. Or what about the IT system behind an election? The possibilities are endless, although of course the technology itself will also have to be taken through a lot of developments. But I have every confidence in this – I haven’t given both my children Bitcoin piggy banks for nothing. Practice what you preach!’
Making an impact that matters
There are many Deloitte employees besides Jeroen who are experimenting with new technology or new ways of providing services. This is based on the idea that it’s better to explore the possibilities of the future rather than be surprised by it. At Deloitte, we always want to be in the driver’s seat. Do you see a dot on the horizon and have a plan to get there? Then we will gladly help you achieve that. Check out our job vacancies.