Deloitte Spins-Out Part of Rubix Team to Focus on Blockchain Application Development

Source:
Press Release

CA, June 23, 2016 at 22:55 BST

Toronto, June 23, 2016 – Deloitte announced this week that they have spun-out the infrastructure component of their Rubix offering, to sit outside of the firm, in order to scale and grow faster as a leader in blockchain application development, integration, and advisory services.

Rubix is Deloitte’s blockchain technology offering in Canada, exclusively working on enterprise blockchain applications. The Rubix by Deloitte team provides advisory services and builds decentralized applications (Dapps) on multiple blockchain platforms for clients across industries, in Canada and globally. Deloitte has made significant investments in growing and developing a blockchain-focused technology capability, to guide clients through end-to-end blockchain-based transformations. Rubix is dedicated to scaling its capabilities to support increasing demand from clients.

“Together with Matthew Spoke, we decided to spin out a portion of Rubix, specifically the custom Rubix kernel infrastructure built on Ethereum,” said Jas Jaaj, Partner, Deloitte. “This decision gives Deloitte the ability to focus on our core strengths -- decentralized application development and industry knowledge. The majority of the Rubix team remains within Deloitte and is growing,” added Iliana Oris Valiente, an original founder, and strategy leader of the Rubix team.

The decision by Deloitte leadership to restructure the team was made to allow for the acceleration of speed to market for the platform, by enabling access to external capital which will support future growth requirements. “This felt like the right move for everyone and is part of Deloitte’s proactive innovation strategy that aims to enable new business models,” said Jaaj.

The Rubix team will continue to provide best-in-class distributed application development and technology integration capabilities to clients, while working with multiple blockchain platforms. Deloitte will maintain a strong marketplace relationship and alliance with the spun off company, Nuco, adding to Deloitte’s global FinTech and blockchain ecosystem. Any existing Rubix pilots or solutions will be fully supported by partnering with NuCo as necessary.

Deloitte’s commitment to clients is unchanged. The firm will develop the products that are best suited for their needs, identifying business use case opportunities and building solutions on an appropriate infrastructure. Deloitte will continue to collaborate with the evolving ecosystem players through vendor relationships and partners.

About Deloitte

Deloitte, one of Canada's leading professional services firms, provides audit, tax, consulting, and financial advisory services. Deloitte LLP, an Ontario limited liability partnership, is the Canadian member firm of Deloitte Touche Tohmatsu Limited.

Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited, a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity. Please see www.deloitte.com/about for a detailed description of the legal structure of Deloitte Touche Tohmatsu Limited and its member firms.

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Caitlin Stidwill Deloitte P: 416-775-7144 [email protected]

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