‘Big Four’ accounting firms – Deloitte, Ernst & Young (EY), KPMG and PwC, have decided to meet at Microsoft's headquarters in New York City to discuss on establishing their own blockchain consortium.

Specialists from these accounting giants will be present at the event along with the American Institute of Certified Public Accountants. The event is being hosted by Consensys, an Ethereum-based startup, and will consist of series of presentations on the potential applications of the distributed ledger technology and on building a consortium.

“We are bringing together accounting blockchain industry experts to explore and to determine the value of a joint accounting and blockchain industry consortium,” Griffin Anderson, Head of Blockchain Accounting at Consensys, and the man behind the gathering, told CoinDesk.

Deloitte, EY and PwC have been working in the blockchain industry in a long run. Last month, Deloitte developed a proof of concept to address regulatory transaction reporting in blockchain environment. PwC had partnered previously with Blockstream to bring blockchain technology and services to companies around the world and recently entered into a business relationship with BitSE to bring blockchain technology to the Asia Pacific market.