Building on its global fintech and innovation practice, leading “Big Four” consultancy giant Deloitte has announced the opening of its new EMEA blockchain lab at Whitaker Court in Dublin’s “Silicon Docks” district.

The opening of the Dublin Lab follows the client-centric blockchain lab in New York’s Wall Street district established earlier this month.

Located in the Silicon Docks area, the lab’s neighbours includes the likes of Google, Facebook and others. According to the official release, the Dublin based blockchain team will now move from its current location at Deloitte Ireland HQ. The lab is opening with the existing team of more than 25 blockchain developers and designers and expected to be joined by 25 more by year end.

“We are still at the early stages of the adoption of blockchain technology. But it is becoming increasingly clear that this technology is transforming the infrastructure underpinning financial services and other industries. It is bringing dramatic improvements in efficiency and customer experience”, David Dalton, Financial Services Partner, Deloitte said.

In addition to the official opening of the new lab, Deloitte also officially announced the launch of a number of products which have been built by the Dublin based team.

"I am very pleased that Deloitte is expanding its Blockchain research activities in Dublin, as part of the company's worldwide research in this area”, Minister for Jobs, Enterprise and Innovation, Mary Mitchell O'Connor said. “Blockchain is attracting significant worldwide attention due to its range of potential applications in the wider Financial Services area and it is great news that Ireland will be at the heart of this exciting development, helping to push out the frontiers, for our mutual benefit".

With over 800 professionals across 20 countries, Deloitte’s global blockchain team works with international organisations looking to introduce blockchain-enabled solutions. To date, Deloitte has developed more than 30 blockchain-related prototypes, covering a uses such as digital identity, digital banking, cross-border payments, trade finance, and loyalty and rewards solutions, as well as distinct efforts for the investment management and insurance sectors.