ICON (ICX), World’s Largest Accountancy Firm Sign MoU To Incubate Blockchain-Based Startups

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ICON – the decentralized network allowing for independent blockchains to transact with one another irrespective of their chosen governance models – has paired with Deloitte Startup Advisory Group after Thursday saw JH Kim (Council Member, ICON Foundation) meet with Deloitte’s YS Kim (Managing Director) to partake in an MoU signing ceremony.

The MoU (i.e., Memorandum of Understanding) outlines that both ICON and Deloitte Startup Advisory Group will work to “develop, empower and commercialize blockchain based projects.”

Most of these collaborative efforts will go through the Deloitte Blockchain Lab; an initiative that has already developed and commercialized over thirty blockchain projects. Per the ICON Foundation’s announcement, the South Korean-based project believes that “both companies’ competitiveness in the blockchain industry” are destined to strengthen as a result of Deloitte’s in-house lab having now been granted access to ICON’s technology.

We expect to expand our blockchain network and activities with the collaboration of Deloitte’s global network and partners.” – JH Kim

The outcomes of this MoU extend far beyond testing ICON’s applicability with blockchain projects already working under the Deloitte accelerator, with Thursday’s press statement also revealing that “the two companies will continue to search for promising blockchain startups.”

Additionally, the ICON Foundation stands to benefit from the ability to draw upon the provision of the Deloitte Startup Advisory Group’s professional services. Already well versed in commercializing blockchain-based projects, the Group will handle consultation requirements that pertain to areas of finance, taxation, risk management and accountancy. They will also assist blockchain startups by sourcing investment capital and supporting in overseas expansion.

June has certainly been a busy month for ICON thus far. Earlier in the week, they launched the mobile (Android) version of ICONex; the wallet developed by ICON which is able to support their native cryptocurrency (ICX), ether (ETH), and ERC20-compliant tokens.

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