Bitcoin.com.au appointed a new CEO, Ben Ingram, a former director of digital strategy at one of the Big 4 accounting firms, Price Waterhouse and Coopers (PwC).
Ingram left PWC earlier this year in March. In his new role, he will work on the development of crypto financial products. The former director is particularly focusing on developing investment products for the Australian superannuation market.
According to Ingram, “There’s not many tangible examples of crypto-based investment products yet… SMSF’s have typically been the preserve of the wealthy. It’s a vehicle where you can manage your own investments, and you also carry the cost of that audit.”
An Investment Product for the Millennials
Ingram believes that the easy audit-ability of blockchain-based cryptocurrencies like Bitcoin may lead many millennials to manage their assets themselves. Moreover, investment funds that focus on cryptocurrencies may also encourage millennials to invest in the digital asset.
Investors may see crypto-funds as a hedge against their central bank investments, according to Ingram.
Expansion of Bitcoin.com.au
Currently bitcoin.com offers Bitcoin and Ethereum transactions only. Ingram sees the company expanding to offer other cryptocurrencies as well.
Commenting on the bitcoin.com.au exchange, Ingram says that it’s not a full exchange, but it’s “more of a gateway service.”
Bitcoin.com.au provides users “one of the easiest ways” to start investing in Bitcoin — and also to “get back out of Bitcoin,” according to him.
Commenting on transaction-related features, Ingram mentioned same-day settlement, where the user gets cash back into their account on the same day they do the transaction.
This is certainly not the first time we’ve heard PwC’s name in connection to blockchain-based projects. In fact, in March, the accounting firm announced a blockchain auditing service to enable companies to do an independent review of their blockchain usage.
A. Michael Smith, a partner at PwC, says the service enables companies to independently ensure that the technology is working as it should be. Besides cryptocurrency trading and user verification, the blockchain technology can find use for auditing financial transactions as well. Motivation for the service came from use of the technology by PwC’s own clients.
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