‘Big Four’ accounting firm Deloitte is launching a new blockchain-focused research and development lab in New York.

The lab, based in the Wall Street district, is the second formal blockchain-focused lab opened by the consultancy after its Ireland division launched a similar facility in Dublin last May.

More than 20 developers and specialists will be based out of the New York lab, Deloitte said, focusing on a clientele that will, at least initially, draw primarily from the area’s financial services industry – though the firm said that the lab will see it work with companies from other sectors as well.

2016 saw Deloitte work with a number of companies in the finance space, including a group of Japanese banks that undertook an interbank payments trial using blockchain and released their initial findings in December.

Deloitte principal Eric Piscini said in a statement:

“Financial institutions have the power and ability to move blockchain to the next level. To get there, companies will need to move away from churning out proofs of concept and begin producing and implementing solutions. That’s a big part of the goal with Deloitte’s blockchain lab.”

Additionally, the New York facility is the first of several further labs focused on blockchain development that the firm has scheduled for launch over the course of 2017.

Image Credit: Deloitte