VeChain, a leading business friendly public blockchain platform, announced today that it has partnered with one of the oldest independent accounting firms in the world, Grant Thornton, to advance blockchain solutions for Grant Thornton’s clients.
The Cyprus-based accounting firm took its technology services to the next level when it introduced blockchain capabilities to the service platforms of one of its units, which are now active in more than 135 countries around the world.
The upgrading of a blockchain entity in September 2018 is an indication that Grant Thornton has envisaged the prospect of using the blockchain solution to further its ability to exchange permanent data in the business world.
Grant Thronton hopes to draw on VeChain’s wealth of experience in delivering blockchain solutions and leverage VeChain’s blockchain support to meet the needs of its potential customers in all walks of life, from pharmaceuticals to agribusiness to automotive services up to logistics companies.
VeChain intends to support Grant Thornton with the benefit of its VeChain ToolCahin, a blockchain platform specifically designed for business environments that will serve as an “always-on” standardization mechanism for adoption and integration.
According to the announcement, Sunny Lu, CEO of VeChain commented:
The pandemic was an imminent restructuring of the global economic order that underscores the urgency to accelerate digitization, which increases the need for digital solutions after the pandemic. We are eager to explore more business scenarios with our partner Grant Thornton Blockchain Cyprus and are excited to see what will come as a result of this partnership.
Among other things, the collaboration will pave the way for both domestic and foreign institutions to take advantage of new opportunities when they use blockchain technology in companies.
Additionally, Alexis Nicolaou, Director of Distributed Ledger Technology (DLT) at Grant Thornton, agrees that VeChain’s support will help Grant Thornton on their journey to provide ultimate, trusted solutions to its customers in a variety of sectors including the entertainment and healthcare industries to offer. He added:
With blockchain technology legislation imminent in Cyprus, Grant Thornton Cyprus invests in partnerships with industry leaders to meet the needs of its customer base and other local and overseas companies. The extensive range of applications of VeChain ToolChain ™ helps us to meet these requirements in the most effective and efficient way.
On the one hand, the VeChain blockchain network continues to experience increasing acceptance and at the same time improve its use cases. Earlier this month, Coinfomania reported that VeChain launched a market-ready blockchain food safety solution to meet the urgent needs of the food industry.
See also: VeChain-based token farm to pilot large-scale tracking of tomatoes made in Italy
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