On August 17, VeChain announced its collaboration with Grant Thornton Cyprus to leverage the former’s advanced blockchain to facilitate blockchain solutions for Grant Thornton’s vast array of clients globally.
VeChain has high interests in partnerships with companies worldwide for real-time blockchain solutions. So far, it has a network through Japan, Singapore, China, Italy, France, and many more. One of the notable partnerships is with PwC, a leading auditing company in terms of service providers. Others include Bayer China, BMW, Walmart China, Shanghai gas, to mention but a few.
Grant Thornton, on the other hand, is a leading financial services provider. Its reach is globally over 135 countries for advisories, assurance, tax, auditing, business support of both the public and private sectors, and others.
Grant Thornton Cyprus Introduction of Blockchain Department
Considering its wide variety of clients, Grant Thornton Cyprus decided on integrating a distributed ledger department. The launch of the new branch would bring along more technological services offered by the company. The launch was back in September 2018, with the company aiming to provide advice to industries in local and foreign businesses, hoping to implement the technology.
Currently, the branch facilitates educational services for training and seminars concerning blockchain technology. It conducts research and development into proof of concept, feasibility, exploratory, product advancements, and blockchain architecture. Lastly, the company provides blockchain strategies and advisories to any of its clients, thinking of utilizing blockchain technology.
A New Era of Possibilities for Companies Globally
Grant Thornton’s blockchain department hopes to derive technical and industrial expertise from VeChain. Likewise, it will be able to deliver whatever services its clients require accordingly. The step Grant Thornton Cyprus took is a clear sign of the seamless opportunities blockchain offers in different sectors.
Most importantly, the global financial service provider recognizes blockchain’s ability to transform the supply chain, healthcare, finance, e-commerce, clean energy, and others. It hopes that the collaboration with VeChain will help in transcending all these areas while issuing the right ways out for all who depend on it.
The Endgame
As per Sunny Lu, the CEO and Co-Founder of VeChain, COVID-19 is distorting economic structures worldwide, and now more than ever, digitization is the best adoption to move past it. He hopes that in conjunction with Grant Thornton, they will explore avenues in business and solutions that are more fruitful in the coming days.
VeChain hopes to leverage its ToolChain ™’s excellent design to provide Grant with an efficient foundation for future projects. Overall, industries worldwide will find a doorway into endless probabilities through blockchain.
Alexis Nicolaou, the Director of Grant Thornton Cyprus Distributed Ledger Technology, stated that with the eventual introduction of blockchain legislation in Cyprus, investing in collaborations with leading companies in the industry, it will be able to cater for the growing clientele base. He expects that ToolChain™ will present a favorable infrastructure to make this happen.
