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VeChain’s new partnership could bring blockchain technology to dozens of untapped industries

August 17, 2020

The VeChain Foundation has partnered with the auditing and consulting firm Grant Thornton Cyprus.

According to a company announcement, The association hopes to be able to expand blockchain solutions to various industries. These are largely determined by the Cypriot company’s customer network, but can include the food industry, pharmaceuticals, logistics, automotive, supply chain management, renewable energies, e-commerce and more.

Grant Thornton, Cyprus Director of Distributed Technology, Alexis Nicolau, discussed the company’s interest in blockchain development and noted that blockchain technology legislation in Cyprus is “imminent”.

VeChain’s new partnership could bring blockchain technology to dozens of untapped industriesVeChain’s new partnership could bring blockchain technology to dozens of untapped industries

Sunny Lu, VeChain’s co-founder and CEO, believes the pandemic has helped to restructure the global economic order. He said the situation had encouraged VeChain to accelerate the “digitization that increases the need for digital solutions” in the post-pandemic era.

Recently, the VeChain Foundation announced a blockchain-based food safety solution based on their Blockchain-as-a-Service platform.

The services offered by the platform include traceability templates for origins traceability, cross-border traceability, entire process traceability and much more.

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