PwC, one of the “Big Four” tax and accounting companies in the world has had a valuable partnership with VeChain for a while now.
In an official announcement, PwC Hong Kong and PwC Singapore have revealed that, as part of the larger partnership, they have bought an ownership interest in the VeChain Holding.
PwC further adopts blockchain technology
PwC has always been a strong believer of blockchain technology and has recently released a blockchain auditing service for their customers to use. This service allows companies to view, test and monitor blockchain transactions in real time.
This blockchain auditing service is currently being used by a major stock exchange and a major digital wallet provider. PwC declined to identify these two clients.
— Sunny "No-Give-Away-Any-Cryptos" Lu (@sunshinelu24) May 4, 2018
Supply chain, food trust, and anti-counterfeiting
Next, to their blockchain auditing service, PwC will also be using blockchain technology to solve challenges in the supply chain, food trust, and anti-counterfeiting industries.
Raymund Chao, chairman of PwC Asia Pacific and Greater China explained:
“We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust, and anti-counterfeiting areas. VeChain’s mission aligns with PwC’s purpose of solving important problems and building trust in society.”
Next to this Chao emphasized, “that the strategic collaboration with VeChain marks the first real initiative of PwC to extensively utilize blockchain technology to provide innovative professional services.”
The move by PwC to acquire a part of VeChain will certainly aid in VeChain’s growth and expansion in all of Asia. The partnership will allow PwC to offer professional services using VeChain’s blockchain technology to all of its customers.