Grant Thornton Cyprus, one of the top accounting practices in the country has recently announced a partnership with VeChain. Through VeChain’s enterprise friendly public blockchain, Grant Thornton Cyprus plans to leverage blockchain solutions for its global client base in sectors such as food, pharmaceutical, logistics, automative, and many others. 

VeChain & Grant Thornton Cyprus 

Grant Thornton Cyprus represents one of the top accounting practices in the country. The company became a Grant Thornton member firm in the early 80s. According to a recent announcement, Grant Thornton Cyprus has partnered with VeChain in a push to apply blockchain technology to some of the largest sectors in the world. Grant Thornton Cyprus introduced its “Distributed Ledger Technology Department” in 2018, which provides its clients with advisory services in new technologies like Blockchain. The technical team behind VeChains public blockchain will work directly with the specialized team at Grant Thornton Cyprus to build out blockchain services for clients globally.

Blockchain Use Cases 

Grant Thornton Cyprus believes that many sectors will benefit from blockchain technology in the near future. Some of these include supply chain management, renewable energy, e-commerce, entertainment, health, finance, and others. Paired with Grant Thornton’s technology service line, VeChain will help the company build a future where their global client base can positively benefit from blockchain solutions.

Alexis Nicolaou, Grant Thornton Cyprus Director of Distributed Ledger Tech said:

“As the coming of legislation governing Blockchain Technology in Cyprus is imminent, Grant Thornton Cyprus is investing in partnerships with leading businesses in the industry, so as to be able to meet the needs of its client base and other local and foreign companies. The extensive range of applications that VeChain ToolChainTM offers, will help us in meeting those needs in the most effective and efficient manner”.

Sunny Lu, Co-Founder & CEO at VeChain also stated that:

“The pandemic has been an imminent restructuring of the global economic order, which emphasizes the urgency of accelerating digitalization which enhances the need for digital solutions in the post-pandemic. We are dedicated to exploring more business scenarios with our partner Grant Thornton Blockchain Cyprus and are excited with what’s to come as a result of this partnership.”

VeChain ToolChain™

VeChain has been one of the few blockchain companies that is scaling blockchain technology into everyday business. Aside from Grant Thornton, VeChain has also obtained strategic partners like PwC and DNV GL to drive adoption and awareness in its “one-stop data BaaS platform,” VeChain ToolChain™.

For years, many businesses have attempted to implement blockchain technology, but many obstacles have surfaced. Most of these companies have run into issues when trying to build their own proprietary blockchains from scratch. VeChain ToolChain™ has introduced blockchain applications that are ready to use in the form of a one-stop data BaaS platform. The platform offers various services such as product lifecycle management, supply chain process control, data deposit, data certification, and process certification. ToolChain™ can be used by small and large companies to build their brand through enhanced transparency. The secure and reliable platform is built to service the most demanding enterprise requirements, while offering a “low-code/no-code” blockchain solution.

Image Source: PRNewsfoto/VeChain

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