PriceWaterHouse Coopers, one of America’s biggest banking houses has officially announced its support for the Blockchain Company, VeChain. VeChain a company of the BitSE Company known for their Blockchain applications has already been used for many industrial protection applications. These included protection for pharmaceutical companies and even protecting interests of the wine industries. Based in China, PriceWaterHouse coopers took part in 2 signing ceremonies, one in Singapore to signal the start of the partnership.
The VeChain project has expanded to provide protection for IPs of various industries and even delved into supply chain applications of the Blockchain technology. As discussed previously the transparent nature of the ledger allows for secure and effective tracking of assets. With over 50 engineers specializing in Blockchain technology the company also has the necessary manpower to build applications utilizing the digital technology.
Raymund Chao, PwC Greater China chairman, said: “Embracing advanced technology for growth becomes the top priority for many business sectors. Innovative applications and solutions could improve the effectiveness of supply chain, brand reputation, and even customer experience. We are excited about the joint initiative between PwC and BitSE and the VeChain services we provide that could help our clients achieve greater success. I envisage our services will create an impact and deliver on our firm’s purpose of building trust in society and solve important problems.”
To conclude, the partnership is thought to provide the VeChain project considerable funding for eventual rollout in the Asian region. Being part of the incubation program of PriceWaterHouse, the VeChain initiative will receive considerable funding for expansion as well as considerable connections to a number of clients in various industries. The VeChain initiative will also be appearing at the Consensus 2017 event.