— PwC China / Hong Kong (@PwC_China) May 4, 2018
PricewaterhouseCoopers, or PwC is the second largest professional services firm in the world, in the ranks with other firms such as Deloitte, EY and KPMG. With an estimated 230,000 employees and a projected revenue of around $37Billion, it is safe to say that any cryptocurrency integration with such a huge company can mean some big things. Hopefully, that’s what VeChain are about to find.
In a press release by PwC Hong Kong, the company have announced a huge partnership with VeChain with the aim to provide trust-based services on the VeChain blockchain, which in turn will use VeChain tokens to validate and perform transactions. This does look as if PwC are going for the full blockchain package here and aren’t just shying away from the implications of cryptocurrency, they seem to want the lot and VeChain seem to be the perfect group to provide me.
According to PwC Hong Kong, the Chairman of PwC Asia Pacific and Greater China, Raymund Chao has said:
“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.”
“PwC HK is now in discussions with VeChain to provide trust based services on the VeChain platform. This will require the use of VeChain Tokens to access and perform transactions on the platform. ”
Thank you @RaymundChao and rest of PwC executives for your innovation. https://t.co/Us8z8pOrYN
— VeChain Foundation (@vechainofficial) May 4, 2018
This is a really exciting time for VeChain, especially when you consider the proximity of this announcement to the recent announcement of their involvement in MOBI.
Working with PwC specifically, this will greatly increase the amount of activity taking place on the VeChain blockchain. The use of the VeChain token by PwC will also no doubt encourage more buying and may even encourage some investment activity to start taking place.
Of course, PwC will benefit from this integration too. I suspect that at the moment, they are only limiting this integration to Hong Kong and Singapore as a trial roll out and that should the technology prove to be useful and a success, we may very well see VeChain integration with some of PwC’s other branches. Bearing in mind that PwC are indeed an international corporation, therefore there’s a lot of potential here for the word of VeChain so spread internationally.
We should also consider that these types of partnerships will put PwC one step ahead of their rivals and that in order to keep up at the risk of being left behind, rival firms will also need to invest in blockchain technologies. Having such a big player on board will help the blockchain revolution reach new heights and achieve great things. I can’t see it being long now before we see EY, Deloitte and KPMG following in PwC’s footsteps.
You can see the full PwC Hong Kong press release, here- https://www.pwchk.com/en/press-room/press-releases/pr-040518.html#utm_source=twitter&utm_medium=20180504