SINGAPORE, Aug. 18, 2020 /PRNewswire/ -- Grant Thornton Cyprus, one of the world's largest professional services network of independent accounting and consulting member firms, is partnering with the world-leading enterprise friendly public blockchain VeChain.

This partnership aims to pair and utilize VeChain's advanced blockchain solutions for various industries among the network of Grant Thornton clients. The prospective clients would be heavyweights of their respective industries, which spans across food, pharmaceutical, logistics and automotive sectors, among others.

Bridging Trust Using Blockchain Technology

In September 2018, Grant Thornton Cyprus grew its technology services with the launch of the new blockchain service line. This blockchain department was initiated in collaboration with Grant Thornton's global network, with presence in over 135 countries.

The specialized department will be collaborating with VeChain's technical and industrial experts to deliver and implement blockchain related services for Grant Thornton's clients, both locally as well as foreign.

The establishment of a dedicated blockchain service department proves that Grant Thornton Cyprus has the vision and foresight to recognize the potential of blockchain technology enabling the usage and exchange of trustworthy immutable data in the business world.

Sectors such as supply chain management, renewable energy, e-commerce, entertainment, health, finance and much more will be positively affected with the adoption of blockchain. With this partnership, VeChain's industry-leading blockchain technology will assist Grant Thornton Cyprus to provide the best solutions that their clients can rely on.

Partnership Opens Door To Thousands of Companies To Adopt Blockchain

With strong in-house development capabilities coupled with professional guidance from strategic partners such as PwC and DNV GL, VeChain has established partnerships with many leading enterprises across various industries and continued the continuous improvement and adoption of its one-stop data BaaS platform, VeChain ToolChain^TM.

Sunny Lu, Co-Founder and CEO at VeChain, says, "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."

Developed using VeChain's extensive experience in the deployment of blockchain technology in real business scenarios, VeChain ToolChain^TM has become the market's business-ready standard tool for blockchain integration and adoption. VeChain ToolChain^TM's robust infrastructure will provide Grant Thornton Blockchain Cyprus with stable, secure, and efficient support.

Combining Grant Thornton's professional consultancy and VeChain's market-leading blockchain technology, the partnership will open the doors to thousands of companies that are interested in exploring a whole new world of opportunities through the implementation of this technology.

Alexis Nicolaou, Grant Thornton Cyprus's Director of Distributed Ledger Technology says: "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 ToolChain^TM offers, will help us in meeting those needs in the most effective and efficient manner".

About VeChain

As a leading enterprise friendly public blockchain platform, VeChain began in 2015 and aims to connect blockchain technology to the real world by providing enterprises with blockchain solutions suitable for their business needs and to build a trust-free and distributed business ecosystem platform for business value. With VeChain ToolChain™, a one-stop data BaaS platform, VeChain will continue to promote the large-scale application of blockchain technology, help enterprise clients in digitalization transformation, and eventually realize the long-term vision of enabling the real economy.

VeChain is the pioneer of real-world business applications, with international operations in Singapore, Luxembourg, Tokyo, Shanghai, Beijing, Paris, America, Italy and San Francisco. With strong independent development capabilities, and the professional compliance guidance of our strategic partners, PwC (one of the world's top four accounting firms) and DNV GL (a leading global assessment and certification society), VeChain has established partnerships with many leading enterprises in various industries, including Walmart China, Bayer China, BMW, BYD Auto, PICC, H&M, ENN, Shanghai Gas, LVMH, D.I.G, ASI etc. For more information, please visit the official website www.vechain.com

About Grant Thornton Cyprus

Grant Thornton Cyprus is one of the oldest accounting practices on the island. Founded in 1942, the firm became a member firm within Grant Thornton International in 1982. It offers a full range of assurance, tax, specialist advisory and business support services to clients ranging from public companies and multinationals to government agencies and private businesses across a broad spectrum of industries. As a member firm within Grant Thornton International, we are able to combine the knowledge and experience of our local marketplace with the technologies, methodologies and specialist resources of a professional services organisation at the forefront of the global accounting profession

In September 2018, Grant Thornton (Cyprus) Limited grew its technology services with the launch of a new service line. The distributed ledger technology department (or blockchain) has been providing advisory services related to the implementation of DLT technologies for local and foreign businesses.

In collaboration with Grant Thornton's global network, with presence in over 135 countries, which has invested heavily in this field, the team will offer integrated solutions including feasibility reports, proof of concept, technical design, architecture, development and implementation of distributed ledger technology. For more information, visit the official website https://www.grantthornton.com.cy/services/distributed-ledger-technologies/

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