VeChainâ€™s New Partnership Could Bring Blockchain Tech to Dozens of Untapped Industries
Cyprus is becoming a hotspot for Blockchain technology.
The VeChain Foundation has partnered with the accounting and consulting firm, Grant Thornton Cyprus.
According to an announcement from the company, the partnership hopes to extend blockchain solutions to a variety of industries. These will largely be determined by the Cypriot companyâ€™s network of customers, but may include the food industry, pharmaceuticals, logistics, the automotive industry, supply chain management, renewable energy, e-commerce, and more.
Discussing the companyâ€™s interest in Blockchain development, Grant Thornton Cyprusâ€™ director of distributed technology, Alexis Nicolau, noted that legislation governing blockchain technology in Cyprus â€œis imminent.â€�
Sunny Lu, co-founder and CEO at VeChain, believes that the pandemic has helped to restructure the global economic order. He says that the situation encouraged VeChain to accelerate â€œdigitalization which enhances the need for digital solutionsâ€� in the post-pandemic era.
Recently, the VeChain Foundation announced a blockchain-based food safety solution based on its Blockchain-as-a-Service platform.
The services offered by the platform include traceability templates for origin traceability, cross-border traceability, full-process traceability, and more.
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