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& # 39; Big Four & # 39; giant PwC invests in Chinese start-up Crypto VeChain

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PricewaterhouseCoopers, better known as PwC, has acquired a small stake in VeChain, a crypto- Chinese currency with a stock market valuation of 2.7 billion dollars, May 4.

VeChain x PwC

In an official announcement, PwC Hong Kong and PwC Singapore revealed that as part of a broader strategic partnership, the two PwC subsidiaries acquired a stake in VeChain primarily to use the Internet network of Things (IoT) from VeChain to help big business.

According to the PwC Hong Kong team, the company has begun discussions with the VEN team to provide trust-based services on the VeChain platform. The company's statement noted that VeChain chips, also known as VEN, are needed to access and trade on the VeChain network, implying that PwC has purchased a stake in VEN to actually use VEN in conjunction with large companies. conglomerates and companies. ]

Raymund Chao, President of PwC Asia Pacific and Greater China, said:

"We are pleased to establish a closer relationship with VeChain, which aims to build a reliable and distributed trading ecosystem to help address the longstanding challenges in managing the chain sourcing, food trust and counterfeiting VeChain's mission aligns with PwC's goal of solving important problems and building trust in society. "

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Chao emphasized that strategic collaboration with VeChain marks PwC's first true initiative to make extensive use of blockchain technology to provide innovative professional services.

As one of the world's top four auditors and accounting firms alongside Deloitte, PwC's business model revolves around its professional services. it provides to large companies and organizations.

In March, as CCN reported PwC indicated that the company will begin to offer blockchain auditing services to enable companies to operate. use the blockchain to record transactions and process information in a decentralized manner. At the time, the PwC team did not offer any additional details about the blockchain technology that it intends to use to help large companies.

The formation of a strategic partnership between PwC and VeChain, and the acquisition of participation in PwC's VeChain signify the company's willingness to use protocols and networks public blockchain already widely adopted by the blockchain sector rather than building its own blockchain technology and authorized registry.

Evolution of the VEN

The price of VEN has not changed in the last 24 hours, perhaps due to the partnership between VEN and PwC have been finalized confidentially and only officially released in recent hours.

In recent months, the price of VEN has more than doubled from 2.5 to 5.18 dollars, and the acquisition of VEN by institutional investors and large conglomerates like PwC should raise the price of VEN. ]

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Most importantly, the involvement of PwC in the long-term growth of VEN could lead to extensive use of VEN as a major IoT blockchain protocol and token. Already, VEN is the 15th cryptocurrency on the world market.

Image from Shutterstock to photo

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