The VeChain Foundation has formed a partnership with Grant Thornton Cyprus, an accounting and consulting firm, with the goal of extending blockchain solutions to various industries. The specific industries to benefit from this partnership will be determined by Grant Thornton Cyprus’s network of clients, but potential areas of focus include the food industry, pharmaceuticals, logistics, automotive, supply chain management, renewable energy, e-commerce, and more.
Alexis Nicolau, the Director of Distributed Technology at Grant Thornton Cyprus, highlighted that legislation related to blockchain technology in Cyprus is on the horizon, indicating the country’s growing interest in blockchain development.
Sunny Lu, the co-founder and CEO of VeChain, noted that the global economic landscape has undergone significant restructuring due to the pandemic, prompting an acceleration of digitalization. This acceleration has increased the demand for digital solutions in the post-pandemic era.
VeChain has recently introduced a blockchain-based food safety solution on its blockchain-as-a-service platform. The platform offers various templates for traceability, including origin traceability, cross-border traceability, and full-process traceability, among others. This initiative aims to enhance transparency and safety within the food supply chain.