VeChain News Today – Headlines for August 18

  • VeChain has partnered with accounting and consulting firm Grant Thornton Cyprus
  • The new collaboration will bring Blockchain technology to untapped sectors
  • VET CEO believes the pandemic has restructured the global economic scene

VeChain News Today – reports show that Cyprus is set to become a home ground for Blockchain technology and digital assets. The country is set to announce new laws to implement the technology and allow it to spread across multiple sectors of the economy. No wonder the Blockchain network VeChain has entered into a new partnership.

The VeChain Foundation announced that it has partnered with the accounting and consulting company Grant Thornton Cyprus. Per the report, VeChain’s new partnership will likely bring Blockchain technology to multiple untapped industries in the country. At press time the price of VeChain was down by 2.67% against the USD and 5.98% against Bitcoin. The coin is currently changing hands at $0.019813 with a total market cap of $1,098,705,018. At press time VeChain had a 24-hour trading volume of $234,759,758.

Cyprus Has Become a Hotspot for Blockchain Technology

Cyprus is fast becoming a strong base for Blockchain technology. No wonder VeChain has invested its interests in the region. VeChain’s latest partnership could potentially bring Blockchain technology to the untapped industries in the region. According to an announcement given by the company, the partnership with VeChain hopes to bring Blockchain solutions to a broad range of industries. This will likely be determined by the Cypriot firm’s network of clients. It may also include the food sector, pharmaceuticals, logistics, supply chain management, the automotive industry, renewable energy, and e-commerce to name a few.

Speaking about the firm’s interest in Blockchain development, the director of distributed technology at Grant Thornton Cyprus’ Alexis Nicolau, remarked that legislation governing Blockchain technology “is fast approaching in Cyprus.”

VET CEO Believes the Pandemic has Restructured the Global Economic Scene

Finally, Sunny Lu, the co-founder, and CEO of the VeChain network has remarked that the pandemic has restructured the global economic system. Lu claims that the current situation has encouraged VeChain to accelerate its plans for “digitalization.” Of course, the pandemic has enhanced the need for digital solutions. And it seems it will stay like this in the post-pandemic era.

VeChain has been driving its ambition to provide more digital solutions in recent months. Recently, the VeChain Foundation revealed the launch of a Blockchain-powered food safety solution. This solution is based on VeChain’s Blockchain-as-a-service. The kind of services that are offered by the new platform includes providing cross-border traceability, templates for origin traceability, full-process traceability, and much more.

Princess Ogono is a writer, lawyer and fitness enthusiast. She believes cryptocurrencies are the future. When she's not writing, she spends time with her adorable cat, Ginger and works out often.

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