AsiaNet 85170

SINGAPORE, Aug. 18, 2020 /PRNewswire=KYODO JBN/--

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.

Photo - https://mma.prnewswire.com/media/1229764/VeChain_and_Grant_Thornton.jpg

Logo - https://mma.prnewswire.com/media/738221/VeChain_Logo.jpg

Bridging Trust Using Blockchain Technology

In September 2018, Grant Thornton Cyprus grew its technology services with the

launch of the new blockchain service line (

https://c212.net/c/link/?t=0&l=en&o=2887670-2&h=3906399409&u=https%3A%2F%2Fwww.grantthornton.com.cy%2Fpress%2Fpress-releases-2018%2Fgrant-thornton-cyprus-launches-blockchain-services%2F&a=In+September+2018%2C+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 (

https://c212.net/c/link/?t=0&l=en&o=2887670-2&h=4005676709&u=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fbig-four-giant-pwc-invests-124712048.html%3F&a=PwC

)and DNV GL (

https://c212.net/c/link/?t=0&l=en&o=2887670-2&h=3118885903&u=https%3A%2F%2Fwww.dnvgl.com%2Fnews%2Fdnv-gl-buys-stake-in-leading-public-blockchain-service-provider-vechain-as-it-strengthens-commitment-to-raising-trust-and-transparency-through-digital-solutions-119749%23%3A%7E%3Atext%3DPeter%2520Lovegrove%2C-Media%2520Relations%2520and%26text%3DDNV%2520GL%252C%2520the%2520risk%2520management%2Cdevelop%2520new%2520digital%2520assurance%2520solutions.&a=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(TM), 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/

SOURCE:  VeChain

CONTACT: VeChain - For news inquiries, please contact press@vechain.com; Grant

         Thornton Cyprus - For inquiries, please contact

         alexis.nicolaou@cy.gt.com