PricewaterhouseCoopers (PwC) is one of the largest international companies, offering professional services in consulting and auditing, entered into an agreement with the blockchain startup VeChain for use blockchain platform. The agreement was signed between PwC Hong Kong and PwC Singapore.
PwC decided to go on the blockchain market and acquired a minority stake in blockchain platform VeChain:
PwC Hong Kong and PwC Singapore are pleased to announce that they have partnered with VeChain Global Technology Holding Limited (“VeChain”), a blockchain platform specializing in the Internet of things (“IoT”), management, logistics and anti-counterfeiting. Each of the offices: PwC Hong Kong and PwC Singapore acquired a small stake in VeChain.
VeChain will provide verification services without their own platform, which requires the use of tokens VeChain. VeChain is currently on the 16th place in the list of altcoins with a market capitalization in the amount of 2.55 billion dollars. The price for a token VeChain equivalent to approximately 5 US dollars. Announcing the partnership, however, almost no impact on the market value of the tokens.
Raymond Chow, the Chairman of PwC Asia and China, commented on this partnership:
We are pleased to establish a deeper relationship with VeChain, whose goal is the creation of robust and distributed a business ecosystem to help solve long-standing problems in logistics, management of food and anti-counterfeiting. Mission VeChain consistent with the goal of PwC’s solution of important problems and increase the level of trust in society.
PwC is part of the so-called big four companies providing audit and consulting services. Currently, PwC employs more than 47.000 people in Asia.