Cyprus is becoming a hotspot for Blockchain technology.
The VeChain Foundation has partnered with the accounting and consulting firm, Grant Thornton Cyprus.
According to an announcement from the company, the partnership hopes to extend blockchain solutions to a variety of industries. These will largely be determined by the Cypriot company’s network of customers, but may include the food industry, pharmaceuticals, logistics, the automotive industry, supply chain management, renewable energy, e-commerce, and more.
Discussing the company’s interest in Blockchain development, Grant Thornton Cyprus’ director of distributed technology, Alexis Nicolau, noted that legislation governing blockchain technology in Cyprus “is imminent.”
Sunny Lu, co-founder and CEO at VeChain, believes that the pandemic has helped to restructure the global economic order. He says that the situation encouraged VeChain to accelerate “digitalization which enhances the need for digital solutions” in the post-pandemic era.
Recently, the VeChain Foundation announced a blockchain-based food safety solution based on its Blockchain-as-a-Service platform.
The services offered by the platform include traceability templates for origin traceability, cross-border traceability, full-process traceability, and more.
Source: , CoinTelegraph
Articles listed with Cash Tech News as the author are either general information, or may have been imported from another website, to bring our readers a rich media experience that encompasses articles that we find interesting, as well as those curated by others.
The views and opinions expressed here are for informational purposes only, and should not be confused with professional financial advice. These opinions are solely those of the author and do not necessarily reflect the views of CashTechNews.com. Every investment and trade involves risk. You should conduct your own research, and contact your professional financial advisor before making any investment.
Corrections, feedback, and ideas should be submitted through the website contact form.