One of the giants in the ‘Big Four’, Pricewaterhouse Coopers aka PWC, has invested and owns a small piece of Chinese startup company VeChain. The startup firm is worth about $2.7 billion. PWC Singapore and PWC Hong Kong came together to announce that as part of a strategic partnership they have made a decision to invest in this startup. VeChain will host PWC with an Internet of Things (IoT) network, so that they can help large-scale firms. PWC Hong Kong has already began working with VeChain so that they can create trustworthy services on their VeChain network. VeChain tokens or VEN will be necessary to gain access and conduct transactions on the VeChain platform. This is a first for PWC and it marks a major attempt for the company to utlize and implement blockchain technology. PWC is one of the worlds biggest auditors and accounting firms, and their business model focuses on its professionalism and the services they provide to large-scale companies.
In March, PWC came out and said that they will be offering blockchain auditing services in the near future. This will help organizations and firms to utilize blockchain to keep a record of their transactions and upkeep information in a decentralized format. VEN has since moved up in the market, in the last day. Over the last few months, VEN’s price has reached a little over double of what it was. It jumped from $2.50 to $5.18, and by PWC acquiring a little piece of VEN, the price is only expected to go up more. VEN is currently ranked at being the 15th largest digital currency on the market.
This content originally posted at: cryptoliticsinc.com/pwc-to-invest-in-crypto-startup-company-vechain
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