VeChain Will Be Hard To Stop When PwC, Deloitte, BMW, And China’s Financial Insurance Giant Are Involved – A Sleeping Giant?

VeChain (VET) is arguably one of the hottest projects in crypto right now in terms of partnerships and potential for future adoption as the blockchain startup is involved with PwC, Deloitte, BMW and China’s Financial Insurance Giant.

As previously reported by IIB, Deloitte recently migrated from Ethereum to VeChain, indicating the Chinese blockchain project now has half of the Big Four on VeChain’s blockchain in addition to partnerships with BMW, Amazon Web Services, Haier, and many many more.

VeChain Partnerships Seeing Progress

In addition to the partnerships mentioned above, VeChain partnered with China’s financial services giant, People’s Insurance Company of China (PICC) back in September 2018.

The partnership is now seeing progress as VeChain successfully migrated Norway’s Registrar Giant, DNV GL’s certificates on to the VeChain blockchain. This is significant because PICC is a partner of DNV GL.

The PICC and VeChain business relationship will digitally transform the insurance industry as the existing system used by PICC produces an overwhelming paper trail and suffers from insufficiencies within data collection, verification, and auditing.

Moreover, the company believes VeChain’s blockchain technology will bring digital transformation in the insurance industry and will help to reduce the turnaround time, improvise KYC [Know Your Customer] compliance, and prevent frauds.

VeChain Enters Business Relationship with PwC

Another recent development regarding VeChain partnerships has to do with one of the Big Four auditings firms.

The Global auditing giant PricewaterhouseCoopers (PwC) has announced a joint business relationship with VeChain by acquiring a small ownership interest in VeChain.

Per the press release, PwC Asia Pacific and Greater China Chairman, Raymund Chao, said:

“We are glad to establish a deeper relationship with VeChain, which aims to build a trusted and distributed business ecosystem to help address long-standing challenges in supply chain management, food trust and anti-counterfeiting areas. VeChain’s mission aligns with PwC’s purpose of solving important problems and building trust in society.”

The press release also states that PwC Hong Kong is collaborating with VeChain to provide trust-based services on the VeChain platform. Adding to this, PwC highlighted that they will need to use VeChain tokens to access and use the platform, which is why they have acquired a small ownership in VeChain.

Final Thoughts

All in all, VeChain is poised to do extremely well in the near future as their many partnerships begin to unfold plans for the use of Vechain’s powerful blockchain technology that specializes in the Internet of Things (IoT), supply chain management, and anti-counterfeiting.

Therefore, is VeChain a sleeping giant that’s about to wake up once businesses actually begin to use blockchain technology? It appears so, based off of the multitude of partnerships and increase in speed towards businesses adopting blockchain technology.

Currently, VeChain is trading around $0.0063 which is up 37% from the beginning of the year. However, VeChain may still have a lot of room to gain as the price action does not appear to have reflected all of the news as of late.

Do you think VeChain is a sleeping giant? Will all of VeChain’s partnerships begin utilizing the Vechain blockchain soon? Let us know what you think in the comment section below.

4 Comments

  • Chris
    Posted May 9, 2019 2:45 pm 0Likes

    I think VeChain is the most undervalued beast in the top 50 of CMC. There is simply no other coin in the top 50 with such valuable partnerships. Bright foods is able to write millions of transactions per day, so is BYD and BMW. The My Story app by DNVGL, same story =)

    It will be a long wait, but when just one of these companies / apps goes to full scale productions this rocket will take off like there is no tomorrow. You will be crying later if you don’t accumulate now when the price is still low. It will not stay this cheap forever =)

    • Erik
      Posted May 9, 2019 4:18 pm 0Likes

      Well, sure, I’m invested in VET as well, but most seem to forget that all big partnerships are getting their VET from the pool the company has. All these great companies and their collab with Vechain doesn’t reflect on the VET price simply because they don’t buy the on the market. And when all is up and running, the VTHO needed for all these registrations on the blockchain will come from their big investors and not our generated VTHO we are accumulating now. I’ll stick to what I have now and hope I’m mistaking and VET skyrockets soon enough. But I think we’ll have to wait more than 5 years to really see things happening. Once, the VET pool owned by the company will dry out and new partnerships will have to buy where we can sell. Untill then, I don’t expect much from VET. I hope I’m wrong or misinformed.

      • Jay
        Posted May 10, 2019 1:07 am 0Likes

        If history is any guide, the actual developments behind the scene don’t matter so much. Newbies will come in and see it’s a dirt cheap coin. They’ll think it can become the next Bitcoin. It’ll pump like mad one day. Every large altcoin always does at one point. Probably within 3 years, because that’s probably when we will see the next bull run’s blow-off top.

        • christopher pokoo aikins
          Posted May 10, 2019 2:03 pm 0Likes

          You are just right…..FOMO will make newbies buy more since it appears cheap.

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.