- PricewaterhouseCoopers (PwC) announced the partnership.
- Following the announcement, VeChain (VET) went up by more than 32% in an instant.
Accounting and auditing company PricewaterhouseCoopers (PwC), announced that Walmart will be partnering up with VeChain. The announcement was made by Tom Foth, the Senior Director of Emerging Technology Labs at PwC. Following the announcement, VeChain (VET) went up by more than 32% in an instant.
The main aim of the partnership is to improve Walmart’s food safety tracking in China. VeChain will be providing the blockchain technology required to boost the tracking. This is great for VeChain adoption as Walmarket is one of the largest corporations in the world, with more than 2.2 million employees and over 11,000 stores worldwide.
The users will be able to see how VeChain and Walmart interact with each other and track the food delivered in China. The users can access a website which contains the information of the product, the producer, the storage condition, place of origin, etc. Anyone can check the status of the entire order by using the Blockchain ID.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.