Why did Deloitte abandon the Ethereum blockchain in favor of VeChain?
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Answer Why did Deloitte abandon the Ethereum blockchain in favor of VeChain?
Sunny Lu, CEO of VeChain, revealed why Deloitte, one of the four largest accounting and auditing firms in the world, has abandoned the Ethereum blockchain in favor of the VeChain blockchain.
Where he made his statement and answer when asked during an interview with a YouTuber, if VeChain is better than Ethereum and will the VeChain blockchain replace Ethereum?
Sunny Lu explained how things went and how Deloitte transformed into the VeChain blockchain, where the director of the Deloitte Blockchain Technical Office and Antonio Senator, a member of the VeChain Advisory Board, met, all of whom were invited to the Shanghai International Week in 2019 to discuss Blockchain technology.
During the event that was rated as one of the largest blockchain conferences in Shanghai, Antonio revealed what VeChain can offer Deloitte, as a presentation on a large screen showed what can be done with the VeChain blockchain.
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During the same event, the director of the blockchain technical office Deloitte decided to migrate the application from Ethereum to VeChain for several different reasons, which were not presented in detail.
He told Sunny Lu he was thrilled when he got a vote of confidence from a company that is one of the top four audit firms.
Besides, he told Sunny that PricewaterhouseCoopers and Deloitte are strong shareholders in VeChain.
Sunny added:
If Deloitte’s global technical director makes this comment… that’s very subjective.
He told Sunny there were many reasons behind the decision Deloitte made at the time.
The same speaker clarified that the foundation is concerned with what people build and not what the technology they build on can provide.
VeChain has received widespread adoption recently, with many companies and organizations across the world relying on the VeChain technology and blockchain.
Recently VeChain launched a Sams Club product tracking solution in China.
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VeChain also struck a deal with one of the world’s largest pharmaceutical companies to provide a drug tracking solution on the blockchain.
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