PwC Switzerland Gets ChainSecurity as a New Business Partner
Recently, ChainSecurity became a partner of PwC’s branch in Switzerland. The objective of the partnership is to enhance the services offered by PwC. As per PwC’s spokesman, there was no acquisition, but ChainSecurity teams joined the firm. The teams include the core delivery and development teams.
A press release published on the 5th of January 2020 pointed out that PwC hopes to become the leading company in smart contracts auditing through the ChainSecurity team that joined the company.
ChainSecurity Responsibilities in PwC Switzerland
Andreas Eschbach, a PwC official, said the ChainSecurity’s team’s focus is to accelerate the blockchain audits of smart contract and blockchain platforms and risk hedging services for customers with cryptocurrency assets.
Both the COO and CTO of ChainSecurity will lead the company’s Smart Contract. Assurance team of the company together. Konradin Krieger of PwC said the company anticipates a quick increment in market demand as blockchain becomes more mainstream. He added that the company had shown readiness to build its capabilities around blockchain, such that it becomes a leader in the market.
Kreiger also maintained the firm’s readiness to ensure the team’s growth in anticipation of the needs that come with market development. He also said the legal capabilities of PwC Switzerland would combine with the technical capacities of ChainSecurity to meet the needs of the company’s customers.
The official website of ChainSecurity has secured more than $1 billion through its exceptional blockchain projects. A particular press release pointed out that ChainSecurity has partnered with over 75 blockchain firms.
Another report released recently maintained that the team discovered a security vulnerability in an Ethereum update. It led to the postponement of the hard-fork, thereby preventing the vulnerability to the blockchain.
The growth of smart contracts is experiencing wider adoption. Nevertheless, people focus more on such contracts’ security because the exploitation of a flawed smart contract may be tragic. For example, in June 2016, the DAO theft led to the loss of close to $60 million in crypto assets due to smart contract vulnerability.