Venaco Group and Cheng & Co enters into a memorandum of understanding (MoU) to extend digital enterprise transformation services as well as to harness the potential of blockchain through the adoption of SophiaTX – the blockchain for business – across the region
Kuala Lumpur, 19 April 2018 – Venaco Group, a global enterprise transformation services organisation specialising in SAP and innovative IT technologies, and Cheng & Co, a leading South East Asian accounting and outsourcing services organisation, are pleased to announce their strategic partnership for B2B business and IT projects.
Under the agreement, Venaco Group will collaborate with Cheng & Co to provide strategic business consulting and transformation services to Cheng & Co in order to enhance and expand services provided to its regional clientele. Both parties also mutually agreed to explore blockchain technology further to accelerate business growth and opportunities, through the adoption of SophiaTX, Venaco Group’s blockchain for business solution, which is poised to launch this July 2018.
Leveraging blockchain to reshape business models
DECENT and Venaco Group are proud to announce a new blockchain joint venture, named Equidato Technologies AG, based in Swiss Canton of Aargau.
The two Swiss companies are enthusiastic about the launch of this new venture and welcome the opportunity to work jointly on a very ambitious plan to bring blockchain to businesses of all sizes. The combination of DECENT’s success in launching its proprietary blockchain and Venaco Group’s experience with complex business and SAP technology transformations, provides the right mixture of capabilities for success.
Blockchain technology has been the beating heart of Bitcoin and the world of crypto since it was first released in concert with Bitcoin in 2009. Today, it has been deemed a foundational technology with the potential to create new economic and social frameworks. It is forecasted that 10% of global GDP will be enabled by blockchain by 2027. Such forecasts are edging major companies toward integration, providing a window of opportunity for businesses that offer blockchain services.