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PwC Switzerland takes over blockchain startup ChainSecurity

Bjørn Erik Pedersen [CC BY 3.0 (https://creativecommons.org/licenses/by/3.0)]

Mon, 06 Jan 2020, 12:13 pm UTC

ChainSecurity AG, a blockchain startup spun out of the ICE center, ETH Zurich, a leading research lab in blockchain security, has been acquired by PwC Switzerland, Investment Europe reported.

As part of the acquisition, the team from ChainSecurity will be joining the consulting giant. ChainSecurity said:

“We are thrilled to announce that our team is joining PwC Switzerland! As part of PwC Switzerland, we will stay true to our mission of bringing trust to blockchain projects. We are thankful to all our clients and colleagues for supporting us throughout this journey. We are excited for this new chapter!”

Founded in 2017, ChainSecurity is a provider of products and services for securing smart contracts and blockchain protocols and conducts research and development in the areas of security, program analysis, and machine learning. It is the company behind the smart contract analyzer Securify and the smart contract verifier VerX.

“As part of PwC Switzerland, the ChainSecurity team will focus on accelerating PwC Switzerland's blockchain audits, including technical reviews of smart contracts and blockchain platforms, and risk assurance services for customers who own crypto assets,” said Andreas Eschbach, Partner and Leader Risk Assurance of PwC Switzerland and Europe (via online translation).

Switzerland is one of the leading blockchain hubs in the world and is counted among the crypto-friendly countries. The Swiss government is currently considering amending its regulations to better tackle the evolving crypto and blockchain sector.

In Nov., the Federal Council said that it has “adopted the dispatch on the adaptation of federal law to developments in distributed ledger technology. The proposal has been revised and refined in a number of areas as a result of suggestions received during the consultation process.”

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