PwC Swiss Partners With Smart Contract Auditing Firm ChainSecurity

The PwC Swiss branch of the auditing company has just partnered with the smart contract auditing firm ChainSecurity so let’s find out more in the following crypto news.

A PwC spokesperson explained further in an interview with Cointelegraph, saying that no acquisition took place and a lot of teams from the company have joined the firm. According to a press release that was published by the company, PwC Swiss branch hopes that with the team of ChainSecurity, they will become ‘’the world’s leader in smart contract auditing.’’ The head of the company and partner of risk auditing Andreas Eschbach explained:

 “As an integral part of PwC Switzerland, the team of ChainSecurity will focus on accelerating PwC Switzerland blockchain audits, including technical audits of smart contracts and blockchain platforms as well that risk hedging services for customers with crypto assets.”

The manager and leader of PwC Konradin Krieger, explained further that there was no acquisition happening but that the core delivery and development teams from ChainSecurity joined PwC. Krieger explained also that the Chainsecurity COO Matthias Egli and CTO Hubert Ritzdorf will be leading the smart contract assurance team:

 “We expect market demands to increase quickly as blockchain becomes more mainstream and, as demonstrated by bringing in the ChainSecurity team, we are very invested in building up our capabilities around blockchain in a way where we are ahead of the market. We will continue to grow the team to anticipate these needs based on how we see the market developing.”

When he was asked how can ChainSecurity be employed by PwC and help the company, Krieger explained that the customers of the firm need a combination of technical and legal skills that can be provided by only combining the companies:

 “While ChainSecurity previously was only able to offer their technical expertise, in connection with PwC Switzerland they can offer a more useful and more coherent service to their customers. […] PwC’s broad competences around regulatory concerns, ranging from data privacy over compliance to KYC/AML, enable the newly joint team to offer broader and more comprehensive services.”

ChainSecurity collaborated with about 70 blockchain companies and they even discovered a security flaw in an Ethereum update. The discovery resulted in postponing the hard fork and prevented the flaw from being added to the blockchain.