It is common knowledge that in theory, the larger the company or the larger assets a person has, the more complex the process will be and the higher the possibility of detection of errors or fraud during the independent audit assessment process or the internal audit process. Today, technology is developing rapidly, where it is all to meet various basic needs in the business world and make it more efficient than the system used previously. Blockchain is a representation of technological developments that produce a fair, fast and safer system. Then what if an audit process uses Blockchain technology? Well, this time I will explain a project that makes an ecosystem based on Blockchain technology for all of that.
What is Auditchain?
Auditchain is an ecosystem created to make the world's first decentralized audit process for guarantees and also digital assets. Auditchain will use the Guarantee and Disclosure Framework which externally makes it possible to validate the functional compliance of internal systems and control environments as well as reporting financial statements in real time. Decentralized Continuous Auditing & Reporting, or abbreviated as DCARPE, provides users of financial statements as well as analysis of data that has been audited in real-time to the institutions and individuals who use it. This protocol offers subscription packages for analytic auditing and detailed financial statements as well as tools that allow them to make dynamic reports where it is possible to refine existing research reports that can be followed up and provide the potential to mechanize future reviews of steps to be taken and also future risk.
With the Auditchain ecosystem which includes a decentralized blockchain technology protocol and an intelligent open source accounting library that meets the criteria needed to conduct an audit process efficiently and reports the results of company data and performance data that has been continuously audited continuously and in real time . The protocol layer on auditchain that presents before the public to make a report from the audit results makes it possible to produce a report of changes in shareholders' equity reports that have a capacity far exceeding the reliability of the current reporting standards. By implementing the DCARPE it will certainly provide various benefits during the audit process and also by using blockchain technology with additional layers that can be expanded specifically to enable the deployment of decentralized enterprise applications. For more details about this ecosystem, you can read their whitepaper here: https://auditchain.com/Auditchain-Whitepaper.pdf
What is AUDT Token?
AUDT Token is a native token that will be used in ecosystem Decentralized Continuous Auditing & Reporting that allows individuals or institutions to pay for various services that available in their ecosystem, for example paying audit process fees with AUDT Tokens instead of using Fiat. This token is a utility token and will use Ethereum Blockchain Technology (ERC-20) that makes it meet the criteria needed for various audit processes in their ecosystem. You can visit their website if you are interested here: https://auditchain.com
Token Sale & Distribution Details
Token Name: AUDT
Type: Utility
Platform: Ethereum
MVP: YES (HERE)
SoftCap: 200,000 USD
HardCap: 20,000,000 USD
Price: 1 AUDT = 0.2 USD
Country: Switzerland
KYC: YES
Team
Conclusion
The audit process is a very complex process especially for large companies or individuals who have large assets, with the ecosystem of Decentralized Continuous Auditing & Reporting that they develop might provide a solution to make all the processes more simple and efficient. Besides that, by integrating blockchain technology this is a very appropriate step because decentralization makes it all the process more transparent without any manipulation. I am interested to see the progress of this Ecosystem, I hope this project will run smoothly!
I think it's enough for now, Do not forget to follow & upvote, I will give some links related to Auditchain Ecosystem below. Thank you very much!
Website: https://auditchain.com
Facebook: https://www.facebook.com/Auditchain
Twitter: https://twitter.com/Auditchain
Telegram: https://t.me/Auditchain_Community
Bitcointalk: https://bitcointalk.org/index.php?topic=5152521
Whitepaper: https://auditchain.com/Auditchain-Whitepaper.pdf
Authored By Pedobear a.k.a Dhemas putra/dhemasm(bitcointalk)
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=1049524