AUDITCHAIN – Real Time Assurance One Block At a Time
Hello, crypto and the beloved blockchain Today I will explain the Auditchain Blockchain, see well, take a little time.
The prevalence of cryptocurrency makes us think about ways and progress that guarantee their openness to ordinary people. While the markets for cryptocurrency are in an uproar, the industry continues to build and continue with exciting new developments. Organize Auditchain leads the development of the world’s first decentralized, ongoing audit and real-time protocol for financial reporting protocols for the security and disclosure of digital assets and companies. Purpose of Oir to enable continuous external validation of enterprise systems and operating systems, financial data and control environments for disclosure by a network of CPAs and chartered accountants. The DCARPE Alliance is a consortium for financial reporting, audit and financial reporting, consisting of CPAs, chartered accountants, suppliers of business software and developers who make resources available for the development and application of the DCARPE Assurance and Disclosure Protocol. And we believe that organizing Auditchain can reinforce this with a straight and reliable framework.
The self-check status of a distributed ledger and the validation of transactions took place for the first time on January 4, 2009 with the launch of the Bitcoin blockchain genesis block. Continuous audit evolves in theory and practice. Practice is mainly limited to internal reporting controls. The application of legal accounting to transactions and reporting system risks occurring in most business processes is now theoretically possible within and subject to a decentralized continuous audit environment in accordance with SSAE 18 and IASE 3402 standards through the use of a configurable “Ricardian” type of smart contracts . Such contracts, as proposed in this document, do not have custody of the value,
Auditchain proposes to embody an ecosystem that includes a blockchain protocol and an open source library of smart accounting contracts that are sufficient to continuously capture, process, audit and report company data and performance data under a continuous, independent audit that exceeds the current accounting control. and auditing standards. A public facing and / or permission based presentation layer proposes to render in real time at the end of each block; balance sheet, profit and loss account, cash flow and statement of changes in shareholders’ equity, which has the capacity to far exceed the reliability of existing reporting standards.
DCARPE ™ implementation uses the self-monitoring state of a blockchain with these additional layers of high extensibility, specifically for the development and implementation of decentralized business applications designed to provide stakeholders with real-time presentation of financial, operational, development and network statistics that each block report.
The solution – Auditchain
Auditchain develops a digitally automated and decentralized real-time audit of companies, non-profit organizations and governments. Auditchain is a blockchain where professional certified auditors can perform specialized audit nodes. The financial data of the company is recorded almost real-time on the Auditchain network. The external auditors then act in the same way as the external validators of the Bitcoin or Ethereum block chains and externally validate the data for integrity and veracity. These assessments can then be opened in real time by third parties via Auditchain’s DCARPETM Explorer. The DCARPE Explorer is a block explorer and an interface for business control and reporting.
This resolves the two shortcomings in the current control method:
- the certified professional auditors who run the nodes are not directly connected to the company they are auditing, and offer an unbiased view.
- the company must adapt its systems and provide real-time data from its internal systems, eliminating the time lag in which they can change data.
– AUDITCHAIN NETWORK ACCESS:
The AUDT token unlocks a range of applications and the most robust and secure decentralized network of corporate insurance and reporting services.
AUDITCHAIN NETWORK SERVICES:
The AUDT token is the base currency and utility for service, assurance, and disclosure payments for business applications. AUDT unlocks network services that offer investors the highest level of transparency at a fraction of the cost of traditional audit and reporting.
-INTEROPERABILITY AUDITCHAIN NETWORK:
As a layer two protocol, Auditchain offers seamless interoperability between private and public block chains , enabling robust utility and atomic settlement of trade debts.
AUDT rates for companies can be reduced to zero by sharing subscription revenues and participating in the decentralized trustless assurance ecosystem.
– PREMIUM STAKEHOLDER ASSURANCE:
With AUDT, stakeholders can unlock and view business analytics audit and financial performance details that offer the highest levels of transparency, from system and control statistics for companies to real-time financial performance.
AUDT Token Economics
The AUDT token is consumed by deportation by companies, CPAs, Chartered Accountants, suppliers of business software and other service providers. Releasing promotes the incentive to provide uninterrupted services and reduce the cost of services on the network, as well as to enforce a fair and balanced amplified AUDT Token money system. AUDT is also deployed and consumed by DCARPE Explorer subscribers who subscribe to a variety of access to detailed financial information about digital assets and companies and audit analysis data. In addition, third-party subscriptions via the DCARPE Explorer will enable the creation of dynamic updating of useful research reports on selected digital assets.
The AUDT token functionality drives the new decentralized business world. It is the driver for the security of the modern enterprise, from initial certification, early detection and recovery to real-time financial and audit analysis with the highest levels of integrity through consensus-based external business validation.
- ONLY 1,000,000 AUD WILL BE SOLD!
- The AUDT Token sale starts on June 14 and ends on June 24.
- Price: $ 0.20 USD
- Tokens for sale: 1,000,000
- Blockchain: Ethereum: (ERC20)
- Currency pairs: BTC, ETH, USDC, EUR
- Mandatory KYC
Limited countries: United States of America, Afghanistan, Cuba, Iran, Iraq, Libya, North Korea, Syria, Myanmar, China, Haiti, Liberia, Rwanda, Somalia, Sudan or the Democratic Republic of Congo.
Token Generation Event and Token Metrics
Auditchain will conduct a token generation event (“TGE”) totaling AUD 250,000,000, which will initially be introduced on the Ethereum network through the deployment of an ERC20 smart contract. The TGE date has not yet been set but will be announced shortly. A private sale is currently in progress and starts at 25 ETH. Registration for private sales can be done here: https://auditchain.com/privatesale/
- 160,000,000 AUDT ** is sold to early adopters,
- 25,833,333 are assigned to the team [lock-up period]
- up to 25,833,333 are assigned to advisors [lock-up period]
- a maximum of 25,833,333 are allocated in connection with partnerships
- a maximum of 12,500,000 will be allocated in connection with our premium campaign
Includes a total of AUD 60,850,000 to be distributed in connection with the Airdrop and to early adopters in connection with private sales.
- Early contributors and adopters: 6%
- Token sale: 40%
- Air drop: 18%
- Advisors: 10.3%
- Team: 10.3%
- Partnerships: 10.3%
- Premiums: 5%
In addition to the initial AUDT token provision and subject to block times, consensus proposals and improvements, approximately 12,500,000 additional AUDT tokens will be rewarded for all federated and non-federated nodes per year, representing approximately 237 AUDT tokens per block, depending on block times.
For token sales, code repository integration, and network integration, it allows real-time reporting of development statistics and network statistics for continuous performance reporting and disclosure for token sales and token tools, respectively.
The public presale starts on November 15, 2018 at 9AM CET, (UTC + 1)
Auditchain plans to make four Airdrops contributions to a total of AUD 42,685,499,996 after the TGE. A first impression of all AUDT balances in all Ethereum portfolios is taken from the last block validated 60 days after the TGE, with the first Airdrop 60 days after the first impression. Subsequent impressions and Airdrops take place 90 days after the previous cycle. Final calculations and block height displays are announced prior to each event.
An open source library with smart contracts is being developed with the implementation of a large number of GAAP, IFRS and Government Accounting and Audit standards “GAAS” trade treatment protocol and legal tax treatment for all transactions with companies. In earlier phases and companies funded by companies, a high percentage of accounting resources are spent on equity compensation and convertible instruments. Priority will be given to the development of a sample of FAS 123R processing contracts in relation to share-based compensation plans. In addition, convertible debt settlement agreements under FASB ASC will also be considered a priority for development. read more in white paper
Jason Meyers, founder of Auditchain, makes a stunning comparison between traditional assurance and financial reporting and the DCARPE methodology using the following analogy; “Conditional external validation by a single node in a single state channel takes place once every 90 days for traditional companies with block confirmations through the same node that take place only once a year. In the world of Auditchain digital asset monitoring, companies are subject to as many times as every minute external validation by a network of assurance providers (nodes) “
MVP and Roadmap
Auditchain publishes its own Streaming Financial Statements ™ via the DCARPETM Explorer during and after the TGE on the Ethereum network. Stakeholders can purchase subscription levels for financial data such as real-time polls for financial statement line items. In short, we will present our MVP during our TGE event, so that all contributors can see how Auditchain works in real time.
Driving with the new Trustless Assurance Economy
The AUDT Token functionality drives the new world of decentralized insurance and disclosure. It is the driver for transparency of the modern enterprise, from initial certification, early detection and recovery to real-time financial reporting with the highest levels of assurance through decentralized external business validation. Do you want to take a ride?
More info about AUDITCHAIN:
Bitcointalk profile https://bitcointalk.org/index.php?topic=5151587.0
Telegram announcement: https://t.me/AuditChain
- Forbes – The biggest thing happening in Blockchain since bitcoin https://www.forbes.com/sites/ginaclarke/2018/07/31/the-biggest-thing-to-happen-in-blockchain-since-bitcoin/#10da5d0a3b2b
- Fintech.finance – AuditchainTM plans Launch of Blockchain-based Assurance and Financial Reporting Platform https://www.fintech.finance/01-news/auditchaintm-plans-lunch-of-blockchain-based-assurance-and-financial-reporting–platform/
- Accountancy Daily – Blockchain startup wants to revolutionize auditing https://www.accountancydaily.co/blockchain-startup-aims-revolutionise-auditing
- Coindesk – XBRL Reporting Standard co-founder joins Blockchain start-up https://www.coindesk.com/xbrl-reporting-standard-co-founder-joins-blockchain-startup
- PRnewswire – Auditchain appoints Chris Fournes as deputy technology officer for four employees as new CEO. http://www.prnewswire.com/news-releases/auditchain-appoints-big-four-assurance-deputy-technology-officer-chris-danusiar-as-new-ceo-300709118.html
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