Auditchain is the first Decentralized Continuous Audit & Financial Reporting Protocol Ecosystem

Auditchain is the world's first Decentralized Continuous Audit & Financial Reporting Protocol Ecosystem for digital asset assurance and disclosure. The DCARPE Assurance and Disclosure Framework is a network of CPAs and Chartered Accountants who externally validate functional compliance of internal system and control environments as well as real time financial statement reporting.

The DCARPE Explorer provides real time financial statement and audit analytics data to institutions and individuals. The DCARPE Explorer will offer subscriptions to audit analytics and financial detail, as well as tools that allow users to build dynamically updating actionable research reports that ultimately have the potential to mechanize the foresight of oncoming risk and transform sell-side and buy-side research.

Features

AuditChain platform will incorporate an open source portal for smart contracts to enable the capture, process, report, and auditing of business and performance data through a continuous independent auditing standard.

AuditChain provides the presentation of balance sheet, income statement, cash flow and statement of changes in stockholders’ equity reports in real time, or “every block”.

AUDT fees are deducted from the collateral stake in connection with the expansion deployment and paid to validating nodes.

Auditchain will include an implementation of an XBRL layer for enterprise internal reporting and compliance and as a tool for research and analytics. The implementation will allow researchers and stakeholders the added benefit of configuring financial statement data in a manner that allows the automated production of proprietary and thesis based reports.

Staking Incentives and Rewards

All external validators and service providers such as software providers are required to purchase and stake AUDT. Enterprises stake AUDT to pay for services and assurance. Software providers that provide accounting and human resource software must stake AUDT. They get paid AUDT for providing the software to enterprise users. Auditors must also stake AUDT. They also get paid AUDT for providing attestations on each data block. They also get charged for not providing assurance when it is appropriate. This promotes and enforces a healthy gamified environment.

Auditchain is secured through Proof of Stake (PoS) consensus mechanism. 85% of the rewards are distributed to the external validators and 15% is distributed to Auditchain and DCARPE Alliance, its affiliate for development of the network and education.

Please refer to the whitepaper for more technical details regarding “Network and Consensus Governance”

DCARPE Alliance

The DCARPE™ Alliance is a global coalition of members of the accounting, audit, financial reporting, legal, blockchain, investment and regulatory community, (the “Alliance”). The purpose of the Alliance is to provide education, drive technology innovation and open source engineering, and promote the adoption of continuous audit and real time financial reporting using the DCARPE™ Assurance and Disclosure Protocol.

Auditchain is the founding member of the Alliance and is leading the development of DCAPRE with other members of the Alliance in the technical category. The DCARPE Assurance and Disclosure Protocol is the world’s first decentralized continuous audit and financial reporting protocol ecosystem for digital asset assurance and disclosure.

The Alliance is segmented in four categories;

•   Financial Reporting & Assurance – CPAs, Chartered Accountants Individual and Corporate Experts in Active Practice
•   Technical – Developers and Third-Party Software Providers
•   Legal and Regulatory - Law Firms, Regulators, Academics
•   Gatekeepers – Digital Asset Exchanges, Securitization and Tokenization Platforms

Members in the assurance and financial reporting category of the Alliance will act as service providers in the DCARPE ecosystem. The Alliance members include Certified Public Accountants and Chartered Accountants who are system and organizational control auditors as well as financial statement auditors. They will operate external validating (“audit”) nodes on the network. This is the Assurance and Reporting category.

Members in the technical category of the Alliance are developers, enterprise software, technology and systems integration will act as service providers by adapting and integrating instances of their software into DCARPE for consumption and utilization by enterprises. This is the technical membership category.

Members from the legal, regulatory and academic community provide thought leadership on the benefits of continuous assurance and real time financial disclosure as well as how it can shape the evolution of existing legislature. This category represents the thought leadership category.

Members who provide digital asset origination, distribution, listing and trading services are the gatekeepers. They are tokenization and securitization platforms as well as digital asset exchanges.

There are currently 50 members of the DCARPE™ Alliance. The contributing members are companies who are global leaders in providing financial reporting software products and related services, XBRL software, accounting software APIs, Blockchain, artificial intelligence and machine learning software and consulting services.

The remaining members are CPAs, Chartered Accountants and academic thought leaders in accounting, audit and financial reporting.

Why Auditchian Adoption?

Digital Assets Need Real Time Transparency. It’s Up to Exchanges to Require It. Unless digital asset exchanges begin to demonstrate improvements in listing standards, risk controls and transparency, regulatory compliance and mass adoption will be extremely difficult.

Traditional exchanges such as Deutsche Borse, NYSE, NASDAQ and SIX have strict listing standards that require all assets to submit to audit and review. Every traditional exchange also submits to audit and review. Failure to report financial results on time is cause for regulatory enforcement action and “delisting”.

We believe that digital asset exchanges have another chance to remain innovative and set an example for the global financial system by creating a new listing category reserved for digital asset listings and IEOs that agree to provide real time financial transparency subject to continuous external validation assurance by adopting DCARPE.

Auditchain is partnering with digital asset exchanges who will act as early adopters to integrate DCARPE via API into their digital asset exchange listing and launchpad platforms. It’s a strategic move by digital asset exchanges to collaborate and demonstrate innovation and advancements in disclosure and transparency. It is also the key to avoid being shut down by governments and regulators for failing to protect investors and otherwise failing to promote and enforce, market integrity and full and fair disclosure.

Token details

Token: AUDT
Type: Utility
IEO: launchpad Exmarkets, Launchpad
PreICO Price: 1 AUDT = 0.10 USD
Price: 1 AUDT = 0.2 USD
Platform: Ethereum
Accepting: BTC, ETH, USDC, EUR
Minimum investment: 100 USD
Soft cap: 200,000 USD
Hard cap: 20,000,000 USD
Raised: $2,000,000
Country: Switzerland
Whitelist/KYC: KYC
Restricted areas: United States of America, Afghanistan, Cuba, Iran, Iraq, Libya, N. Korea, Syria, Myanmar, Haiti, Liberia, Rwanda, Somalia, Sudan, or the Democratic Republic of the Congo

Token distribution: 
40% - token sale
18% - air drop
10,4% - advisors
10,3% - team
10,3% - partnerships
6% - early contributors and adopters
5% - bounties

The Team

Roadmap

More Informations

Website: https://auditchain.com/
ANN: https://bitcointalk.org/index.php?topic=5152521.0
Telegram: https://t.me/Auditchain_Community
Facebook: https://www.facebook.com/auditchain/
Twitter: https://twitter.com/auditchain


Author: Oteemit
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=2626538

Posted by : Oteemit tháng 7 25, 2019

Subscribe by Email

Follow Updates Articles from This Blog via Email