We will provide Article to present the “ AUDITCHAIN” project to potential platform participants and those who are interested in contributing to its development. The information listed below may not be complete and does not imply any contractual relationship. The main purpose is to provide information to everyone, so that they can determine whether they are willing to analyze the company with the intention of obtaining token or invest.
In simple words, an audit of any company or project is an independent assessment of the state of all their parameters and it should be carried out according to existing and generally accepted standards. They can also be checked how the team copes with its functions, how well the management processes are organized inside. If inconsistencies are identified, the auditor makes recommendations for elimination or improvement.
The audit process takes a lot of time, usually 2–3 weeks and as you know it can affect the workflow and costs a lot of money. Every communication with employees is documented, discussed, problems are identified and ways to solve them. This option is already becoming obsolete and requires a more innovative and rapid approach to finding optimal actions and solutions in real time without distracting many parts of the processes.
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The Auditchain project is a complex and comprehensive project within the financial auditing industry which is not easily understood by outsiders. Below follows a very simplified and “ELI5” (explain like I am 5) explanation. Many questions are answered in the whitepaper, so please read it carefully and multiple times!
Why is this important?
The most obvious reason is to maintain integrity. In 2018 alone, fraud resulted in the theft of over $7 Billion according to the ACFE. You can read the most recent Report to the Nations. However, there is another important reason to change this process. As the world has become more connected and services are available 24/7, the financial state of companies should also be available 24/7 for investors and shareholders. Investors, hedge funds, VCs and fund managers should be able to check the status of their investment in a company or entity at any time, whether the company raised their funds through ICO, IEO or in traditional ways. DIGITAL ASSETS NEED REAL TIME ASSURANCE AND DISCLOSURE! ITS UP TO EXCHANGES TO REQUIRE IT!
And the ideal solution for this area is offered by a project called Auditchain, let’s study it.
Auditchain — this is a decentralized platform that continuously collects reports, information from production, from businesses, checks them and immediately issues verification protocols without intermediaries and third parties who might be interested in falsifying documents. This greatly speeds up the process of getting recommendations to improve performance and vision of the whole picture.
Companies will no longer need to look for independent auditors who may not always be qualified and worry about the results, professionalism and disclosure of confidential information to third parties. All this will be implemented on one platform and will be done with the help of AUDT tokens and checked by a network of certified accountants.
At the head of the auditors is DCARPE Alliance, which provides all the necessary tools and assistance for the implementation of this protocol in businesses. Tokens AUDT will help create a new economy of trust and will help to guarantee and safely disclose information of enterprises and constantly check the activities to quickly identify solutions to those problems that are already beginning to slow down the process.
Token AUDT
AUDITCHAIN NETWORK ACCESS
AUDT Token opens the most powerful and secure set of applications and decentralized network company guarantee and reporting services.
AUDITCHAIN NETWORK SERVICES
AUDT tokens are the base currency and utilities for enterprise application services, guarantee payments and disclosures. AUDT unlocks network services that provide the highest level of transparency to investors and stakeholders with a small portion of traditional audit and reporting costs.
AUDITCHAIN NETWORK INTEROPERABILITY
As a two-layer protocol, Auditchain provides seamless interoperability between private and public blockchain that enables strong utility and atomic settlement of trade payables.
AUDT FEES
AUDT fees for companies can be reduced to zero through subscription revenue sharing and company participation in a guaranteed ecosystem without decentralized trust.
GUARANTEE OF PREMIUM STAKEHOLDER
AUDT allows stakeholders to open and view detailed company audit analysis and detailed financial performance that provides the highest level of transparency of the company’s system and controls statistics to real-time financial performance.
METRIC TOKEN
Heart: AUDT
Token type: ERC20
Price of personal-sales / pre-sale tokens: /0.1USD
Receive: ETH
Sales-personal / pre-sales bonus: no info / 30
Prototype: NO
Minimum pre / private hat sales:
Price of bulk sales tokens: 0.15 USD
ALLOCATION OF TOKEN
1. Early Contributors and Adopters: 6%
2. Token Sale: 40%
3. Air Drop: 18%
4. Advisors: 10.3%
5. Team: 10.3%
6. Partnerships: 10.3%
7. Bounties: 5%
Proposed Roadmap
2 ND QUARTER — 2019
Launching
MVP & Token Generation Event
QUARTER 4: 2019
Node Testing
2 ND QUARTER — 2020
Launch of MainNet
3 RD QUARTER — 2019
Auditchain TestNet
1 ST QUARTER — 2020
DCARPE ™ Explorer
xBRL ™ Analytics
3 RD QUARTER — 2020
Commercial Launch
Conclusion
The current market for accounting and audit infrastructure software is dominated by large scale enterprise resource planning systems. The majority of solutions are usually cost prohibitive for most small and medium sized enterprises.
The individual enterprise user cost to install and use the DCARPE™ Network protocol software may prove be substantially less expensive as the result of the decentralized cooperative cost structure of all services provided by the Auditchain network. Additionally, the fexibility and scale of the DCARPE™ architecture may theoretically accommodate any size enterprise user
Depending on the number of Non-Federated nodes deployed by the enterprise, mining for AUDT may theoretically offset the entire cost of the accounting, audit, compliance and reporting obligations of the enterprise.
Financial markets will beneft through the reliability of immutability, real-time assurance, real-time presentation of fnancial performance and insights into enterprise, development and network performance on a dynamic basis in a manner not previously possible.
Auditchain represents a substantial evolution towards new accounting, audit and reporting methods. Furthermore, early adopters may enjoy a competitive advantage through cost savings and capital attraction as the result of its implementation.
For More Information You Can Visit Link Below :
WEBSITE: https://auditchain.com/
TELEGRAM CHAT: https://t.me/Auditchain_Community
BITCOINTALK THREAD: https://bitcointalk.org/index.php?topic=5152521.0
FACEBOOK ACCOUNT: https://www.facebook.com/auditchain/
TWITTER URL: https://twitter.com/auditchain
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