AUDITCHAIN : THE BEST WAY OF AUDITING AND REPORTING

INTRODUCTION

For so many organizations, processing data is a very difficult especially for financiaI institutions that are more involved with so much data as they operate. This pose a difficulty to them so much that all they had to settle for is to depend on highly complex structures to achieve the processing of any data or whatsoever they will have the data used for. This is what puts the service organization control into offering this services because that is the only way they could access great financial auditors to make that process possible. The standard of what is being offered is an indication that there is a need fot a better step to be taken to address the issue with a unique solution. This is why Auditchain came into existence.

THE SCOPE OF AUDITCHAIN

This platform consists of special smartcontracts and blockchain protocols for users to enjoy audit, data reporting and processing services. This helps to improve users performance and also improve the standard of their operations. This is a perfect approach to control standards of many enterprises and make them able to perform perfectly independently without loosing their balance in the industry. It has a public based layer for presentation that will serve users in real time irrespective of their blocks. It settles their balance sheet, how they have cash flows and other income statement to boost their capacities. The functions of this platform is more capable of providing the users with a better standard.

With the DCARPE™ a leverage is seen to be used by the members. This is what makes the self auditing service possible. The users have higher layer of extensibility in the perfectly decentralised network. Moreover, all stakeholders can use this feature to handle their financiaI operations, network statistics to be reported on every block.

THE MAIN SOLUTIONS OF AUDITCHAIN

It is the sole aim of this innovation to provide automated audit with perfect decentralisation to all companies at the right time to help foster their operations whether they are government agencies or not. This also applies to the non profit organizations that would apply Auditchain. The specialised audit nodes in this system would be run by many expert auditors in the system and all the financiaI records or statement data of companies which would be recorded on the network. In this same way, the data that are stored on the network are verified and validated by the ethereum or BTC to be certain about their trustworthiness. The Auditchain DCARPE™ explorer handles the third party involvement as the data is being accessed on its very developed interface that will be used for auditing and other financiaI statement reporting functions. With this solution, auditors will be unable to provide a biased view oc the company they work on through their nodes because professionals will be involved this time around. Data alterations can be avoided with the solution such that companies becomes adapted to this new system that acts in realtime.

AUDITCHAIN AUDT TOKEN

This token serves this decentralised network by providing a vast network where all other applications can be used. It makes the reporting suitable and give assurance to all the companies in it. However, this currency unlocks all the services of the platform, thus bringing about higher transparency in the services to users.

AUDITCHAIN FEATURES

✓ users can easily operates on both the public and private chain thus having higher interoperability that makes the system more robust and seamless in operation.

✓ the fees for the services provided will no longer be important. Auditchain will maintain its position as a zero fee platform with no need for subscription.

More benefits to stakeholders of this platform is that they are able to unlock and use the audit analytics will full transparency to control the financiaI performance of the participants. The major way the token is used is in staking of which all the stakeholders participate in. When staking is done, the cost of services are prevented and that brings about uninterrupted services that is fair enough for all the parties involved. Also, it brings incentives to users and make them able to use a balanced AUDT monetary services.

Not just the companies involved will be able to use the token, the other subscribers of the DCARPE ™ explorer will also get involved in token use and become digital asset holders as well. As they do this, the third parties involved in the explorer will make necessary updates and research on the digital assets on which reports would be made.

CONCLUSION

The functionality of the platform rest in the use of the native token AUDT which is set to drive the decentralised world for all the users such that errors can be easily detected and fixed in every enterprises that adopts this platform for them to keep on improving.

USEFUL LINKS
Website: https://auditchain.com/
Whitepaper: https://auditchain.com/Auditchain-Whitepaper.pdf
ANN Thread: https://bitcointalk.org/index.php?topic=5152521.0
Telegram: https://t.me/Auditchain_Community
Twitter: https://twitter.com/auditchain
Facebook: https://www.facebook.com/auditchain/
Youtube: https://www.youtube.com/channel/UC7NlWkYBlsPRZ26e8e2-yKw

AUTHOR'S DETAILS
Bitcointalk Username: Waltermeks
Bitcointalk Profile Link: https://bitcointalk.org/index.php?action=profile;u=2576323