What is AuditChain?

Auditchain leads the development of the world’s first decentralized sustainable audit and ecosystem of real time financial reporting protocols for digital assets and company guarantees and disclosures. Auditchian enables continuous external validation of company systems and controls, financial data and disclosure control environments by the CPA and Chartered Accountants networks.

DCARPE Alliance is a consortium of accounting, auditing, and financial reporting consisting of CPA, Chartered Accountants, enterprise software providers, and developers who contribute resources for development and encourage the adoption of the DCARPE Assurance and Disclosure Protocol. Auditchain enables companies to provide stakeholders the highest level of assurance through decentralized consensus-based external company validation.

Auditchain proposes to create an ecosystem that includes a blockchain protocol and an intelligent open source accounting library that is sufficient to capture, process, audit and report on continuous company data and performance data continuously under an ongoing independent audit that exceeds the current audit, audit and control the standard. Presentation-based layers face the public and / or permission proposes to make in real time, at the close of each block; balance sheets, income statements, cash and changes in shareholders’ equity reports that have capacities far exceeding the reliability of existing reporting standards.

Utilities and Description of AUDT Tokens & AUDT Fees

AUDT is the base currency or “utility token” used by users to access and pay for Auditchain Network services. AUDT is compatible with ERC20 and will be distributed in accordance with the token making event (“TGE”) for early adopters of the Auditchain network . See “Terms of the” TGE “Token Making Event.

AUDT fees are units of value based on the Auditchain Network and are pegged to the local currency of each respective jurisdiction. Transactions on the Auditchain Network are paid using an AUDT Fee deducted from the account at stake.

After the launch of the Auditchain network, the AUDT ERC20 token held by the holder will be exchanged with the Audtain original AUDT network token and migrated to the network.

AUDT Token Economy

Subject to protocol adjustments and improvements, AUDT tokens will be purchased at stake by each company. AUDT is used by every company to join Auditchain. AUDT is deducted from the stake account of each company to pay for the implementation, deployment of smart contracts, transaction validation, ongoing audits and company expansion.

Token supply

The total supply of AUDT in the genesis block is 250,000,000 which includes (i) 160,000,000 will be sold at TGE, (ii) 25,833,333 to be distributed to the team, (iii) 25,833,333 reserved and distributed to advisors, (iv) 25,833,333 is reserved and distributed to partners and providers of applications and services to the Auditchain network and (v) 12,500,000 are reserved and can be distributed in connection with the gift. See “Token Allocation”. In addition to offering AUDT initial tokens and subject to time of consensus blocking, proposal and improvement, approximately 12,500,000 additional AUDT tokens will be given to all Federated and Non-Federated nodes per year totaling around 237 AUDT tokens per block. Below is the infasi curve chart which results in a decrease in the initial supply of 250,000,

Extended Business Reporting Language “XBRL

The use of XBRL (18) has been universally needed and applied to all financial reports and reports that fled with the SEC since 2009. Its utility has also been significantly expanded to include a variety of compliance reporting.

Auditchain will include the implantation of the XBRL layer for company internal reporting and compliance and as a tool for research and analysis. Implementation will allow researchers and stakeholders the added benefit of configuring financial report data in a way that allows automatic production of proprietary and thesis-based reports.

Inability under real-time SOC certification combined with the presentation of financial statements, development, and real-time statistical statistics when combined with the application of XBRL will enable reliability and insight into the company, development and dynamic network performance in ways that were not previously possible.

Road map

Team

Conclusion

Based on the data and facts seen, Auditchain is very good for review and investment. This is based on reality for now, many projects are not good, and makes everyone who invests a lot of questions about their certainty and truth, so if you want to invest in this project, you should read all about the article I made, so you can find out more about this ICO project from them.

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