Auditchain Review (AUDT Token) - Audit words are more often and tend to cause anxiety and stress in a company or an organization. That's because a review is an examination of the company's finances and whether they do use the right standards to produce their numbers.
However, there are significant weaknesses in the current audit system with its security, as well as the existence of fraud that makes a bad percentage of the audit. But some companies or organizations find that the use of blockchain technology can be useful in providing accountability in the audit process. As a digital ledger, the blockchain allows a transparent and secure data management distribution structure.
Auditchain is a platform for auditing (accounting checks) as well as accounting and ecosystem direct financial reporting for companies whether it's business or decentralized individuals. The Auditchain platform will combine open source portals for smart contracts that enable the capture, process, reports and audit of business data and performance through continuous independent audit standards.
Decentralized audit systems will use the DCARPE protocol to give company data reports to shareholders' reports in an authentic and real-time manner.
The concept of a sustainable audit will provide audit assurance stakeholders using Auditchain's public reporting console. If a console review and internal reporting is needed, use Audit Analytics to audit the data provided and provide results. Depending on the type of audit that requires, the console conveys results through various network nodes.
The auditchain platform has enormous benefits whether it's a company or an organization. By using an auditchain platform that has consensus governance, it will allow many users to access information in real time without the risk of data violations, hacking, or manipulation. In addition, transparent transactions can be seen from a continuous audit feature that allows to audit and record open-source business information available for review by each member.
Another benefit of the auditchain platform is Automatic Audit. Automated Audit further facilitates real-time recording, validation, and verification of data through smart contracts. The Automatic Audit feature enables rapid recovery of information that will take the services of a professional auditor. And the last benefit of the auditchain platform is Real-Time Audit Data Analysis, which will execute commands to check data and provide results through previously configured conditions set by the platform.
Using blockchain technology, Auditchain's goal is not only for audit services or financial reports, but also provides data protection services. As such, AuditChain has the opportunity to occupy the first position and push us into a new trust economy.
The information above is just a small part, you can read more details about Auditchain by reading the whitepaper and visiting the official AuditChain website and following their social media.
Reference:
1. https://auditchain.com
2. https://auditchain.com/Auditchain-Whitepaper.pdf
3. https://www.indonesiaportalico.com/2019/07/auditchain-platform-audit-dan-laporan-terdesentralisasi.html
What is Auditchain?
Decentralized audit systems will use the DCARPE protocol to give company data reports to shareholders' reports in an authentic and real-time manner.
Auditchain Key Features
By becoming the first decentralized financial audit and reporting platform, Auditchain has three main features on its platform:- Access and Service Network Auditchain: The network will consist of payment rules and services for auditing and automation of disclosures.
- Payments with AUDT tokens: Auditchain Tokens (AUDT) will be the main platform exchange method for services. Companies will experience low prices with their participation in the AUDITCHAIN platform.
- Premium Guarantees for StakeHolder: Every stakeholder will have the opportunity to experience the highest level of transparency and control over their financial performance in real time.
Auditchain Platform Protocol
The main protocol of the Auditchain platform relies heavily on the use of smart contracts to record or report various types of data. DCARPE (Decentralized Continuous Audit and Report Protocol System) will cover several balance sheets, income statements, and return forms, all in real-time.The concept of a sustainable audit will provide audit assurance stakeholders using Auditchain's public reporting console. If a console review and internal reporting is needed, use Audit Analytics to audit the data provided and provide results. Depending on the type of audit that requires, the console conveys results through various network nodes.
Benefits of Using the Auditchain Platform
Another benefit of the auditchain platform is Automatic Audit. Automated Audit further facilitates real-time recording, validation, and verification of data through smart contracts. The Automatic Audit feature enables rapid recovery of information that will take the services of a professional auditor. And the last benefit of the auditchain platform is Real-Time Audit Data Analysis, which will execute commands to check data and provide results through previously configured conditions set by the platform.
AUDT Token
AUDT is a digital currency or utility token that will be used by users to pay for implementation, smart contract deployment, transaction validation, ongoing audits and company expansion. The AUDT Token is an ERC20 standard token developed based on the ethereum blockchain. In addition, AUDT token holders will have the right to access and use services from the Auditchain network. The AUDT Token will also be used to be associated with a digital identity application that will identify each company user and every Federation Node operator.Conclusion
Auditchain has concepts and innovations that have high potential in the future. Because auditchain is the audit platform that first used blockchain technology. In addition, Auditchain seems to have a platform that will provide audit services more cheaply and conveniently.Using blockchain technology, Auditchain's goal is not only for audit services or financial reports, but also provides data protection services. As such, AuditChain has the opportunity to occupy the first position and push us into a new trust economy.
The information above is just a small part, you can read more details about Auditchain by reading the whitepaper and visiting the official AuditChain website and following their social media.
Reference:
1. https://auditchain.com
2. https://auditchain.com/Auditchain-Whitepaper.pdf
3. https://www.indonesiaportalico.com/2019/07/auditchain-platform-audit-dan-laporan-terdesentralisasi.html