There are countless cases of auditing fraud globally, occurring to different firms, in different industries. As the current system in the industry has serious defects related to conflicts of interest and the issue of trust, a better system needs to be found.
For these issues, it could be said that Blockchain technology is an ideal solution. What lies behind the suitability for a Blockchain in both accounting and auditing industries, is its breakthrough technology. Mathematical proof and decentralised databases eliminate the mistrust toward unaudited financial statements. The Blockchain includes decentralised and distributed data security, transparency, and immutability; all features presently needed by the accounting industry.
Our vision is to protect the public’s interests by focusing on innovation using the latest technology, in order to create sustainable, low-risk and highly dependable financial data. The mission that we take is to revolutionise traditional accounting procedures; building a stable credit mechanism; reforming the accounting industry, and developing achievable and more efficient social resource collaborations.
The market for Ledgerium consist of those companies with a large number of debtors and creditors in their database; business and non-business entities that need to be audited; small and medium business that need investments; certified public accountants and Blockchain related business.
We can achieve this by using the triple entry accounting system which consists of decentralized and distributed ledger; the triple entry accounting system can overcome the drawbacks of the traditional double entry accounting.
Ledgerium is building this renovative Blockchain platform. It can be deployed in various industry, entities and even just as a procedure alone. It has three major components: Ledgerium identity platform; Ledgerium file system and the Ledgerium Blockchain including the accounting auditing application.
Ledgerium will utilize a proof of stake model for reaching consensus. The Ledgerium ecosystem provides a decentralised and efficient way of managing accounting ledgers between any given parties.
Overall Ledgerium is a company that brings Blockchain to the accounting and audit industry. We aim to create a decentralised ledger through a triple entry accounting system and revolutionise the traditional audit procedure. We believe that the trust mechanism of Blockchain could lower accountancy costs and allow more small and medium businesses to use high-quality services like auditing, ensuring a fairer, more transparent business world can be built.
Official links:
Website: https://www.ledgerium.net/
Twitter: https://twitter.com/ledgerium
Facebook: https://www.facebook.com/Ledgerium/
Slack: ledgerium.slack.com
Reddit: reddit.com/user/Ledgerium/
Ledgerium Telegram Communities:
English: https://t.me/Ledgeriumofficial
中文聊天：https://t.me/Ledgeriumofficial_Chinese
