What Is Accounting Blockchain?
The accounting blockchain (TAB) is a common ground that provides triple entry accounting and smart contracts that are made specifically to comply with the available market of accounting software packages. The technology changes how companies invoice among each other and the payment solution along the supply chain, using cryptocurrency.
Smart contracts enables companies to settle invoices using the company's tokens, thus inefficiencies are eliminated along the supply chain while transactions are done in a faster and secure way. This allows companies and end consumers to experience a lot of savings. TAB is the ultimate solution that integrates blockchain for use by any accounting software company and brings a connection with its customers in the way business is done.
Accounting Blockchain Project Mission
The mission of the platform is to allow the global accounting community to experience variety of advantages and trustworthiness brought about by blockchain technology through the provision of products that integrate fully with the advancements in the field of blockchain. There is no barrier to entry or discrimination for these companies.
The solutions provided by accounting blockchain are:
The AB Fingertips Suite
This accounting software platform is generated around the concept of triple entry. It allows triple entries to be connected automatically to business transactions. The platform is user-friendly and easy to use. The usage of blockchain in the storage of triple entries reduces the costs incurred in reconciliations.
The AB Taxavance
This easy to use platform acts as a tax assistant and allows businesses to keep track of their trades and tax implications that come with them. The platform contains tax parameters generated by global tax experts that work out in real time the exposure of crypto trades to tax and recording the information to be issued at the end of the term.
Accounting Blockchain AB Token & ICO Details
The platforms tokens called the AB tokens are utility tokens in the platform that are ERC20 compliant on the Ethereum blockchain. Users need to hold the tokens issued during the Initial Coin Offering to be allowed to store their accounting information on the blockchain. The AB tokens are used as the main currency for transactions made on the platform.
Parameters Of The ICO
- Token symbol: AB
- Sale date: July 2018 to August 2018
- Accepted payment method: USD, BTC, ETH
- Total token supply: 22,000,000,000
- Hard cap: 64,000,000 USD
- Soft Cap: 4,000,000 USD
Accounting Blockchain Benefits
Businesses and consumers experience much savings while using the accounting blockchain. This is brought about by the involvement of a third party business thus the costs of security of data is eliminated. The funds otherwise used for storage of records are saved for other uses.
With the use of blockchain technology, there are drastic reductions in the risks of fraud to companies. The records stored in the accounting blockchain are safely secured from falling into wrong hands, since only involved parties can access it. Security of funds is an important component of the crypto space and the platform seeks to safeguard this area effectively.
Ease Of Usage
The accounting blockchain is very easy to use and anyone in the whole world can easily join and experience the advantages brought about by blockchain technology. There are no discriminations as to who joins.