DARFChain is a Russian startup that aims to change the world of distributed accounting and financial tracking. Here’s our DARFChain review.
What Is DARFChain?
DARFChain, found online at DARFChain.com, stands for “Distributed Accounting, Resource and Financial system in blockchain.”
The platform is a unique distributed system involving accounting, financial tracking, and resource accounting. It’s an enterprise resource planning (ERP) system built on blockchain technology. It’s also designed to be compatible with all major ERP systems.
The overall goal of DARFChain is to involve small entrepreneurs in digital currencies. The platform wants to create new opportunities for running a business, including fully distributed and trusted accounting platforms and the rapid creation of investment financial instruments.
With DARFChain, entrepreneurs and cooperatives will be able to do business “practically without attracting bank loans”, explains the DARFChain official website. They can also do business without cash (businesses can issue their own cash), without the use of bank cards, and without the use of POS terminals. All the user needs are a computer, a smartphone, and a mobile phone.
How Does DARFChain Work?
The primary goal of DARFChain is to create a distributed, immutable, trusted accounting platform that integrates the benefits of ERP systems with the benefits of blockchain technology.
It’s described as a “brand new way to manage enterprise businesses in the world of tokenomy” on the DARFChain.com official site. DARFChain envisions a future tokenomy where everyone can create his or her own digital assets and use those assets to pay for goods and services. The company also wants to build a distributed blockchain ERP platform with end-to-end analytical token accounting to help crowd investors and entrepreneurs manage their ICO assets.
To achieve those goals, DARFChain will implement various modules and plugins to existing ERP systems – including SAP – to manage the blockchain platform. These modules and plugins will:
- Enable the exchange of tokens and trading bots
- Build the designer and semantizer of smart contracts
- Provide invoicing and payment without smartphones, via SMS
DARFChain plans to monetize the platform through payments on its blockchain. Furthermore, the supply of DARFChain tokens is limited, and the need for tokens will grow with the growing number of users. DARFChain plans to be based on a freemium model: the platform will be free to download and install with an accounting module. Free accounts will be able to read and write transactions in the blockchain.
DARFChain’s main components include all of the following:
- ERP system (in the center), which acts as the core of the accounting platform, including management modules, production, project accounting, and CRM
- Payment module that facilitates the addition of users who don’t have a smartphone; payments can be managed exclusively via SMS
- Subsystem of local data storage and analysis, or basically a local database server
- Module for synchronizing changes to the blockchain for distributed, immutable trusted storage
- Visual designer of smart contracts allows you to link enterprise activities with smart contracts
- Built-in token exchange where participants can exchange tokens of their products with the tokens of the suppliers they need
The DARFChain Token Sale
DARFChain’s token sale is taking place throughout August and September. Tokens were available at a 50% discount throughout the pre-ICO period.
You can learn more about the DARFChain token sale online at DARFChain.com.
Who’s Behind DARFChain?
DARFChain is led by Konstantin Bakulev, PhD Economics and also the Director of the Institute of Social and Economic Modernization. He’s an economist, political scientist, philosopher, and author of the concept of the international network of municipal economies.
Other key members of the team include Stanislav “Stanta” Taktaev, an entrepreneur with 20+ years of experience.
DARFChain’s development team is based in Russia.
DARFChain is a blockchain technology platform aimed at the world of enterprise resource management (ERM). The platform integrates with existing ERM platforms and aims to improve the way businesses manage their accounting and financial reporting.
The ultimate goal of DARFChain is to create the platform that will run the “tokenomy” – the token-based economy we’re quickly moving towards. The creators of DARFChain envision a future where every individual and corporation can create their own currency.
You can learn more about DARFChain online today at DARFChain.com.