Fizcal is a new revolution in the blockchain environment which is scheduled to be released in October 2017. It is the first of its kind, a form of next generation blockchain accounting software with deflationary cryptocurrency. October is the month scheduled for the first Fizcal ICO.
This was the natural evolution that was supposed to come about in this hi-tech space of cryptocurrencies and will mark a significant advancement in the way cryptocurrency accounting is used in business.
Fizcal uses blockchain technology to create a distributed, triple entry accounting ledger for businesses. This company is attempting to be the first in the world to come up with the fully-functional distributed triple entry accounting technology that would revolutionize the accounting industry that has $200 billion market size the world over. Fizcal will also have their deflationary cryptocurrency, known as Fizcal Coin, which may be integrated into the accounting software which is automated to protect the value of user holdings.
Meet The Team
The CEO of the company is someone who is a pro at investing in cryptocurrencies from way back in 2013. Ismael Rahim has worked with the likes of RBS, CMG Logica, and many others as an IT Specialist after graduating from the University of Manchester. Horatiu Christian Dragan joined Rahim as the CTO of the company, and with a degree and experience in Electrical Engineering and Computer Science, he has had a lifetime of handling complex software and hardware problems, including coming up with elegant solutions.
The young team has many more people who completely believe in the power of distributed accounting and the company operates out of Belize City in British Honduras.
The Magic Of Distributed Accounting
The principle used for Fizcal was first presented by Yuji Ijiri in 1989, and Fizcal proposes to be the first in the world to make a working model that would revolutionize the accounting industry.
How this product works is simple to explain, but takes genius to execute.
The transactions of the companies can be directly recorded in triple entry accounting in joint distributed ledgers or registers. This creates a connected system of records that are highly secure. With this revolution, the company is attempting to make the localized ledgers for accounting that are used by companies obsolete.
The company also offers Fizcal coins that have the ability to protect the value of the coin. For every new coin that is minted there will be coins that are destroyed to ensure that demand always surpasses supply.
Why Choose Fizcal?
- The software records all the transactions between the businesses directly on the blockchain, keeping it distributed. This can bring down the cost and time required for extensive audits considerably.
- The deflationary Fizcal coin is designed to ensure that the demand outweighs the supply at all times and therefore protects the value of holdings in the possession of businesses.
- The Fizcal accounting software and Fizcal coin ensures heightened security using facial and voice recognition. This is integrated directly into the system to ensure every transaction is secure. The accounting software is decentralized and automated and uses encrypted data to ensure absolute security to the transactions recorded in the blockchain.
- It can create smart contracts and invoices and they enable instant payment. It can also ensure that your reports are generated very easily and instantly.
- Fizcal will also employ AI in their accounting software, decreasing the necessity for completing routine tasks over and over again. This would improve the costs associated with accounting and book keeping.
The Future of Fizcal
We are at the brink of the biggest accounting revolution, as long as the business world is willing to accept Fizcal and give it a fighting chance. We will have to wait until after the ICO to see how the world of accounting changes and how many are willing to adopt this new and improved system.