Verady is an Atlanta-based company that aims to provide asset audits and verification over blockchain technology. Find out how it works today in our review.
What Is Verady?
Verady is an asset auditing and verification platform established in October 2016. The goal of Verady is to redefine the financial landscape by improving auditing and compliancy for blockchain-based assets.
As the Verady website explains, audit and accounting standards haven’t caught up to modern times – despite the fact that cryptocurrency has already redefined the financial landscape.
With that in mind, Verady will launch the VeraNet platform, which will consist of trusted accounting firms providing auditing and compliancy services to companies dealing with blockchain-based assets.
Verady’s token sale for VERA tokens is scheduled for early 2018.
Verady Products And Services
Verady’s services are broke down into two broad groups, including Audit Services and Accounting Services. The company provides cryptocurrency accounting and auditing services for leading companies.
Since the first versions of Verady’s products and services were created in 2014, Verady tools have been used to track hundreds of millions of dollars of transaction volume (although Verady was officially founded in 2016, the tools were previously used at Coinpliance, which has since been purchased by a larger company).
Verady is currently working to integrate its products and services as a turnkey solution with Xero and QuickBooks, two of the biggest accounting platforms in the world.
Verady was founded on the belief that traditional accounting systems – including Xero and QuickBooks – lack the functionality required to handle cryptocurrencies and other blockchain-based assets. This leads to a gap between investors who hold digital assets – and accountants trying to accurately manage taxes and compliancy.
With that in mind, Verady wants to hold information in a way that accountants, auditors, and other financial professionals can access, understand, and use.
The end result is a platform called VeraNet, which is Verady’s blockchain asset assurance network. VeraNet bridges the gap between blockchain-based assets and traditional financial systems.
VeraNet was deployed on the Ethereum network in Q4 2017.
The Verady Token Sale (VERA Tokens)
Verady has announced plans to launch a token sale for its VeraNet platform. That token sale is scheduled for early 2018. Verady will sell VERA tokens, which will be utility tokens for the VeraNet platform.
Throughout 2018, Verady plans to expand its network of trusted accounting firms on VeraNet while working to incorporate ETH auditing and continuous audit services.
By the end of 2018, Verady aims to provide tax liability calculations through the VeraNet platform, enhanced ERC20 token reporting, and APIs, SDKs, and other tools to make VeraNet more accessible to companies.
Stay tuned for more information about the VERA token sale as the ICO gets closer to launch.
Verady was founded in October 2016 by Kell Canty (CEO) and Nathan Eppinger (CTO), although the first versions of Verady products were created in 2014. Verady is based in Atlanta, Georgia.
Verady’s founding team had previously founded Coinpliance, a blockchain regulatory software company. That company was later sold to a major provider.
Co-founders Canty and Eppinger are computer science graduates from Georgia Tech. Canty initially learned about bitcoin in 2012 after taking an interest in payments and computer science. He became intrigued by the idea for a bitcoin regulatory software company, which led to the founding of Coinpliance in 2013. Later, he and Eppinger reconnected to establish Verady for the purpose of addressing the world of blockchain asset assurance.
Verady was founded to address a problem in the world of financial accounting: today, platforms like QuickBooks and Xero manage businesses and finances worldwide. However, these platforms are ill-equipped to handle cryptocurrencies and other blockchain-based financial assets.
With that in mind, Verady wants to bridge the gap between blockchain-based assets and traditional financial instruments, with the long-term goal of increasing efficiency, auditing, and compliancy.
To learn more about Verady’s solution and services, visit online today at Verady.com.