The startup develops a decentralized accounting and reporting virtual machine that automates financial disclosure and provides proof of assurance through continuous external validation. This technology enables enterprises to maintain accurate financial data and control environments, ensuring stakeholders receive reliable assurance without the need for traditional audit processes.
Funding
Funding not disclosed
Founders
Product
Problem
Current financial reporting methods often lack the transparency, real-time validation, and standardization required to meet the evolving needs of regulators, investors, and businesses, especially in the rapidly growing digital asset space. Traditional audits are periodic, manual, and costly, making it difficult to ensure continuous compliance and build trust in financial data.
Solution
Auditchain provides a decentralized accounting and financial reporting infrastructure that leverages blockchain technology and AI to automate and validate financial disclosures. The Auditchain protocol uses the Pacioli AI Logic and Reasoning Engine to read, understand, and detect inconsistencies in machine-readable financial statements and crypto asset disclosures. The Luca Suite enables the creation of machine-readable financial reporting models and crypto asset white papers in iXBRL format, ensuring compliance with global standards and regulatory requirements like MiCA and VARA. By incentivizing accountants and professionals to contribute to the infrastructure through Process Control NFTs, Auditchain facilitates continuous assurance and real-time reporting, enhancing the integrity and reliability of financial information.
Target Audience
The primary target audience includes crypto asset issuers, traditional businesses, regulators, auditors, and investors seeking transparent, reliable, and continuously validated financial information.
Features
- Luca Suite: A structured disclosure management system for creating machine-readable financial reporting models and crypto asset white papers.
- Pacioli AI Logic and Reasoning Engine: An AI-powered engine that validates financial and operational state, ensuring accuracy, completeness, and consistency.
- Standard Business Report Model (SBRM): A bi-directional, structured data agnostic logical interchange specification for financial data.
- Process Control NFTs: Incentivizes contributions to the infrastructure by rewarding creators of accounting, reporting, audit, and analysis controls.
- iXBRL Support: Automates the drafting of whitepapers in the iXBRL format, compliant with MiCA and VARA specifications.
- Real-time Validation: Provides continuous assurance and real-time reporting, enhancing the integrity and reliability of financial information.
- Multi-Tenant Collaboration: Facilitates collaboration between issuers, service providers, and regulators in the structured data disclosure process.