Place/Date: Zug, Switzerland - April 6th, 2022 at 1:39 pm UTC · 3 min read
Contact: Auditchain, Source: Auditchain Labs AG
Auditchain Labs AG, the developer of the world’s first decentralized accounting, financial reporting, audit, and analysis protocol for assurance and disclosure, announced today that its native token, AUDT, will be supported on BitMart, a global cryptocurrency exchange on Thursday 7 April 10:00 UTC.
By making AUDT available to BitMart’s 9 million users globally, the support is expected to increase the liquidity of AUDT, making the Auditchain Protocol more accessible to early adopters ahead of its official launch on 8 June at the Digital Accountancy Show – Powered by Auditchain.
AUDT is the staking, settlement and governance utility on the Auditchain Protocol with a supply cap determined through governance by the community of AUDT HODLers. AUDT is needed to fulfil staking requirements for Pacioli Node operators which perform financial statement and Process Control NFT validation.
Auditchain is a decentralized protocol that enables reporting entities to automatically validate whether their financial reports are accurate, complete and comply with regulatory and financial reporting standards. It leverages XBRL (eXtensible Business Reporting Language), the global standard syntax for reporting machine-readable financial and business information originally championed by Auditchain product manager Charles Hoffman, CPA.
AUDT is also used to settle the allocation of royalties between creators and validators of Process Control NFTs. Process Control NFTs automate accounting, financial reporting, audit and analysis processes on the Auditchain Protocol. Creators of Process Control NFTs update and extend the functionality of the platform by developing logic-based controls.
Auditchain Labs AG is leading the development of the world’s first decentralized accounting, audit, financial reporting and analysis protocol that automates and provides proof of assurance on the world’s business and financial information. Auditchain Labs AG is a founding member of the DCARPE Alliance Association and is leading the development of the Auditchain Protocol with other members of the Alliance.
The DCARPE Alliance Association is a global organisation consisting of members of the accounting, audit, financial reporting, legal, blockchain, investment, standard setter and regulatory community. The purpose of the Alliance is to adopt standards, provide education, drive technology innovation and promote the adoption of continuous audit and real time digital financial reporting using the Auditchain Protocol.
BitMart Exchange is a premier global digital asset trading platform with more than nine million users worldwide. It is ranked among the top crypto exchanges on CoinGecko. Offering over 850 trading pairs with one of the lowest trading fees in the industry, it is a constantly evolving and growing platform.