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AUDITCHAIN - Decentralized Continuous Audit and Reporting Protocol Ecosystem


Some publications have hinted that blockchain technology might eliminate the need for a financial statement audit by a CPA auditor altogether. If all transactions are captured in an immutable blockchain, then what is left for a CPA auditor to audit?

While verifying the occurrence of a transaction is a building block in a financial statement audit, it is just one of the important aspects. An audit involves an assessment that recorded transactions are supported by evidence that is relevant, reliable, objective, accurate, and verifiable.

The acceptance of a transaction into a reliable blockchain may constitute sufficient appropriate audit evidence for certain financial statement assertions such as the occurrence of the transaction (e.g., that an asset recorded on the blockchain has transferred from a seller to a buyer).

Auditchain is leading the development of the world’s first decentralized continuous audit and real time financial reporting protocol ecosystem for digital asset and enterprise assurance and disclosure. Auditchian enables continuous external validation of company systems and controls, financial data and disclosure control environments by the CPA and Chartered Accountants networks.

The DCARPE Alliance is an accounting, audit and financial reporting consortium consisting of CPAs, Chartered Accountants, enterprise software providers and developers who are contributing resources to the development and driving adoption of the DCARPE Assurance and Disclosure Protocol.

In addition, Auditchain enables enterprises to provide stakeholders with the highest levels of assurance through decentralized consensus-based enterprise external validation.

Driving the New Trustless Assurance Economy

The AUDT Token functionality powers the new world of decentralized assurance and disclosure. It’s what drives transparency of the modern enterprise from initial certification, early detection and remediation to financial reporting in real time with the highest levels of assurance through decentralized enterprise external validation.

AUDT Token

  • Auditchain Network Access

The AUDT Token unlocks a suite of applications and the most robust and secure decentralized network of enterprise assurance and reporting services.

  • Auditchain Network Services

The AUDT Token is the base currency and utility for enterprise application service, assurance and disclosure payments. AUDT unlocks network services that provide the highest levels of transparency to investors and stakeholders at a fraction of the cost of traditional audit and reporting.

  • Auditchain Network Interoperability

As a layer two protocol, Auditchain provides seamless interoperability between private and public blockchains which enables robust utility and atomic settlement of trade payables.

  • AUDT Fees

AUDT Fees for enterprises can be reduced to zero through subscription revenue sharing and enterprise participation in the decentralized trustless assurance ecosystem.

  • Premium Stakeholder Assurance

AUDT enables stakeholders to unlock and view granulated enterprise audit analytics and financial performance detail that provide the highest levels of transparency from enterprise system and control statistics to real time financial performance.

About the TGE

Auditchain will be conducting a token generation event, (“TGE”) of a total of 250,000,000 AUDT which will initially be launched on the Ethereum network through the deployment of an ERC20 smart contract.

A total of up to 100,000,000 AUDT will be sold to early adopters, 45,000,000 will be allocated for the “Proof of HODL” Airdrop, 25,833,333 will be allocated to the team, up to 25,833,333 will be allocated to advisors, up to 25,833,333 will be allocated in connection with partnerships, 15,000,000 will be allocated to early adopters and up to 12,500,000 will be allocated in connection with our bounty campaign.

AUDT will used by subscribers to consume granulated levels of financial detail and audit analytics published by enterprise adopters of the DCARPE™ Assurance and Disclosure Protocol through the DCARPE™ Explorer.

Upon launch of the DCARPE™ Assurance and Disclosure Protocol, 12,500,000 additional AUDT will be emitted annually in connection with rewards. Annual reward amounts are approximate and are dependent on actual block times.

Airdrop Terms

The “Proof of HODL” Airdrop will include a drop of up to a total of 45,000,000 AUDT Tokens in four (4) separate airdrops to early adopters over the course of the one-year period following the final phase of the Auditchain IEO.

Wallet addresses must contain a balance of AUDT Tokens at the time of the snapshot,

The balance of AUDT Tokens contained in each wallet address must be identical in state or contain a higher quantity for each of the consecutive blocks following the snapshot.

No AUDT may be moved or transferred at any time from the wallet address. Every block will be audited to verify that no movement of any AUDT occurred between the snapshot block and the Airdrop. Any movement of any amount will result in the disqualification of that address for that specific Airdrop.

Airdrop Allocation Calculation

Each Airdrop will be distributed to eligible wallets containing an AUDT Token balance in proportionate to their stake in the total amount of AUDT Tokens held by eligible wallets. This will be calculated using the following formula:

Total Airdrop Amount multiplied by the Number of AUDT Held by the Adopter divided by the Total Number of AUDT Eligible to Receive the Airdrop equals the number of AUDT you will receive in each Airdrop.

Token Details

  • Ticker: AUDT
  • Token Type: ERC20
  • Available for sale: 160,000,000 AUDT (80%)
  • ONLY 1,000,000 AUDT WILL BE SOLD!
  • The AUDT Token sale will begin at 14:00 UTC on the 14th of June!
  • Price: $0.20 USD
  • Tokens for sale: 1,000,000
  • Blockchain: Ethereum: (ERC20)
  • Currency pairs: BTC, ETH, USDC, EUR
  • Mandatory KYC
  • Restricted countries: United States of America, Afghanistan, Cuba, Iran, Iraq, Libya, N. Korea, Syria, Myanmar, China, Haiti, Liberia, Rwanda, Somalia, Sudan, or Democratic Republic of the Congo

Token Allocation

Road Map

Team

For more information, please visit:

Website: https://auditchain.com/
Whitepaper: https://auditchain.com/Auditchain-Whitepaper.pdf
Twitter: https://twitter.com/Auditchain
Telegram: https://t.me/Auditchain_Community
LinkedIn: https://www.linkedin.com/company/auditchain
Facebook: https://www.facebook.com/Auditchain/
Reddit: https://www.reddit.com/r/Auditchain/
YouTube: https://www.youtube.com/channel/UC7NlWkYBlsPRZ26e8e2-yKw
Instagram: https://www.instagram.com/auditchain_official/

Author: JigaMola
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1847143


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