ICO Review AUDITCHAIN

REAL-TIME ASSURANCE. ONE BLOCK AT A TIME

Decentralized Continuous Audit & Reporting Protocol Ecosystem™

The decentralized continuous audit and reporting protocol ecosystem “DCARPE™ uses a GAAP and IFRS compliant smart contract platform to AuditChain provides the presentation of balance sheet, income statement, cash flow and statement of changes in stockholders’ equity reports in real time, or “every block”.

Token Generation

Event and Token Metrics Auditchain will conduct a token generation event (“TGE”) totaling AUD $ 250,000,000, which will initially be launched on the Ethereum Network through the provision of an ERC20 Smart Contract. The TGE date has not yet been determined, but will be announced soon. A private sale is currently under way and starts at 25 ETH. Sign up for private sale here: https://auditchain.com/privatesale/

Decentralized Continuous Audit & Reporting Protocol Ecosystem™

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 enterprise system and control, financial data and disclosure control environments by a network of CPAs and Chartered Accountants. 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. 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.

TERMS OF 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.

160,000,000 AUDT will be sold to early adopters,

25,833,333 will be assigned to the team [Sperrzeit]

up to 25,833,333 are allocated to advisers [retention period]

up to 25,833,333 will be allocated through partnerships

Up to 12,500,000 will be allocated in connection with our Bounty Promotion

Includes a total of AUD 60,850,000 distributed in connection with the Airdrop and early adopters related to private sales.

In addition to the initial audt-token supply and subject to block schedules, consensus proposals and enhancements, approximately 12,500,000 additional AUDT tokens are awarded annually for all Federated and Non-Federated Nodes, which is approximately 237 AUDT-tokens per block, depending on the block time.

Token Sales

For token sales, code repository integration, as well as network integration, it will be possible to provide real-time reporting of development statistics and network statistics for ongoing performance reporting and disclosure for token sales and token utility, respectively.

Public Advance Sales Start on November 15, 2018 at 9AM CET, (UTC + 1)

Release

Audichain wants to carry up to 42,685,499 passengers .996 AUDT after the TGE. A first impression of all AUDT balances in all Ethereum wallets is taken 60 days after the TGE from the last validated block, with the first Airdrop taking place 60 days after the first impression. Subsequent impressions and airdrops occur 90 days after the previous cycle. Final calculations and block height impressions will be announced before each event.
Smart contracts.

An open source library of smart contracts is being developed that includes a variety of GAAP, IFRS and Government Accounting and Audit Standard “GAAS” accounting treatment protocol and jurisdictional tax treatment protocol for all corporate transactions. Previous phase and venture-backed companies spend a high percentage of equity compensation and convertible equity accounting resources. Priority will be given to the development of a sample of Fas 123R accounting contracts in the context of equity-based compensation plans. In addition, convertible bond contracts under FASB ASC are also considered a priority for development. Read more in a whitepaper
The audt-token functionality provides the new decentralized corporate world. This is what drives the security of the modern enterprise, from initial certification through early detection and remediation to the disclosure of real-time financial and audit analytics with the highest integrity through consensus-based external business validation.