LEDGERIUM

LEDGERIUM REVIEW

Written by: Kyle Crutchley Website: www.ledgerium.net

Secure, Lower Costs, Regulatory Compliant. 6.2 THE BUSINESS MODEL AND ECOSYSTEM To allow healthy growth and development of the system, all tokens acquired via the subscription service will be partially reinvested into the business and the Master Node, and partially be burned. Ongoing adjustments to the above distribution will be performed to achieve optimally efficient business development. Burning coins will have the benefit of increasing the value for Ledgerium holders by reducing the number of coins in circulation.

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LEDGERIUM

Accounting costs have spiralled, as the rise in transactions has created an industry where only large companies have the financial means to access this information. Because of the nature of the industry, auditing frauds and appeasement of companies to the detriment of investors have become common place.

In order to open up the market and attempt to create more secure, transparent accounting practices through the use of blockchain technology and triple-entry accounting, Ledgerium has been developed.

The aim of Ledgerium is not to just develop a more transparent and secure accounting industry, but to make it affordable for small businesses to access services like auditing, previously only available to those with significant funds to pay for pricey audits, such as large companies.

The key to revolutionising the accounting industry lies in the blockchain technology at the heart of Ledgerium. Blockchain provides the means to cheaply record transactional information while still being as effective and secure as traditional accounting. Ledgerium’s blockchain is also incredibly transparent, as being through the blockchain, all transactions on Ledgerium can be verified. This, along with its security makes it a promising tech.

LEDGERIUM

The Advanced Accounting Ledger on the Blockchain

An important part of Ledgerium is its decentralised nature. This attribute ensures that any transactions on Ledgerium can not be tampered with, creating an accounting system where fraud is virtually impossible and all financial transactions and documents on the blockchain are 100% accurate, allowing businesses and investors to be sure that all financial data is correct.

The Ledgerium blockchain can be used in any industry that utilises accounting services, as well as those firms that require auditing services. These industries can vary from any private enterprise, to governmental institutions, all of whom will benefit from the increased security features of Ledgerium and the minimisation of fraud from using blockchain technology.

Ledgerium works through the triple entry accounting system. How this works is that rather than the traditional system of keeping and adjusting records of the same transactions in two private and independent databases susceptible to fraud, both parties are also recorded in a shared book. These books can be updated in real-time, as all transactions go through the blockchain and the shared book, meaning that all payment processes, invoices, and contracts can be processed and updated onto the Ledgerium software instantly. This differs and is much more convenient and efficient than the traditional accounting system, which relies on outdated reconciliation processes that take days, as opposed to seconds with Ledgerium.

Ledgerium’s development has commenced, and is presently scheduled for a full release in the first quarter of 2019. With a prestigious team made up of academics in the field of accounting, professionals with significant experience in blockchain technology, and accounting firms, the adoption of Ledgerium will revolutionise the industry.