Blockchain Starts Making Waves in the Accounting Space with Armanino

Table of Contents

• TrustExplorer

Some of you may have heard of Armanino, the accounting and business consulting company based in California. Well, the firm has just recently revealed a new blockchain-fueled software tool organisation of finances for firms such as this one.

TrustExplorer

Well, the software was in fact launched earlier today, with reports saying that the distributed ledger technology-based tool can supposedly perform originated financial audits in just seconds. Armanino’s new product has been dubbed the TrustExplorer 2.0 and is among several others that have been crafted and designed to make the routine accounting processes much easier and less convoluted.

This newly launched TrustExplorer offers real-time final audits and has actually been based on another auditing program. Andries Verschelden, one of the firm partners added, that - “We have this digital ledger that becomes the single point in truth capturing all these transactions. You open up the possibility of real-time audit and being able to provide transparency.”

Armanino is a company that is just one of the many companies across the globe that have adopted blockchain in one way or another. Not only is this great for adoption, as this is yet another sector where we can see blockchain thriving to its full potential, but accounting companies will soon see growth thanks to this technology. Moreover, there are the Big Four companies that are seeing use from DLT. As an example, Deloitte and PricewaterhouseCoopers.

Deloitte’s management said in 2016:

“Since all entries are distributed and cryptographically sealed, falsifying or destroying them to conceal activity is practically impossible. It is similar to the transaction being verified by a notary – only in an electronic way.”

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