Hedera Hashgraph, the enterprise-grade, public distributed ledger platform, has announced a strategic partnership with Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S. The partnership allows Hedera ecosystem participants to leverage Armanino’s DLT assurance technology platform, TrustExplorer, and its new Trusted Node data service for a reliable source of transaction and account data.
Lionel Chocron, Chief Product Officer of Hedera Hashgraph, said, “Distributed ledger technology has the power to introduce unprecedented transparency, security, and performance to a myriad of industries; however, for ecosystem participants and their auditors, interacting with DLTs and extracting their data can present significant inefficiencies. Providing a scalable and efficient DLT network means ensuring that everyone, from our developers to our large-enterprise adopters, can easily track their own data on the network to be audited.”
With industry-standard trust mechanisms, the Armanino Trusted Hedera Mirror Node service offers Hedera ecosystem participants and their financial statement auditors relevant and reliable sources of information for balance sheet accounts with material activity in Hedera’s native token, the HBAR.
Andries Verschelden, Armanino partner-in-charge of Blockchain, said, “Putting data on blockchains and distributed ledgers offers great promise; however, making that data usable is hard. We believe there can be no mainstream adoption without enterprise-grade trust mechanisms. Today, we are building more trust and transparency with key partners and providing real tools to facilitate adoption. Our TrustExplorer platform, and all its applications, were designed from inception to be compliant, with a robust and auditable control environment.”
Armanino’s TrustExplorer will be audited by a third-party independent accountant under the American Institute for Certified Public Accountant’s system and organization controls (SOC) reporting standard.
Chocron concluded, “Hedera will be the future of the decentralized internet. This goal ultimately requires fast, effective routes to auditability and regulatory compliance. From an individual investor completing a tax return, to a large enterprise demonstrating regulatory compliance, Hedera continues to prioritize these efficiencies to ensure the scalability and realistic useability of the network.”