Connect with us
Prague Gaming & TECH Summit 2025 (25-26 March)

Blockchain

Auditchain Expands Footprint in $600 Billion Global Accounting, Financial Reporting and Audit Services Market With Acquisition of Areport

Published

on

 

Auditchain Labs AG, the developer of the world’s first decentralized accounting, financial reporting, audit, and analysis protocol for assurance and disclosure, announced today that it has acquired Areport, a platform for creating XBRL-based (eXtensible Business Reporting Language) models, taxonomies and reports. The acquisition substantially widens the footprint and capabilities on the Auditchain Protocol for financial reporting by reporting entities.

It is estimated that the acquisition of Areport will substantially increase the AUDT token utility on the Auditchain Protocol. Areport will provide a suite of tools that enable enterprise users on the Auditchain Protocol to create control sets, reporting taxonomies and XBRL-based financial reports using the ISO Standard Data Point Model (DPM). DPM is a reporting model tailored to the requirements of the European Banking Authority and other regulatory authorities.

Fuad Begic, founder and developer of Areport will join Auditchain Labs as lead engineer to continue expanding the development of the Areport suite. Fuad stated: “I am really excited about the combination of Areport and Auditchain and to be a part of the effort to help build Auditchain into a complete decentralized expert network and to be working alongside experts like Charlie Hoffman“. 

Areport will add substantial additional functionality for Process Control NFT creation by reporting entities. With Areport, each reporting entity will now be able to compose, originate and extend unique sets of Process Control NFTs representing machine-readable and searchable financial models, Process Control sets and reporting taxonomies using the XBRL global standard syntax.

Advertisement

The Areport acquisition provides more tools for reporting entities and complements and extends the Auditchain Protocol with the current capability to validate and enable audit of XBRL-based financial reports created within the Areport suite using Pacioli, the logic and reasoning engine at the heart of the Auditchain Protocol for financial statement and Process Control NFT validation.

In most jurisdictions globally, reporting entities are required to formally submit information to regulators about their financial performance, compliance, and/or exposure to risk. In recent years, traditional paper and PDF documents are being augmented or replaced with structured, machine-readable reporting. XBRL is a widely accepted global standard syntax for reporting machine-readable financial and business information.

Charles Hoffman, CPA and product manager stated, “Areport creates a suite of product offerings on the Auditchain Protocol that perfect and augment XBRL-based reporting to large regulators like ESMA and the SEC. We want to bring these modern reporting approaches to issuers of digital assets and traditional enterprises by creating easy-to-use, inexpensive, and high-quality reporting solutions using standards-based, best-practice methods such as DPM and the Standard Business Report Model adopted by OMG”.

Areport will be integrated into the Pacioli Logic Engine via API library by 8 June for the official launch of the Auditchain Protocol which will take place LIVE at the Digital Accountancy Show – Powered by Auditchain at Tottenham Hotspur Stadium in London.

Auditchain is in the process of becoming a member of the industry standards consortium XBRL International, which created XBRL over 20 years ago with the American Institute of Certified Public Accountants. There are over 180 XBRL projects in 60 countries. Prominent examples include the Dutch Waterboard, the U.S. Securities and Exchange Commission (SEC), the U.S. Federal Deposit Insurance Corporation (FDIC), the U.S. Federal Energy Regulatory Commission, the European Single Market Authority (ESMA), and the Australian Prudential Regulation Authority.

Advertisement

Wladimir P. is a Content Editor at European Gaming Media and at PICANTE Media and covers a large variety of industries.

Blockchain

This Week in Finance News: 11 Stories You Need to See

Published

on

this-week-in-finance-news:-11-stories-you-need-to-see

 

With thousands of press releases published each week, it can be difficult to keep up with everything on PR Newswire. To help finance journalists and consumers stay on top of the week’s most newsworthy and popular releases, here’s a recap of some major stories from the week that shouldn’t be missed.

The list below includes the headline (with a link to the full text) and an excerpt from each story. Click on the press release headlines to access accompanying multimedia assets that are available for download.

  1. Prosperity or catastrophe: #Insurance2040 study reveals four possible futures for the industry
    By 2040, technological innovation driven by customer centricity could pave the way to greater climate resilience and more personalized offerings by the insurance industry. Alternatively, insurance could become a luxury afforded only to the wealthiest few.
  2. Cardinal Health announces two strategic additions to its portfolio
    Cardinal Health will acquire a majority stake in GI Alliance (GIA), the country’s leading gastroenterology (GI) management services organization (MSO), from a combination of GIA physician owners and funds managed by affiliates of Apollo. Cardinal Health will also acquire the Advanced Diabetes Supply Group (ADSG), one of the country’s leading diabetic medical supplies providers, for approximately $1.1 billion in cash.
  3. BlackRock Launches New BUIDL Share Classes Across Multiple Blockchains to Expand Access and Potential of BUIDL Ecosystem
    This initiative represents the next step in the evolution of the tokenization market, by enabling BUIDL to be used within leading blockchain-based financial products and infrastructure across ecosystems.
  4. Primo Brands Corporation Announces Successful Completion of Merger of Primo Water and BlueTriton Brands
    “I believe Primo Brands is positioned to be a leader in the healthy hydration beverage category, thanks to the strength of its iconic, sustainably-sourced brands, its robust operations and extensive North American network, and its responsible operation of numerous springs across the country,” said Dean Metropoulos, Non-Executive Chairman of the Board of Directors of Primo Brands.
  5. Jackson Hewitt Tax Services Expands Workforce, Offering Job Opportunities Nationwide for Upcoming Tax Filing Season
    The week-long event will launch the combined hiring of 18,000 employees to prepare for the upcoming tax filing season. The Jackson Hewitt hiring events are open to the public and include on-site interviews. Qualified candidates could receive a job offer immediately.
  6. PNC Bank to Double Planned Branch Openings to More Than 200 Across Six States This announcement brings the bank’s total investment to approximately $1.5 billion to open more than 200 new branch locations in 12 cities across the U.S. over the next five years, while completing the renovations of 1,400 existing branches during the same time period.
  7. Alchemy Pay Expands Virtual Card Functionality with Google Pay Support The new card BINs added will significantly enhance the capabilities of crypto cards, expanding their support for a broader range of payment scenarios and improving transaction success rates. This advancement is particularly impactful when paired with Google Pay, one of the most popular and widely used digital payment platforms, trusted by millions for its convenience and security.
  8. Finaya Unveils Nationwide Homeownership Platform
    From providing rich and current information about home values and property conditions, to finding helpful repair and remodeling providers, to shopping for and securing the right insurance, the platform simplifies the homeownership process, making it more accessible, convenient and efficient.
  9. GenAI predicted to inspire revenue growth in 76% of businesses, but only 4% qualify as “leaders” in AI and analytics
    Kearney’s report confirms that businesses are not only aware of how big data, AI, and analytics will impact revenue generation and enhance business strategies, but they are investing to stay ahead of the curve, too.
  10. GameAbove Sports Acquires Meaningful Ownership Stake in Brisbane Bullets with NBA Legend George Gervin as Part of Ownership Team
    This move marks a significant milestone for GameAbove Sports, a CapStone Holdings Inc. company, as it expands its influence on international basketball ahead of the Brisbane 2032 Olympics.
  11. Most US shoppers are encountering generative AI while shopping without realizing it
    A survey of 700 online shoppers in the US shows 71% are unaware of having used generative AI while shopping online even though most had recently shopped at retailers currently using it. 41% of customers say they would feel comfortable using a generative AI tool from a brand they trust.

For more news like this, check out all of the latest finance-related releases from PR Newswire.

Do you have a finance press release to distribute? Sign up with PR Newswire to share your story with the audiences who matter most.

Advertisement

Helping Journalists Stay Up to Date on Industry News

These are just a few of the recent press releases that consumers and the media should know about. To be notified of releases relevant to their coverage area, journalists can set up a custom newsfeed with PR Newswire for Journalists.

Once they’re signed up, reporters, bloggers, and freelancers have access to the following free features:

  • Customization: Users can create customized newsfeeds that will deliver relevant news right to their inbox. Newsfeed results can be targeted by keywords, industry, subject, geography, and more.
  • Photos and Videos: Thousands of multimedia assets are available to download and include in a journalist or blogger’s next story.
  • Subject Matter Experts: Journalists will have access to ProfNet, a database of industry experts to connect with as sources or for quotes in their articles.
  • Related Resources: Our journalist- and blogger-focused blog, Beyond Bylines, features regular media news roundups, writing tips, upcoming events, and more.

The post This Week in Finance News: 11 Stories You Need to See appeared first on .

Continue Reading

Blockchain

Fintech as a Service Market: A Comprehensive Trends Analysis Predicts a USD 1,329.12 Billion by 2032 CAGR: 17.4% | PMR

Published

on

fintech-as-a-service-market:-a-comprehensive-trends-analysis-predicts-a-usd-1,32912-billion-by-2032-cagr:-17.4%-|-pmr
Continue Reading

Blockchain

Bybit Web3 Launches World’s Largest GameFi Playground at Crypto Ark-ade as GameFi Market Size Surges to $20bn

Published

on

bybit-web3-launches-world’s-largest-gamefi-playground-at-crypto-ark-ade-as-gamefi-market-size-surges-to-$20bn
Continue Reading
Advertisement
 title=
Advertisement

Latest News

Recent Listings

  • Global Payout, Inc.

    Since the Company’s inception in 2009, Global Payout, Inc. has been a leading provider of compreh...

  • MTrac Tech Corp.

    MTrac Tech Corporation, a Nevada Corporation, is a privately held, wholly owned subsidiary of Glo...

  • Net1

    Net1 is a leading provider of transaction processing services, financial inclusion products ...

  • uBUCK Technologies SEZC

    Based in Georgetown, Cayman Islands, uBUCK Tech is a fintech enterprise that specializes in digit...

  • LiteLink Technologies Inc.

      LiteLink is a major player in developing world-class enterprise platforms that utilize ar...

  • Good Gamer Corp.

      Good Gamer Corp. is a privately-held technology company focusing on gamers and streamers....

  • BitPay

      Founded in 2011, BitPay pioneered blockchain payment processing with the mission of trans...

  • About Net1

      Net1 is a leading provider of transaction processing services, financial inclusion produc...

  • Blockchain Foundry Inc.

    Headquartered in Toronto, Canada, Blockchain Foundry (CSE:BCFN)(FWB:8BF)(OTC:BLFDF) is a global b...

  • Sixgill

    Sixgill provides a full suite of universal data automation and authenticity products and services...

Trending on TBE