Algorand, the world’s first open-source permissionless blockchain is leveraging verady’s legible blockchain to provide auditing and accounting of its asset and also provide this to partners. Holders of the algorand token will also enjoy this benefit as verady is integrating ALGO- Algorand native token into its software.
This shows how important and highly needed verady’s legible platform is to the cryptocurrency space as it provides accounting and auditing using blockchain technology rather than the traditional technology
Kell Canty, co-founder, and CEO of Verady said:
“Verady is determined to help move the cryptocurrency industry forward with advanced, secure, and intuitive reporting tools. In a rapidly changing economic landscape, we’re glad to work alongside leaders in the industry to make crypto more accessible.”
According to W. Sean Ford, COO of Algorand:
“One of Algorand’s goals is to enable enterprises to easily embrace the opportunity that blockchain provides, Broadly applicable financial reporting tools like legible accounting further that goal. We’re excited to partner with Verady to not only account for our own assets, but to provide legible accounting to our partners who are helping to develop and grow the Algorand blockchain.”
This demonstrates Algorand’s sincere commitment to providing the best for its users and partners by achieving its goals and objectives which includes enabling enterprises to easily embrace the opportunity that blockchain has to offer.
What is Verady
Verady is a blockchain project that possesses a ledger-based type of blockchain used for comprehensive cryptocurrency accounting, tax, and audit of cryptocurrency companies.
Verady has the vision to make accounting and auditing of cryptocurrency companies very easy with its legible blockchain. It also has the vision to provide solutions to cryptocurrency tax reporting and compliance. Another vision is to be a bridge that connects cryptocurrencies and traditional financial accounting.
How it works
Verady works By simply integrating its legible blockchain into exchanges and blockchains to get quality data. This allows their partners to use this data by connecting it to their platforms to have quality financial statements provided.
- Thomson Reuters
- Cohen and co
Legible accounting is built based on the expertise and feedback of industry leaders. It helps to manage users, monitor transactions, discover assets from airdrop and fork based on your portfolio, detailed reports on your portfolio. It can also be integrated into an existing Ledger.
Pros of legible accounting
- Export transactions
- Get a fully detailed wallet balance
- Calculate gains and losses
- Detailed exchange report
- Full Analysis
- Bronze plan – it costs $49/month, it is made for individuals and small organizations with access to 10 wallets, 3 exchange connections, and 3 system users and it has a 1-month historical reporting
- Silver plan – it costs $149/month, it gives you access to 20 wallets, 7 system users, 7 exchange connections, third-party accounting integrations and it has a 3 months of historical reporting
- Custom plan – this is made for enterprises with more users, wallets, and exchange connections. it doesn’t have a specific price as the name implies. Pricing is based on enterprise requirements
The legible audit gives an adequate full examination and reports on the financial status of an asset, exchange, or blockchain. To certify that it is trusted, verady has completed an AICPA-accredited System and Organization Controls (SOC) audit for its organization
Pros of legible audit
- Detailed Historical Balance and Activity reporting capabilities for all audit data
- Message Signing and Ownership Verification services for supported blockchains and crypto assets
- Full historical querying capability for supported blockchains and crypto assets
- Full support for Segwit addresses in all legible audit tools and processes
List of Some Supported blockchains and exchanges
- Algorand (ALGO)
- Ethereum (ETH)
- Bitcoin (BTC)
- Dash (DASH)
- Eos (EOS)
- Stellar (XLM)
- Monero (XMR)
Legible tax is built based on the expertise, experience, and feedback from pioneering work in the world of accounting for Blockchain assets and Cryptocurrencies. Verady recently partnered with the world-leading Thomson Reuters company so as to provide the best service to users.
Pros of legible tax
- Full tracking and management of the team
- Full tracking and management of client
- Management of client report
- Directly Bringing tax information to your Thomson Reuters platform
The Algorand blockchain is a secure decentralized permissionless pure proof of stake open-source blockchain with the main purpose of developing concepts and reasonable ideas into usable products. It is backed by the algorand foundation; a group of people having past work experience in different parastatals with the vision of achieving a borderless economy through a permissionless blockchain.