Our team’s objective is to design and develop a cutting-edge platform tailored for streamlining accounting processes within the blockchain ecosystem. By combining expertise in functional platform development and accounting automation, our team seeks to create innovative solutions that bridge the gap between the blockchain world and traditional accounting systems.
Research Papers
Functional Platform :
In the functional platform domain, prior work has explored basic Oracle functionalities and their integration with blockchain applications. An oracle was developed as well as a website to inform about the oracle use. Furthermore, users have the option to register off-chain via the website and directly engage with the Oracle by connecting their MetaMask Wallet.
Accounting:
Accounting automation for cryptocurrencies transactions
How to build an interface that connects a smart contract to a classic accounting tool
July 6th 2023
Abstract
Traditional double-entry bookkeeping is the base of today’s accounting. Despite its impact on the business world, it is vulnerable to manipulation and because of its nature, as well as its lack of standardization, it is also time-consuming and error-prone. The combination of the double-entry bookkeeping method with blockchain technology is called triple-entry bookkeeping. It could be a possible solution for the addressed problems, by providing a decentralized and transparent system with tamperproof transaction records and partwise automatization.
The following paper emphasizes the importance of double-entry bookkeeping for accurate financial reporting and highlights the limitations of manual accounting systems. It briefly introduces blockchain accounting, related topics, and a summary of the Swiss accounting software Banana+. Furthermore, the report discusses Swiss accounting standards applicable to companies utilizing blockchain technology by covering Swiss Value Added Tax (VAT) and corporate income tax. Finally, it proposes a Python-based interface solution, which connects blockchain transactions done on the Polygon Testnet with the accounting platform Banana+. The code facilitates the exchange rate conversion of blockchain transactions into Swiss francs and provides tax calculations. Detailed instructions for modifying and executing the code are provided. The outcome of the code execution is three CSV files that can be imported into the accounting software Banana+, intending to make blockchain transactions accountable.
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