Blockchain ledger or distributed ledger is an emerging technology that stores asset (or resource) activity in a shared database on a public or permissioned network. The blockchain ledger has a few principles that are also important to our IQAccountant Resource Activity Tracker solution. Here are a few:
- Asset or resource activity is tracked in a ledger structure: besides the bitcoin fame, seafood telemetry and financial securities issuance and trades are other solid use cases for the ledger structure.
- Data requests can approach near real-time.
- The ledger replaces multiple data silos that have their own rules and complexity.
- Transactions are linked to form a complete view of the asset activity.
Our Resource Activity Tracker solution also uses a ledger structure to capture resource activity like cash activity across multiple financial data silos; the cash activity is linked to detailed transactions for a complete view; and then it is accessible for real-time analysis or reporting by the end-user. Cashflow analysis and reporting is one solid use case for the Resource Activity Tracker but like the blockchain ledger, there are more use cases to discover. If you are interested in finding out more or want to join the conversation, please reach out to Noel@IQAccountant.com.
