Xriba has developed a protocol, accounting applications and various tool- sets to address the ambiguity in evaluating cryptocurrency companies from a financial perspective; Providing cryptocurrency companies and traditional companies alike a framework for remaining transparent and accountable to their investors, supporters, and the open market. Xriba has developed an open accounting protocol called the “Xriba Protocol” to record financial transaction records on a public decentralized ledger. This is revolutionary for the accounting industry and creates a decentralized method for saving archiving, and querying financial transaction records. The Xriba Protocol includes an open API that allows any third-party company to build their own accounting applications or tools on top of.
Xriba was created to bridge the traditional financial frameworks with that of the Cryptocurrency Market and to bring an increased level of transparency and accountability to all markets.
In traditional businesses, when companies receive investment and startup capital they are subject to an increased level of transparency and accountability. Traditional businesses remain transparent and accountable to their investors and supporters by releasing quarterly statements, working hand-in-hand with investors maintaining clear communication of road maps and timelines, taking advice and input from investors and other applied tactics. Each traditional company works differently, but a common denominator that they all have is quarterly statements that inform their investors and supporters of their current financial standings.
This accountability and transparency is completely missing from the cryptocurrency space. Nearly all cryptocurrency companies fail to produce quarterly statements and rely on their marketing team’s tactics to convey the companies current standing to both their investors and the public. This creates a transparency problem in the cryptocurrency space and makes it very difficult to properly evaluate a cryptocurrency company. The current method of evaluating a cryptocurrency company is very subjective and leaves much room for interpretation.
Xriba has developed a protocol, accounting applications and various toolsets to address the ambiguity in evaluating cryptocurrency companies from a financial perspective; Providing cryptocurrency companies and traditional companies alike a framework for remaining transparent and accountable to their investors, supporters, and the open market.
Xriba is a next generation accounting protocol that provides transparency, accountability and bookkeeping services to cryptocurrency and traditional businesses.