Vakaxa solutions and technology applications in accounting – finance to help reduce errors, prevent data changes and high-security prestige in Vietnam.
Potential of Blockchain technology applications in accounting – finance
Defined as an open and decentralized ledger, Blockchain technology has the ability to record and verify transactions without third-party. The technology exists as a file to store many of the recorded transactions called blocks. Each block contains a timestamp and a sequence of numbers that lead to the previous block or “fingerprint”. Blockchain is designed to disable data modification and cannot be retroactive.
The potential of Blockchain is the ability to create an accounting book that records all transactions, in which all participants have an identical copy, accessible and viewed in real time. Instead of independent data storage and management companies, Blockchain automatically records both transaction information simultaneously in a public ledger. With the ability to record real-time transactions, Blockchain is ready to end traditional accounting methods including invoicing, document provision, contract building, payment recording for large and small businesses.
Some applications of Blockchain technology in accounting – finance:
- Audit evidence can be tracked;
- Automatic auditing process;
- Authentication of transactions;
- Tracking property ownership;
- Smart contract;
- The registration and inventory system for all assets, from raw materials to intellectual property
Like most technology initiatives, Blockchain in accounting greatly reduces the possibility of errors when comparing complex and different information from different sources. Moreover, the accounting records will not be repaired, changed once they have been saved to Blockchain, even if the owner of the accounting system requires it. Because on the Blockchain platform, every daily transaction is recorded and authenticated, so the integrity of financial records is guaranteed. In addition to the impressive capabilities mentioned above, this technology also has the ability to reduce or even eliminate the need for resource audit and accounting profession in general.
The company provides Blockchain technology applications in accounting – finance
We have a team of experienced analysts and programmers who have come up with solutions, developing Blockchain applications in deploying Blockchain technology applications in accounting and finance.
Vakaxa will provide blockchain solutions and application models for all businesses in accounting – finance, or customer requirements in other areas.
- POC Development (Demonstration of Capacity): POC development helps demonstrate the feasibility and practical potential of Blockchain projects in all areas such as election, insurance, and health. POC can be considered as a prototype used for organizations to better understand their projects.
- Developing a personal Blockchain system: Personal Blockchain networks are more highly valued than public Blockchain in terms of speed and security. It is evaluated as the most potent method to improve the efficiency of the transaction and payment process.
- Smart Contract (Smart Contract): Smart Contract was developed to provide security and reduce transaction costs by automating processes and minimizing interference of human.
- Development of cryptocurrency: Our Blockchain technology can develop cryptocurrencies like Bitcoin, Ethereum, EOS or a completely new cryptocurrency at your request.
- Develop supply chain: Blockchain is applied in the supply chain so that the transaction process becomes transparent. All transactions will take place more securely thanks to peer-to-peer networking and no third-party intervention.
- Blockchain technology advice: Blockchain technology is the most advanced technology today and affects the entire economy. We are always ready to advise, support and provide solutions and professional Blockchain applications.
Why should you choose Vakaxa?
Vakaxa is a leading company providing solutions and application of Blockchain technology today, helping businesses manage and operate effectively.
- Experienced development team: With an experienced development team, Vakaxa is committed to providing effective solutions in the field of Blockchain.
- Providing diverse services: Providing flexible and effective Blockchain solutions suitable for all business models.
- Providing maximum benefits to customers: Vakaxa offers outstanding services, competitive prices, and integrity, commitment to safety and security.
Application of science and technology is an inevitable trend in daily work, especially those that always require quickness and accuracy such as Accounting, Auditing, and Finance, Banking. Vakaxa is proud to bring to companies and enterprises the most perfect solution in business management, accounting, and accounting to help businesses improve production and business efficiency, service quality and increase their capabilities. Competitiveness for businesses.
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