Earlier this year we launched a Blockchain practice at Armanino LLP. We did this because we firmly believe blockchain technology and crypto assets have the potential to become a high impact innovation that brings value and security to businesses. The underlying distributed ledger technology offers businesses the opportunity to increase trust among customers, vendors, and third parties through transparent, secure, and immutable transactions.
We were fortunate to start with a broad bench of existing blockchain clients. For many years we have worked with the who’s who of this new technology field in audit, tax, and consulting capacities. It, therefore, became a natural act to partner with these clients in developing new solutions and tools to address the unique opportunities blockchain offers.
Today we offer a full spectrum of solutions for the assurance, tax, and system needs that businesses operating in the digital asset space are faced with. We are also assisting non-blockchain native companies in taking the first steps in this new exciting field. Often that includes a secure 'Cryptocurrency On-Ramp’, and end-to-end accounting and tax system driven solution that enables our clients to transact in digital assets in a secure, compliant, risk minimized and automated way.
Earlier this year, we partnered with our CFO organization to enable Armanino to safely accept over 1,000 cryptocurrencies as a form of payment from clients.
One thing we did not anticipate was the level of enthusiasm amongst our millennial talent pool. The interest, excitement, and desire to learn more has been astonishing. Most of our Blockchain team today is comprised of professionals who have a background in one of our existing service and industries with a deep understanding and passion for blockchain technology.
An environment entirely built around 'a single source of truth' is a game-changer if you are in the trust providing business. We think of this technology as a massive opportunity in enhancing the role assurance and audit offers. This requires building new solutions. Over the past few quarters, we have developed proprietary blockchain security review and monitoring software tools. These tools help us bridge the gap between digital transactions (on-chain) and non-blockchain recorded transactions. We have also extended the firm's proprietary block explorer and associated audit tools to a cloud-deployed solution which can be utilized internally or by clients, including virtual currency exchanges (VCEs), custodians and high-volume digital currency companies.
We are dedicated to being forward-facing and ensuring we are prepared to meet the ever-changing needs of our clients in every industry. Blockchain is here to stay, and we aspire to enable our clients to unlock the value of this technology to its fullest potential.
Contributed by Andries Verschelden with Armanino LLP (Andries.Verschelden@amllp.com)
To learn more about Armanino’s full Blockchain practice offering, visit:
https://www.armaninollp.com/industries/cryptocurrency/
https://www.armaninollp.com/services/blockchain/