On-Chain Auditing
Bitcoin SV natively tracks every transaction, compliantly, on-chain.
“Ledgers based on triple entries which provide the same reliable accounting between firms that double entry provides inside the firm.”
International Journal of Auditing Technology (Grigg et al., 2017)
Auditing is a tedious job, more so for big companies that have thousands of clients. The biggest pain point is in verifying all the financial data that the auditor has to sort through. Fortunately Bitcoin SV can solve this challenge, by allowing all parties, and their auditors, to easily verify all data they handle.
This data, stored on-chain the Bitcoin SV blockchain, forms an evidence trail that can be used to spot anomalies, for example within the gambling or gaming sectors, that allows for the effective investigation of foul play and thus giving players an unprecedented level of confidence in game results.