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Xriba
Website:
Status:
Archived ICO
Token:
XRA
Start:
21-03-2018
End:
20-04-2018

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Comments

Xriba 01 Jan 1970 03:00

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Bringing transparency and accountability to cryptocurrency and business.

Xriba is the first protocol to add transparency to corporate cash flows, making them available on the public Blockchain.

Pillars of accountability and transparency.

TOKENCHECK FOUNDATION
The TokenCheck Foundation is a group of organizations dedicated to establishing accountability and transparency in the Blockchain sector. Xriba powers the financial transparency of TokenCheck Foundation clients and provides smart contracts for accountability. The foundation performs financial audits to check whether released funds have been used appropriately, and technical audits of code and other products to check whether milestones have been reached.

MILESTONE BASED FUNDS RELEASE
To foster accountability funds collected during token sales are distributed to the company in tranches and linked to the achievement of milestones. A schedule detailing the milestones in question and the amount of funds to be released will be proposed by the fundraising company and detailed in their whitepaper. The funds release schedule is reviewed by the community, which is similar to the current token distribution model, and written into the smart contract for token sales . When the company indicates a milestone has been reached, a technical and financial audit is performed before the next tranche of funding to use in working towards the next milestone is released.

AUDIT REPORTS & TRUST RATINGS
Financial and technical audits will be performed before further tranches of token sale funds are distributed to the company, and published for full transparency. reports purchased will be scored on a scale of 0 to 100. Achieving a score of eighty or higher will unlock the next tranche. Scoring 70-79 will unlock 1/3 of the next tranche to allow for unprecedented success. Many users complain that there are not enough objective company metrics available in the Blockchain sector, by using audit reports we aim to provide an independent source of information about companies and their progress.

CORPORATE CASHFLOW DASHBOARD
Once funds have been sent for a token sale contract, there is little transparency, contributors have no view into how the company uses the funds. The Funds Transparency Dashboard is a solution which allows the community real-time visibility into the company's bookkeeping. Several methods are applied:
- Blockchain;
- Artificial Intelligence
- OCR (Optical Character Recognition)
- Mechanical Turk
- Decentralized wallet.

AI Technology
Accountants, auditors and lawyers dedicate a great deal of time classifying documents and carrying out administrative tasks. Artificial Intelligence will support companies and their teams to reduce the time and cost of these tasks.

Blockchain for companies
Xriba will hugely reduce the time required to transfer financial resources between companies, and above all make accounts management simple, swift and secure. Our ambition is to modernize company banking services by automating bookkeeping Xriba is the new decentralized payment system in the blockchain.

OCR - Optical Character Recognition
Accounts automation. Thanks to our optical scanning software, which automatically reads and processes invoices and other documents, the time used for payments will be slashed by 72% over the year.

Mechanical Turk
Human Intelligence through API. The OCR system is supported by a team who monitors the process, therefore automating the entire bookkeeping procedure whilst maintaining integrity.

Decentralized wallet
Only the account holder will be able to process payments directly through cryptocurrency, avoiding payments via a centralized account. This will help creating a safe and secure company deposit account.

DISCOVER MORE ABOUT XRIBA:
Official Site: https://xriba.com/
Telegram: https://t.me/xriba
Facebook: https://www.facebook.com/xribaofficial/
Twitter: https://twitter.com/xribaofficial

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Only users that are authorized via telegram can leave comments.

CunninhamB 17 June 2018 10:26
The principle is understood, normal project. Accounting industry must be transparent.
Petrec 27 June 2018 16:11
A very young project on the way. Waiting for the opportunity to participate.
JO0Joos1 06 July 2018 21:39
Transparency is the main feature - it's understood. What about speed of transactions?

Information

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.

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