DALLAS, Feb. 5, 2020 /PRNewswire/ -- Hedera Hashgraph, the enterprise-grade, public distributed ledger platform, has announced a strategic partnership with Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S. The partnership allows Hedera ecosystem participants to leverage Armanino's DLT assurance technology platform, TrustExplorer, and its new Trusted Node data service for a reliable source of transaction and account data.
Lionel Chocron, Chief Product Officer of Hedera Hashgraph, said, "Distributed ledger technology has the power to introduce unprecedented transparency, security, and performance to a myriad of industries; however, for ecosystem participants and their auditors, interacting with DLTs and extracting their data can present significant inefficiencies. Providing a scalable and efficient DLT network means ensuring that everyone, from our developers to our large-enterprise adopters, can easily track their own data on the network to be audited."
With industry-standard trust mechanisms, the Armanino Trusted Hedera Mirror Node service offers Hedera ecosystem participants and their financial statement auditors relevant and reliable sources of information for balance sheet accounts with material activity in Hedera's native token, the HBAR.
Andries Verschelden, Armanino partner-in-charge of Blockchain, said, "Putting data on blockchains and distributed ledgers offers great promise; however, making that data usable is hard. We believe there can be no mainstream adoption without enterprise-grade trust mechanisms. Today, we are building more trust and transparency with key partners and providing real tools to facilitate adoption. Our TrustExplorer platform, and all its applications, were designed from inception to be compliant, with a robust and auditable control environment."
Armanino's TrustExplorer will be audited by a third-party independent accountant under the American Institute for Certified Public Accountant's system and organization controls (SOC) reporting standard.
Chocron concluded, "Hedera will be the future of the decentralized internet. This goal ultimately requires fast, effective routes to auditability and regulatory compliance. From an individual investor completing a tax return, to a large enterprise demonstrating regulatory compliance, Hedera continues to prioritize these efficiencies to ensure the scalability and realistic useability of the network."
For more information about the partnership, click here.
About Hedera Hashgraph
Hedera is a decentralized public network where anyone can carve out a piece of cyberspace to transact, play, and socialize in a secure, trusted environment. Developers can build secure, fair, blazing-fast decentralized applications on top of the Hedera platform. Co-founders Dr. Leemon Baird and Mance Harmon invented and developed the groundbreaking hashgraph technology after working at the United States Air Force Academy and as founders of Trio Security, BlueWave Security, and Swirlds, Inc.
For more information, visit www.hedera.com, or follow us on Twitter at @hashgraph, Telegram at t.me/hederahashgraph, or Discord at www.hedera.com/discord. The Hedera whitepaper can be found at www.hedera.com/whitepaper.
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About Armanino LLP
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.
SOURCE Hedera Hashgraph