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Blockchain

Blockchain Onramp Infographic

Blockchains are transformational networks that make up the foundational layer of the inevitable Web 3.0. Our Blockchain team helps you future-proof your organization for this evolution. We design and implement the right solution stack allowing you to minimize risk while maximizing security.


Our Approach

Cryptocurrencies are the native digital assets (money) of the internet. Blockchains are autonomous, open, decentralized global networks. These networks enable global digital marketplaces where businesses and people transact in a direct and safe way. Armanino is your partner to bridge the gap between the idealistic potential of blockchain and the reality of your daily operations.

What We Do

We understand the unique challenges faced by businesses looking to integrate blockchain technology into legacy systems. Our team offers a full range of specialized services to help organizations gain the full breadth of benefits that blockchain has to offer.

Blockchain Discovery

Blockchain Discovery

We help you understand what this technology is and isn’t. There are a variety of different use cases for blockchain technology across industries. We identify tested and tried business solutions that fit your specific business case.
Cryptocurrency On-Ramp

Cryptocurrency On-Ramp

We understand the unique challenges faced by organizations looking to understand the impact of cryptocurrency on their business. Our team future-proofs your organization for the age of digital assets.

Cryptocurrency Payment Enablement
We set up a best-of-breed software environment that enables you to safely accept and make payments using cryptocurrencies.

Cryptocurrency Accounting System Implementation
We help you implement and optimize digital asset accounting and payment systems that interact directly with the applicable blockchains. We help create technical accounting policies, internal controls and process flowcharts for digital assets, while considering the tax implications throughout to prevent surprises at year-end.

Digital Asset Custody
We facilitate the custody solution selection and implementation, and document key controls and policies for safeguarding digital assets.

Security & Risk Testing
Digital assets on the balance sheet, high-volume digital currency transactions, custodial holdings, smart contracts and enterprise blockchain environments require an audit approach and technical understanding that is not common in the market today.

Armanino was among the first to complete financial statement audits for clients with high transaction volumes of on-chain and off-chain digital assets. To fulfill the technical audit procedures needed to cover existence and ownership of digital asset balances, as well as transaction testing, we have developed our own blockchain explorer tools.

Trusted Node as a Service

Trusted Node as a Service

We host nodes in a controlled, permissioned environment and expose that data to approved third parties through REST API and Explorer tools. We place industry standard compliance controls and reporting (e.g., SOC 2) around these services to provide data that financial statement auditors, regulators and other approved parties can rely on. Armanino’s Trusted Node as a Service provides an efficient solution for blockchain operators, consortium members and ecosystem participants who require third-party assurance regarding the security, availability and data integrity of both public and permissioned chain data.

TrustExplorer – Real-Time Assurance

TrustExplorer – Real-Time Assurance

TrustExplorer is an Armanino-owned and -controlled software solution that offers asset-backed token projects and their holders a new level of trust and transparency. It is the first and only solution in the marketplace offering real-time reporting for token issuers and users. Armanino’s proprietary solution does not rely on third-party blockchain data services. Instead we host and control our own public blockchain nodes to query the circulating supply of a given stablecoin every 15 seconds. The TrustExplorer system also leverages a robust REST API gateway that can support multiple financial institution connections to obtain real-time data from trust companies and banking partners. The result is a solution that breaks the mold, offering a level of transparency never before possible.



Our Team

Practice Leaders

Noah Buxton

Director

Jeremy Nau

Manager

Clayton Lowery

Senior Consultant


Related Experts

Resources

Real-Time Attest Reporting
Use of information technology to obtain audit evidence in real time, apply substantive testing to audit evidence, and issue real-time, independent accountants’ ...

Crypto Tax Solutions In Light of the Recent IRS Guidance

With the IRS now fully engaged in collecting what they believe they’re owed on past, present, and future crypto transactions, it’s time to look at ways to mitigate the tax burden.

IRS Releases First Crypto Tax Guidance In 5 Years

On October 9, the IRS released tax guidance on cryptocurrency.

How to Start Using Cryptocurrency in Your Business: 10 FAQs for CFOs

Cryptocurrency is becoming more mainstream. As a CFO, how do you decide when to start using cryptocurrency in your business? What do you need to be aware of before you do? In this article, you’ll find 10 common FAQ ...

Security Token Offerings: They’re Not Just the New ICO

The paradigm-shifting value of blockchain technology and tokenization for securities will come when the tech is applied to private offerings and secondary markets.

Get Ready: Blockchain Will Transform the Legal Industry

Blockchain is poised to dramatically change the legal industry as we know it. Is your firm ready to transform everything from how you get paid to the types of services you offer?
Blockchain & Crypto Resource Center Thumbnail
Crypto Content library: List of articles and resources for those looking to go down the crypto and blockchain rabbit hole.

Evaluating Crypto Accounting Solutions

Armanino's practical guide helps management understand the factors that should be considered when reviewing crypto accounting solutions.

Does Your Block Need a SOC?

Blockchain technology offers individual organizations the opportunity to drastically change the way in which they trust and transact with others. Learn more in Armanino's guide to understanding the role of third-part as ...

Key Considerations for Audits with Digital Assets

Armanino's practical guide helps management understand the factors that play into audit scoping considerations, as well as provide some insight into how we audit and share best practices.

Video Resources

What Are Blockchains

Blockchain technology may seem elusive and not relevant to your organization. But it has the potential to bring you marked efficiencies, competitive advantages and future growth.

What Are Digital Assets

In a blockchain world, digital assets are currency. As organizations move toward using blockchain technology, the role of digital assets comes into play. Cryptocurrencies like bitcoin are just one of many potential applications.

How do I Start Transacting in Cryptocurrency

Should your organization start transacting in cryptocurrencies like bitcoin? Blockchain technology and cryptocurrency payments are growing in popularity, and with this comes a whole new world of finance and accounting.

TrustExplorer – Real-Time Attest Powered by Armanino

TrustExplorer is the first real-world step in a move to deploy real-time auditing, backed by immutable trust, in any engagement. Instead of relying on “point-in-time” reports that are stale as soon as they are distributed, real-time audits will ensure information is always current and relevant

Blogs

December 11, 2019

20 Predictions for Blockchain and Crypto in 2020

We’re privileged to work day in and day out with companies and individuals on the forefront of blockchain tech and digital asset use cases. This ex...

June 24, 2019

What Libra Means for Your Business

Libra Blockchain – The Future Is Now The unveiling of Facebook’s cryptocurrency, Libra, stands tall in a line of landmark moments in the tech...

June 24, 2019

Libra Basics – What you Need to Know

A Network Effect Throughout history, money — whether it’s rare shells, gold, notes or bits of data — is only money when a network effect enables pe...

April 02, 2019

Armanino TrustExplorer: A Software Solution for the Future of Digital Assets

For some time now we have been asking ourselves, what does the future of trust and transparency look like with increased adoption of digital assets...

March 18, 2019

The Problem With ‘It’s Blockchain But Not Crypto’

As we build our new Blockchain practice, I keep on hearing the phrase “it’s blockchain, but not cryptocurrency” in an attempt to satisfy business a...

March 05, 2019

Debunking Common Misconceptions About Auditing Digital Assets

When talking with audit professionals, we have noticed a few misconceptions about auditing digital assets that are worth discussing. The most promi...

May 21, 2018

How Blockchains Achieve Consensus: Proof of Work vs. Proof of Stake

The use cases for blockchain are now being recognized as a truly viable option for future technologies. This stems from its inherent characteristic...

April 06, 2018

The Current State of U.S. ICO Compliance

As the SEC has yet to make an official ruling or create a governance entity to oversee ICOs (initial coin offerings) or TGEs (token generating even...