If you have ever dealt with cryptocurrency accounting, you know that it’s not the easiest thing to do. There’s spreadsheets everywhere, some don’t have all the needed info, some are in the wrong timezone, and some show wrong numbers.
Those frustrations is what Blox tries to solve with its user-friendly solutions. While cryptocurrency has filled an empty niche for self-governed financial products, it has done so at the cost of being too complex to comprehend at the entry level.
By partnering with Blox, æternity, a scalable smart contract platform connecting blockchain to real-world data, aims to ease its users’ dealings with crypto tracking, accounting and tax preparation. Industry pioneers such as eToro, Zilliqa, and Dash, are already using Blox to better the management of their customers’ crypto assets.
“Blockchain technology is expanding at an astounding speed, which introduces unique back office, accounting, and tracking challenges. It requires accurate, secure, and innovative technology and Blox offers a great solution,” said Emin Mahrt, Board Member for the Aeternity Crypto Foundation.
Aided by æternity, Blox now controls a dedicated node of the blockchain. Using that, they fetch and aggregate user information directly into Blox, providing æternity users with a bundle of tools to help them better manage their digital assets.
More specifically, Blox’s platform helps investors and businesses with tools such as auto account syncing, cost basis calculator, transaction tables, and collaboration tools.
Alon Muroch, CEO and co-founder of Blox, commented on their commitment to helping solve crypto management problems for individuals and businesses alike:
“Most companies today are unsure of how to start accounting for their crypto assets. We built a powerful product that is flexible, automated and compliant, meaning anyone can benefit immediately when they account for crypto or when preparing crypto taxes. This improves finance operations and protects your business’s bottom line.”