Our idea – is to create a new type of blockchain framework, that will work simultaneously on top of existing blockchains (BTC,LTC,DASH,ZCASH,XMR, etc).
It will also use different node APIs (Blockcypher.com, Blocktrail.com, Matbea.net and etc) at the same time to avoid any kind of centralization and risk of malfunction of single node API service.
Using this framework we plan to create blockchain apps, one example is to create Investor-Management relationship ecosystem, bringing more transparency for public companies.
HashBon — blockchain framework
- Blockchain applications
- Different programming languages: PHP, Java and more
- Bitcoin, Litecoin, Dash blockchains
- Smart contract libraries
- Reliability, convenience, cost-effectiveness
- Blockcypher, Blocktrail, Matbea.net APIs
This is a Lego constructor for building any blockchain application that works on top of blockchains that already exist - bitcoin, litecoin, dash, zcash, monero, etc that have proven their reliability and that have sufficiently high protection level against the "51% attack"
Why use the framework?
1) Reliability and fault-tolerance. - using several different blockchains at the same time to save smart contracts gives higher reliability in comparison with using only one blockchain. In addition, the framework will be a unified language (wrapper) for simultaneous work with several APIs such as blockcypher, blocktrail, blockchain.info, etc.
2) Convenience- Hashbon framework is the interface between blockchain applications and blockchains. Developers will receive a universal language for programming different blockchains.
3) Cost-effectiveness- in some periods of time commissions in one particular blockchain can be very high. Our framework can intelligently choose those blockchains where it is cheaper to record information at the moment.
SYSTEM OF FINANCIAL REPORTING FOR PUBLIC COMPANIES THAT USES BLOCKCHAIN
After development of framework, we want to use it to create business applications. One example of such applications is automatic preparation of financial statements along with hashing them in blockchain.
The implementation of blockchain financial reports system increases capitalization and value of the business by making it more transparent and less risky for public investors.
This creates incentives for shareholders and management to implement this application. If public company costs 1 billion euros, and its value grows by 3% (realistic estimate), the effect of the implementation will be 30 million euros. And if it costs 30 bln euros - benefits of implementation will be 1 bln euro. Naturally, public companies that are already including in their budgets the costs of improving the relationship with investors will go for the implementation of the blockchain in the reporting system.
Why do you need blockchain to solve this problem?
Public blockchain gives a 100% level of transparency and is also protected from changes. The use of this technology will significantly complicate the possibilities to manipulate financial reporting.
ADVANTAGES OF USING BLOCKCHAIN SHAREHOLDER RELATIONSHIP MANAGEMENT
Great opportunities for communication of shareholders
among themselves Each shareholder, depending on the number of shares, can participate in the life of the company: vote, put forward ideas and demands, request financial reporting documents, meeting minutes, appoint shareholders meeting and other. All this is done in a few clicks.
High data confidentiality
Access to data can be controlled on a separate account, as well as automate the granting of certain rights depending on the number of shares owned by the user.
Data can be generated for any period of time, even for the previous day, without waiting for quarterly reports. Reports can not be changed retroactively.
Transparency of the data source in reports
The data received by our platform, stores inside the ultimate amount of detailed information on a source. Data can be assigned to a separate accounting operation with a unique number.
Formation of financial statements for any period of time
The expenses that the company spends on organizing the general meeting of shareholders, reach quite large sums. A single platform of relationships between shareholders will reduce these costs.
Solving problems that arise between shareholders and company management
It will allow the company to learn immediately how their decisions are evaluated by the shareholders, until it is too late, before the complaint of the shareholders.
More profitable relations with shareholders
Interaction with shareholders can help companies gather information about investors' problems and make informed decisions that meet the company's interests with respect to these problems.
The cloud part of the system and the distributed database provide the work of the platform without a single point of failure.