Hedera Hashgraph, the enterprise-grade, public distributed ledger platform, has entered in a strategic partnership with the US business consultant giant Armanino to allow Hedera ecosystem participants to use Armanino’s DLT assurance technology platform, TrustExplorer.
In February 5th press release announcing the move, Hedera said that this partnership would allow Hedera ecosystem participants to leverage Armanino’s TrustExplorer, and its new Trusted Node data service for a reliable source of transaction and account data. This will enable developers and enterprise adopters of Hedera to easily track their data on the network to be audited.
The public DLT platform further said that this partnership would provide ecosystem participants an industry-standard trust mechanisms, called the Armanino Trusted Hedera Mirror Node service that would allow auditors to extract the most relevant information for balance sheet accounts with material activity in Hedera’s native token, the HBAR.
Armanino LLP, based in California, founded in 1953, is one of the 25 largest accounting and business consulting firms in the US. The Armanino’s Trusted Node services is a blockchain-based data service that aims to lower the burden on ecosystem participants of hosting their own full, archival or mirror nodes, as well as increase access to much needed transactional and wallet balance data.
Armanino TrustExplorer’s Trusted Node services is subjected to audit by an independent third party accountant under the American Institute for Certified Public Accountant’s system and organization controls (SOC) reporting standard to give users of the services and auditors a comfort over the services.
Andries Verschelden, Armanino partner-in-charge of Blockchain, stated:
“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.”
Lionel Chocron, chief product officer of Hedera Hashgraph, sharing similar words, 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.”
Hedera’s public distributed ledger platform is gaining some popularity as Crypto Economy reported that blockchain-based healthcare company Acoer was using Hedera’s platform in its Coronavirus Hashlog to offer researchers real-time data acquisition for Coronavirus trends.