Blox.io, a platform for cryptocurrency management, accounting, and cost basis, announced on Monday the launch of its integration with the æternity protocol, which is a scalable smart contract platform that enables interaction with real-world data. According to Blox, the new integration will provide æternity users with smart tools for crypto tracking, accounting and tax preparation.
“The current complexities of cryptocurrency technologies, coupled with a lack of institutional guidance for its accounting and taxation in many jurisdictions, has created an industry need for companies and blockchain businesses. The volume of transactions and cryptographic nature of the technology has created a challenge for businesses in need of tracking their digital assets, organizing their accounts and accurately calculating their profit and loss.”
While sharing more details about the integration, Emin Mahrt, Board Member for Aeternity Crypto Foundation, stated:
“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.”
Alon Muroch, CEO and Co-Founder of Blox, then added:
“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.”
Established in 2017, Blox claims to be an industry-leading platform that provides crypto tracking, management, and accounting solutions for professionals and businesses. Customers of the platform include eToro, 0X, Dash and thousands of global users.