Libra, a provider of compliance, audit, and integration solutions for blockchain technology and digital assets, has announced the debut of an enterprise solution.
In 2014, the California-based software developer released its first product, a software suite permitting individuals and small businesses to comply with IRS regulations and file returns reporting bitcoin and other cryptocurrency transactions. In January 2016, Microsoft accepted LibraTax suite as one of the first apps in Azure’s Blockchain-as-a-Service program.
Libra management stated in the announcement that it was developing new solutions while many in the cryptocurrency space have shutdown or pivoting:
“While others are changing course or closing shop, Libra successfully continues to build on it’s brand and flagship tax solution… navigating the course we set out from the beginning: to build professional grade software for distributed ledger systems. We’ve extended our capability to layer on top of new protocols, and we’ve expanded our use cases to include much more than just tax reporting.”
Libra’s enterprise solution is blockchain agnostic and provides a translation layer accessible to business applications and infrastructure. The platform aggregates activity from multiple cryptographic ledgers to reduce the total number of interfaces that result from interacting with several distributed transaction networks.
The solution’s audit tools enable search, discovery, and tracking of any asset type represented or stored on a cryptographic ledger in real-time.
The reporting function of Libra permits easy scheduling and delivery of reports, analysis of blockchain data across multiple systems, downloading of local specific tax reports, and exporting of data into Excel.
Libra’s middleware layer enables cryptographic ledgers to operate in an end-to-end business process without disruption.
The software has standard and customizable dashboards that display KPIs and analytics according to business needs.