Provenance Accounting

Fundamentally we believe the future of accounting and of all supply chain management is the tracking of individual items in an object like data structure, where that datastructure can be easily moved between different participants in a supply chain, and which allow the recovery of all historical data by any recipient of the data object. One blockchain per object appears to satisfy this requirement nicely.

Existing systems seem incapable of being retrofited to such a model, as they have a tendency to concentrate data within each supply chain participant rather than share between all, and they have a relational data structure which includes counting with numbers, which destroys information. We believe that unless a system is designed to be object first from its inception, that it will be impractical to convert an existing accounting system over to this model, such as SAP. The change would be so great, from backend right through to how the customers are familiar with the system that a new paradigm will need to be started.

This requirement for a new start makes it easy to demonstrate the difference, but very hard to penetrate the existing market due to the sheer momentum of the incumbents. A demonstration customer of this system ideally has no software whatsoever, and builds on this system from scratch.