SAN RAMON, Calif., Nov. 11, 2020 (GLOBE NEWSWIRE) -- Armanino LLP, one of the 25 largest accounting and business consulting firms in the U.S., today announced another landmark move for trust and transparency in digital asset ecosystems. TrustExplorer™, the firm’s flagship blockchain-enabled platform, is now capable of providing source of truth data to the Chainlink Oracle Network, enabling decentralized finance (DeFi) protocols and other decentralized applications (dApps) to ingest valuable off-chain data. In this industry-first exemplar, TrustToken’s TrueUSD collateral reserve data will be served on chain. The collateral reserve data is specifically composed of the aggregate balance of TrustToken’s trust accounts collateralizing its USD stablecoin and total number of TrueUSD tokens outstanding, in each case as of a specific time. This data is served on chain in an automated way to make trust and transparency-enabling data visible to smart contracts.
Today’s announcement represents a collaboration between Armanino, whose Real Time Attest module within TrustExplorer leads the global market with the world’s first application of real-time attestation; TrustToken, the world’s first compliant, 1:1 dollar-backed stablecoin and an Armanino attest client; and Chainlink, the world’s largest decentralized oracle network for blockchains.
“In a continuation of our work in building methods and tools to enable trust and transparency for digital assets, we are working with TrustToken and Chainlink to provide valuable off-chain data, in an automated and real-time feed so that dApps can make automated and instant decisions,” said Noah Buxton, head of Armanino’s Digital Assets practice. “The future of finance and capital markets is on chain, but not without trustworthy oracles, oracle networks and valuable off-chain data. Chainlink’s Proof of Reserve Reference Contract represents a promising and emerging standard for transparency in on-chain trust.”
TrustExplorer’s capacity to act as an oracle to the Chainlink Network gives Armanino’s digital asset clients the optionality to seamlessly provide off-chain and siloed data for use on chain in DeFi and other decentralized applications, further strengthening TrustExplorer’s mission to bring world-class trust and transparency to the digital asset ecosystem.
“Our ability to provide unprecedented transparency continues to grow with TrustExplorer,” continued Buxton. “While users always have access to our live dashboards, and on-demand attest reports, Chainlink provides the first of what we hope to be many different ways for users to access data in flexible ways that meet their needs directly on chain.”
About TrustExplorer
Launched in 2019, TrustExplorer’s Real-Time Attest module is the world’s first application of real-time attestation. TrustExplorer also provides a full spectrum of blockchain solutions, including Trusted Node, an archival data service for blockchains; and Proof of Reserves, a trust-enhancing service tailored for the needs of digital asset custodians and exchanges. It is used by a variety of renowned tokens, exchanges and funds, including TrustToken, Hedera Hashgraph, Gate.io and CoinShares.
To learn more about TrustExplorer, and how it can bring real-time attest and transparency to your organization, please visit: https://learn.armaninollp.com/trustexplorer-blockchain-contact/
About Armanino LLP
Armanino LLP (www.armaninollp.com) is one of the 25 largest independent accounting and business consulting firms in the nation. Armanino provides an integrated set of audit, tax, business management, consulting and technology solutions to companies in the U.S. and globally. The firm helps clients adapt and change in every stage of business, from startup through rapid growth to the sale of a company. Armanino emphasizes smart technology, leading a cloud revolution of financial, operational, sales and compliance tools that are transforming the way companies do business. The firm extends its global services to more than 100 countries through its membership in Moore Global, one of the world's major accounting and consulting membership organizations. In addition to its core consulting and accounting practices, Armanino operates its division, AMF Media Group (www.amfmediagroup.com), a media and communications services agency. Its affiliate, Intersect Capital (www.intersectcapitalllc.com) is an independent financial planning, wealth and lifestyle management firm.
Kyle McGuire, AMF Media Group
925.790.2788
kyle@amfmediagroup.com