Wednesday, June 26, 2019

CapLinked Launches Blockchain Auditing Product, TransitNet

Los Angeles-based software developer CapLinked, which is led by Eric M. Jackson, has launched a new product for helping companies in the blockchain and cryptocurrency area. According to CapLinked, the new product, TransitNet is a new software product to manage title verification, financial reporting, and corporate governance for blockchain-based securities and digital assets. CapLinked said one of its first clients for the software is Cohen & Company, a provider of audit and tax services, including to the cryptocurrency industry. The first product out of TransitNet is called Asset Collision Identifier, a tool which addresses a gap in the current crypto audit practices by giving service providers the tools they need to continuously monitor for the collision (duplication) of digital assets. CapLinked explained that TransitNet enables auditors, administrators, and other service providers to identify wallet addresses that may be claimed by multiple managers, helping ensure that specific assets are not claimed by more than one fund. CapLinked is venture backed by Alphabit Fund, Translunar One, Kenetic Capital, NextProtocol Ventures, and BKCM.