|Minimal investment||0.5 ETH|
INTRACHAIN IS A PROCESS MINING SOFTWARE WITH AN INTEGRATED BLOCKCHAIN
With the integration of blockchain technology into behavior tracking, we believe that we offer a high-value service to major economic players and private users alike that has transformational potential. We offer individuals the required personal behavioral data to reflect on their usage of smart devices and analyze their time spent. Furthermore, it is our aim to revolutionize accounting practices by making use of new technological possibilities. We want to automate accounting practices such as reconciliation with the help of blockchain and smart contracts. This makes effort allocation more efficient, helps companies to save costs and provide them with the accurate data that are needed to make informed decisions.
Private users and businesses are increasingly affected by nontransparent data tracking methods and inaccurate data. Private users are therefore often unaware of their digital behavior. For businesses, the consequences are even greater: Important documents such as financial reports rely on data as one of the main information sources. If these data are incorrect, companies can suffer from fines, lack of trust of shareholders and wrong decision-making. Common practices in this regard, for example reconciliation or manual data errors corrections, are time-consuming and therefore very costly.
Intrachain’s solution aims at solving these major issues. Therefore, we created the world’s first process mining software with an integrated blockchain. Intrachain makes the collection of data trails easy, the cost transaction processes secure of human errors and helps to increase the overall database quality.
To gain a better overview of the trails of data, Intrachain’s process mining engine generates detailed data about user behavior and performed efforts. These data are then transmitted to the Intrachain blockchain where they are stored safely and transparently in a private blockchain. For Intrachain Business customers, the corresponding costs are then being allocated to the responsible entities and can be booked simultaneously via smart contracts. This way, companies gain a clear overview of their intracompany transactions and get rid of common flaws of current reconciliation methods.
OVERVIEW OF INTRACHAIN BENEFITS
- Highest possible data quality
- High data security
- Compatibility with different IT landscapes
- Significant cost savings
Intrachain search trends in Google
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This Whitepaper states the current views of Intrachain GmbH concerning the proposed
decentralized database network named ‘Intrachain’, the external cryptographic tokens pro-
posed to be used with Intrachain, and related matters. Intrachain might from time to time
revise this Whitepaper in any respect without notice. However, Intrachain undertakes no
obligation to update this whitepaper or any of the information it contains. You are responsi-
ble for ensuring that you have the latest version of this Whitepaper and that you read and
understand its contents.
Presentation of indicative information only.
Unless expressed otherwise, Intrachain and
the technologies on which it will be based are under development and are not cu...
Not a recommendation or advice.
This Whitepaper provides information about Intrachain
and summarizes the target market, business model, and technology of Intrachain. Nothing
in this Whitepaper should be considered a recommendation for any person to purchase In-
trachain Token or to use Intrachain. If Intrachain elects to conduct such a sale, possessing,
copying, or sharing this Whitepaper does not constitute participation in any sale of Intra-
chain Token. No information in this Whitepaper should be considered as business, legal,
financial, or tax advice regarding the purchase of Intrachain Token or the use of Intrachain.
No part of this Whitepaper may be relied on to form the basis of, or be connected with, any
decision regarding the purchase of Intrachain Token or the use of Intrachain.
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has reviewed, examined, or approved any of the information contained in this Whitepaper.
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Disclaimers of representations, warranties, undertakings, and conditions.
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extent permitted by all applicable laws and regulations, Intrachain and Intrachain Related
Parties do not make or purport to make, and hereby disclaim, all representations, warran-
ties, undertakings, and conditions (express or implied, whether by statute, common law,
custom, usage, or otherwise) regarding Intrachain, Intrachain Platform, Intrachain Token,
this Whitepaper, and any forward-looking statements. Intrachain provides any information in
this Whitepaper “as is” with no guarantee of com...
TODAY’S GLOBAL BUSINESS WORLD
WHY ACCOUNTING MATTERS
CHALLENGES OF ACCOUNTING
Inefficiency and high costs
Rising complexity and inaccurate data
PROBLEMS OF INTERCOMPANY TRANSACTIONS
A common real-life situation
BUSINESS IDEA, CUSTOMER BENEFITS, AND PROTOTYPE
MARKET TRENDS, OPPORTUNITIES, AND BUSINESS MODEL
Trend: Increasing demand for automation
First product of its kind
Business-to-business marketing strategy
INTRACHAIN’S TECHNICAL ARCHITECTURE
IN TODAY’S GLOBALIZED WORLD, MULTINATIONAL FIRMS OFTEN HAVE NUMEROUS
SUBSIDIARIES ACROSS DISPERSED GEOGRAPHIES. AS A SIDE EFFECT, THEY ARE
CHARACTERIZED BY HETEROGENEOUS FINANCIAL SYSTEMS, MULTIPLE, OFTEN
INCOMPATIBLE IT LANDSCAPES, SERVERS, AND SORTS OF DATA. FURTHERMORE,
MULTINATIONAL VALUE CHAINS BECAME PART OF DAILY BUSINESS PRACTICES.
ALL OF THIS LEADS TO A NOTABLE INTERNATIONALIZATION AND CONSEQUENTLY
A HIGHER COMPLEXITY OF ACCOUNTING PROCESSES.
Every firm, however, is required by law to draw up accurate and transparent financial state
ments. When financial statements are created, accurate data are absolutely vital for every
stakeholder involved. Governments, shareholders, prospective investors, the firm’s man
agement, and financial institutions rely on them. Therefore, the accounting division is re
sponsible of keeping track of every transaction within the firm, as well as between different
3. Rising complexity and inaccurate data
As complexity increases, collecting accurate data becomes more challenging, often lead-
ing to Insufficient Intercompany Accounting (ICA) practices. Therefore, it is in the interest
of any firm, its shareholders and CEO in particular, to have a process in place that resolves
transaction level disputes. At the same time, it should deliver visibility and transparency.
This is not only important for financial reporting and internal decisions, but also for when a
company wants to fully comply with tax laws and transfer pricing requirements.
Common challenges that firms face with reconciliation are also late reconciliation, missing
intragroup reconciliation, incorrect bookings, currency differences, and period variations. In
theory, all of this could be circumvented if all intragroup bookings took place on the same
day. If only fixed valid booking records were given, a large part of the incorrect bookings
would be eliminated. Additionally, a...
rate (CAGR) of 6,3% over the forecast period from 2017-2024. (4) By the end of that peri-
od, the market can thus be expected to reach a valuation of approximately USD 5 billion.
With a customer-focused marketing strategy, Intrachain aims at covering the need for a
more effective solution in terms of intragroup reconciliation processes. Offering the first
product of its kind, Intrachain has the opportunity to capitalize on the first-mover advan
tage and establish itself as a global company for automated accounting and reconciliation
Intrachain is a process mining software with an integrated blockchain for intragroup
cost allocation and transactions.
We aim at revolutionizing reconciliation by making use of new technological
possibilities and automating accounting practices.
Large corporations usually consist of several hundred subsidiary companies, which are put
together under one group. Managing these entities can be ve...
TODAY’S GLOBAL BUSINESS
IN OUR GLOBALIZED WORLD, MERGERS AND ACQUISITIONS AS WELL AS JOINT VEN-
TURES ARE COMMON PRACTICE. Especially industry consolidation, whereby stronger
players snap up their weaker competitors, is increasing. Every one of these new company
group bodies results in multiple, often incompatible IT landscapes, servers, and sorts of
data, as well as in heterogeneous financial systems, charts of accounts, and accounting
processes for the whole group. (5) Furthermore, multinational value chains became part of
daily business practices. All of this leads to a notable internationalization and consequently
a higher complexity of businesses.
Multinational firms now often have numerous subsidiaries across dispersed geographies.
For a company, this means that different currencies have to be accounted for and that
sometimes information flows are difficult, also considering possible time differences across
countries. Additionally, if the subsidiari...