Blockchain-Powered Trading Platform Lykke Partners with CryptoTax

Lykke, a Swiss Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned.) In this sense, blockchain is immune to the manipulation of data making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tampe Read this Term company founded by Richard Olsen, the former CEO of OANDA, has partnered with CryptoTax to provide its customers with country-specific tax reports.

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CryptoTax, a brand of Munich-based 21 Consulting GmbH, offers tax reporting solutions and other regulatory declaration services for customers of cryptocurrency exchanges and users of blockchain assets to help them be compliant with the law of their state of residence. CryptoTax has a strategic alliance with KPMG to get access to its worldwide network of tax and legal experts and to ensure constant coverage of the current of legislation in each country.

“This is one more step along the way toward making blockchain-based trading a viable alternative to traditional markets,” says Olsen. “It is essential for us to be able to offer a wide range of reporting and declaration services. Transparency is one of our foundational values: trust among our user base, and openness to regulatory authorities. CryptoTax’s strategic thinking demonstrates their shared commitment to these goals.”

“Because of our experience in the conventional financial services industry we know that tax reports are already market standard and will also help companies operating in the field of Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term to reach a broader market acceptance while differentiating from other providers” states Klaus Himmer, CEO of 21 Consulting. “We are very pleased Lykke chose us to support them to manage the increasing demand of country-specific tax reports. We are sure that the cooperation will help both parties to foster their strong market position and help them to drive the market acceptance of blockchain based financial instruments”, he added.