SembroTax to Launch Accounting Software with Automated Blockchain Data Retrieval

Sembro Development is launching specialized accounting software, SebroTax, for Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term users on December 15th.

The software is tailored to the needs of different segments of Bitcoin users: (1) "Individual" for casual Bitcoin users and day traders, (2) "Small Business," for those who conduct the bulk of their business activity in fiat but have elected to start accepting bitcoin as well (although it should be pointed out that many such businesses still receive payment in fiat through one of the bitcoin payment processors), and (3) "Bitcoin Businesses" that receive the majority of their revenues in bitcoin.

The solution automatically translates 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 transaction data into a general ledger, from where a tax professional can more easily calculate obligations.

In the announcement, it was noted that the IRS guidelines treating bitcoin as property can be enforced retroactively, so the ability to easily dig up past transactions is another added value.

A similar solution with automated functionality was launched by LibraTax earlier this year.