Antoine Scalia from Cryptio on Digital Asset Bookkeeping
What We Discuss With Antoine Scalia
If accounting standards are still playing catch up with digital assets, bookkeeping can nonetheless be done right.
But tracking and extracting onchain data for accounting is a tedious task – it’s time consuming and bridging that data to an accounting software can be daunting for accountants.
One company that wants to automate digital assets bookkeeping is Cryptio.
Cryptio allows you to convert the blockchain transactions from wallets, exchanges, and custodians into your accounting software to facilitate your reporting, audits and tax filings.
To learn more about the challenges of digital assets bookkeeping, I speak to Antoine Scalia, the founder of Cryptio.
Antoine and his team can be proud to have already put Cryptio on the map as the industry benchmark for digital assets bookkeeping, working with leading blockchain projects such as Cardano, Solana, Consensys, Aave and a lot more.
In this episode you will learn;
- The bottlenecks with converting crypto transactions for bookkeeping;
- How Cryptio’s platform facilitates reporting crypto transactions;
- Why Cryptio is a good auditing tool;
- Bookkeeping for DAOs where 100% of transactions are on-chain;
- Challenges faced by Cryptio for adoption, and much more.
Shownotes
- Antoine shares the story during the ICO boom of 2017 that led to founding Cryptio [2:03]
- Bottlenecks for tracking and reporting digital assets into an accounting software [3:41]
- How Cryptio convert crypto onchain data into traditional accounting records [6:54]
- The onboarding experience at Cryptio and pre requisites to have [10:42]
- How much of the accounting process can now be automated with Cryptio [13:38]
- Reconciliation of crypto transactions is the pain point for accountants [19:58]
- Challenges with mapping DeFi transactions [21:45]
- DeFi smart contract monitoring (eg. how to know claimable tokens in LP as at year end) [24:18]
- Why and how auditors like Mazars use Cryptio for auditing digital assets [30:22]
- Bookkeeping for DAOs where 100% of transactions are on-chain [33:49]
- Partnerships with other web3 companies that could help bring the vision of Cryptio together [38:17]
- Challenges faced by Cryptio for adoption [41:37]
- Roadmap and upcoming milestones for Cryptio [43:54]
- Why Antoine find social tokens compelling to develop communities [45:29]
