In March 2018, when two accountants were first introduced to Bitcoin, they quickly discovered that this technology removed one of the oldest problems in accounting, the source of trust. With this in mind, they recruited Faisal (the CTO) to see how it could be applied to modern day accountancy. It was very evident from day one that this project aimed to use the blockchain for its first and foremost use-case. As a ledger.
With the goal of disrupting the accounting and auditing industry, the idea was simple – how do we make all the low value add, high cost and time consuming work redundant that relies upon trust such as bookkeeping and transaction confirmations? As accountants already rely on a double ledger entry accounting system to do their work, it made natural sense to take the next step and adopt a triple entry accounting system where the third entry is stored on a blockchain – which is essentially a digital ledger. Moreover, given blockchain’s immutable nature the third entry will become the trusted source of truth.
To accelerate the adoption of our self-build Ledgerium Blockchain and be relevant to an industry which is generally considered conservative and technology laggards, LUCA+ was created. The name LUCA+ pays homage to the father of the double entry accounting system, Luca Pacioli.
LUCA+ is a middleware SAAS based application which connects business and finance tools, allowing the communication and transfer of data between different platforms. Combining this with the Ledgerium Blockchain and AI/Machine Learning, the following features were developed beyond just audit confirmations as originally intended Today we boast a team that spans 6 countries, with engineers, accountants and auditors.
Ray has been a professional accountant for more than 10 years, and has experiences in both commercial and public accounting industries including working in financial compliance and internal control, budgeting, forecasting areas in Top 500 companies for many years and wide range of experience in many business and taxation accounting firms. Ray also has memberships in many business associations and sports clubs.
Faisal aka “electo” is also very active in trading communities and provides a lot of technical feedback and education around bitcoin and trading in general. Faisal has worked with many of the top 100 fortune companies creating and implementing prediction based models based on both machine learning (AI) and trend analysis.
Chartered accountant of Australia and New Zealand; Adam started as an accountant, gathering 14 years of experience in the financial industry, super funds, F&B, and software development. Adam previously held a management role in a self-managed super fund (SMSF), and has managed over 800 million AUD in super fund assets at top-tier companies.
MCSE, MCDBA, MCP; Co-Founder of ChinaDsl.net – One of the largest Chinese broadband support community. Kellson has over 12 years of experiences in software development for education, multinational Telco & Energy Corps. With extensive experiences in leading project in CRM, ERP, and Telco & Energy back-end systems.
CISSP, CISM, CRISC, CCSK, ITIL. Abbas holds any and all security certifications out there. He has worked with library of congress, datawiz & is currently also the deputy CISO at peace corps. Abbas also ran and exited his own security consulting firm Adhere Inc. He is a specialist in getting organisations compliant with ISO 27001, FEDRamp and various NIST standards.