good news from SophiaTX.
"We are proud to announce the launch of E-XBRL! This financial reporting solution marks the first real-world business application of the SophiaTX Blockchain.
Yesterday, we officially announced the launch of our first product and first application of the SophiaTX Blockchain in business E-XBRL. The solution is designed to simplify and automate financial reporting and operates in line with the recently introduced Companies Commission of Malaysia (SSM) requirement for all public and private companies to digitally file their annual financial statements via the Malaysian Business Reporting System (MBRS) platform.
Heres how it works:
The E-XBRL solution focuses on accelerating and improving the accuracy of the financial reporting process by enabling users to bypass the cumbersome and costly process of manual data entry by auto-generating submission-ready reports from data input into the MBRS-ready master template developed for E-XBRL.
MBRS reports generated through E-XBRL are permanently recorded and encrypted on the SophiaTX Blockchain, allowing for the immutable sharing of data across the financial data supply chain while impeding data tampering and unauthorised revisions. Thus, data shared on E-XBRL is more accurate, consistent, and transparent than when pushed through paper-based processes which slow down productivity."
https://www.sophiatx.com/e-xbrl-launched-we-proudly-present-our-first-product/I commend the SophiaTX team for this significant development that will increase productivity of its users. This is really awesome where in recent months bearish markets ,at least we hear good news like this from the blockchain industry.