Electra's Signal – Your First Buzz

Hi !

Welcome to the first issue of Electra's Signal! This week’s buzz brings you my laser-eyed updates from the world of Bitcoin, crypto accounting, and Web3 - for accountants and accounting-appreciators alike. Now - here are this week’s 5 key signals to amplify:

1. Auditchain’s Pacioli.AI: On-Chain Financial Disclosure Nodes Go Live
What does the future of auditing look like? See here!
Auditchain Labs AG deployed Pacioli.ai, the world's first Web3 Regulatory Finance (RegFi) protocol, on the Polygon mainnet. This innovative platform utilizes a Decentralized Physical Infrastructure Network (DePIN) of nodes to read, understand, and detect inconsistencies in machine-readable reports. Notably, on November 26, 2024, at 11:34:03 EST, Pacioli.ai performed its first on-chain analysis of an XBRL financial statement, marking a significant advancement in automated, blockchain-based financial reporting. Read more. / What is RegFi?

2. Blog Spotlight: Bitcoin Unit-of-Account with Composite Fractionalized Money
I’m exploring how Bitcoin can serve as a global unit-of-account in a multi-chain, multi-currency future. By leveraging the sBTC protocol within a composite fractionalized money system, this ‘out of the block’ approach challenges traditional notions of Bitcoin’s use as a means-of-exchange. Can the Network Accountants of NS.com lead the implementation of Bitcoin as a unit-of-account and reset global financial systems? Read More

3. Coming Soon: the BitByBit Bitcoin Global Accounting Competency Framework
BitByBit updates professional accounting education by integrating Bitcoin and open source technologies, empowering accountants to define their role in a decentralized digital economy. This framework, delivered through weekly livestreams, will map essential Bitcoin knowledge and principles to 19 core, ethical, technical, professional, and management competencies.

At its core is the conviction that Bitcoin is Accounting and Accountants are Bitcoin.

4. Crypto Accounting Academy Cohort 5 Now Open
The Crypto Accounting Academy is a 7 week cohort based course that gives you practical insights on crypto-accounting and gains the confidence to be hired for your next crypto accountant and CFO role. The ElectraFi accountants graduated CAA in 2024 and genuinely recommend it. Cohort 5 starts in January! This is your chance to tick off a new year’s resolution to master the accounting and finance functions for digital assets and blockchain businesses. Apply today _{*affiliate link}

5. Spotlight on Crypto Accounting Leaders - Headquarters (HQ.xyz)
Singapore is fast becoming a hub for Web3 accounting. This week, we’re highlighting, HQ.xyz co-founded by Sharon Lourdes (V1 Network School resident) and Sunny Singh, who have been building a foundation of onchain finance since 2019. What sets the team apart is balancing the books for crypto-natives yet with an appreciation for tradfi - the much needed ingredient to bridge the onchain economy with the highly-regulated world of banking and financial reporting.

Key features:
- Onchain transaction reconciliation and accounting
- Payments from onchain wallets and multisig, SAFE
- Batch token payouts for efficient payroll and vendor payments
- Stablecoin to bank payouts (pay in crypto, fiat received)
- Visa corporate cards

As of Nov 2024, HQ.xyz has tracked close to $1 billion for leading onchain businesses, including Mantle, Mandala Club, and Pixelmon. They have also achieved both SOC 1 and SOC 2 Type 2 certification and were recognised as First Runner-Up at the Singapore Fintech Festival Global Fintech Awards 2023.

Their mantra, “Banking Without the Bank”, empowers businesses to maintain the integrity of cryptocurrency’s ethos of self-custody, while enjoying an intuitive, unified platform for all financial operations.

Bonus Signal: High-Signal Books to Chill With While NGU
Looking for something to ground you while Bitcoin’s NGU (Number Go Up)? Check out these must-read/listen titles for the crypto-savvy accountant:

• 📕 The Sovereign Individual: Mastering the Transition to the Information Age, by James Dale Davidson

• 📕 The 7th Property: Bitcoin and the Monetary Revolution, by Eric Yakes

• 📕 Broken Money, by Lyn Alden

That’s your buzz for this week! Stay subscribed for more signals to stay future-proofed and positioned for a decentralized, crypto and Bitcoin-driven economy.

Warm regards,
Electra

P.S. Got questions or feedback? Hit reply—I’d love to hear your thoughts!

P.P.S. Please forward this to every crypto-curious accountant you know :)