Noah Buxton, director and co-lead of Armanino’s blockchain practice and Jeremy Nau, senior manager of the practice join the show. Armanino LLP is an accounting and audit firm that has developed proof of reserve tools for exchanges and custodians, as well as real time attestation tools for stablecoins. In this episode, we cover:
- How Armanino came to engage with crypto financial companies
- Why Proof of Reserve matters to the industry
- How a modern Proof of Reserve process is mechanically carried out
- Why exchanges are looking to adopt PoR today
- Why the first round of PoR didn’t stick
- Why the Liability side is so tricky
- Why involve an auditor in a PoR process
- Whether PoR inherently requires an audit or accounting firm
- Proof of Reserve as a way to avoid onerous regulation
- Armanino’s real time assurance tool for Trust Token
Find out more about Armanino at armaninollp.com
More about Proof of Reserves
- Nic Carter in Coindesk, How to Stop the Next Quadriga: Make Exchanges Prove Their Reserves
- Nic Carter on Medium, How to scale Bitcoin (without changing a thing)
- Bitcoin Magazine, Why Proof of Reserves is Important to Bitcoin