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Traditional forms of auditing are time-consuming, prone to error and unable to capture and evaluate 100 percent of a company’s data. ULedger is offering a solution that allows companies to obtain a transparent, non-forgeable and mathematically immutable trail of every single financial transaction or event that occurs, including the exchange of company emails, pictures, documents, and contracts.

ULedger is accomplishing this by underpinning a company’s existing technology infrastructure and database with blockchain technology. Unlike other blockchains such as Factom, ULedger uses a stateless protocol, meaning that it uses multiple independent blockchains and associated nodes in order to certify transactions. This method not only increases efficiency and scalability, but also increases the integrity of data; the timestamping and hashing of events is done by the individual nodes, rather than by ULedger.

ULedger is already helping several major companies maintain transparency and proof of regulatory compliance. Josh Mclver discusses a variety of topics, including how ULedger’s approach is particularly important for IOT transactions and edge computing, and how the application of this blockchain technology will enhance the quality and reliability of machine learning.

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