Cryptocurrency and blockchain technologies have resulted in an incredible amount of innovation with massive potential for the further reinvention of how digital value is owned, used and transferred. Businesses across all sectors have already found significant use-cases, not only as investment opportunities, but rather opportunities that increase operational efficiency, improve transactional security, and create a technologically competitive advantage in their respective industry. Today’s most dominant industries, both digital and non-digital, will begin to see decentralized blockchain protocols overtake incumbents over the course of the next decade. However, the current pool of crypto-native companies still encounter a number of significant shortcomings that can discourage businesses from the full trust and adoption of this growing technology.
Consola.finance has a clear mission that brings clarity and control to a company’s crypto finances. Through our back-end finance process solution, we are enabling crypto-native companies to refocus their precious resources to value-adding activities.
Consola.finance is the first human-readable blockchain explorer with additional business functionalities. The platform serves as a single source of truth for crypto wallet data. Through the Consola-Financial-Engine©, we offer companies an extremely intuitive approach to consolidating, augmenting and exporting blockchain data with the goal of providing the highest level of transparency and insight. Furthermore, companies have the ability to work with best-in-class control functionalities for their crypto finances.
Executing, automating transaction flows, and improving team synchronicity has never been so simple in a crypto-centric environment. We stand out from the competition through our modularized solution, offering flexible customization, intelligent collaboration, and the simplest user experience.
Several issues with self-custodied wallets exist
The current market sentiment shows a strong trend towards the decentralization of crypto wallet management (“not your keys not your coins”), however, most companies still face several problems in regard to their crypto wallet management.
First of all, due to the high number of varying wallets and transactions, there is a concern over data reliability and accurate reporting which needs to be addressed in a diverse cryptocurrency environment. Noting the purpose of an individual transaction and categorizing the expense at time of occurrence can result in an overly complex reconciliation process. Bookkeeping can become a nightmare for a business where scaling becomes increasingly difficult as the transaction volume and wallet count increases. Intransparent and tedious accounting processes can be burdensome, requiring a significant amount of focused time to gather and reconcile data.
Another issue, as crypto-native companies address the need for quality data, inefficiencies have presented themselves in the form of relying on different software solutions. Most financial processes are conducted across multiple software workstreams, meaning any data aggregation needs to be connected with the possibility of human error. Current block explorers and crypto exchanges so far have only provided a fraction of the functionalities needed to keep track of transactions — meaning more time lost extracting, reconciling, and compiling data with spreadsheet software.
Consola.finance partners with several DAOs, web3 firms, and traditional companies to solve the mentioned pain points in a collaborative and meaningful way. Our partners have shared the frustration with the issues at hand and provided us with valuable insights for finding an innovative single source solution..
Through cutting-edge technology, consola.finance brings the highest level of clarity and control
Consola.finance is tackling these limiting pain points using an innovative set of new features. The highest level of data clarity will be achieved by enabling users to visualize their wallet balances, track net inflows/outflows, aggregate blockchain or protocol network fees, and run portfolio and transaction analytics through our proprietary AI technology. Notably, this is not a one size fits all solution — customization for individual user needs is one of our key focus areas. Users are able to assign unique wallet names, auto-categorize transaction types, incorporate specific data points, attach documents, and parse custom smart-contract transactions. All features of consola.finance can be leveraged using a collaborative team approach, simply meaning that our user rights management functions make it easy to work together, track activity, and share documents as a team.
To provide best-in-class control, consola.finance builds on existing multi-signature solutions and improves them by laying over new functions. Consola.finance provides a cost-saving and secure way for on-chain swap transactions through the use of defi protocols directly on the platform. With regards to crypto spend management, consola.finance supports recurring crypto payments, batch transactions, and custom spending limits. These features are further backed using Notifications and Alarms pertaining to any wallet movements, rounding up the wide range of our package offering.
This is just the beginning — consola.finance serves as the foundation to onboard the next wave of companies to crypto.
Sign up for our waitlist via https://consola.finance/ and get early access to test our product. If you want to receive the latest roadmap updates, play a role in future product shaping, and engage with the consola.finance community, join our discord channel here: https://discord.gg/NYYpgTNG