About the Proof of Solvency
What is a Proof of Solvency?
This proof of solvency allows each ICONOMI user's account balance to be verified without disclosing any personal information. We have also set up a system to enable users to verify their account balances for themselves.
The proof of solvency also proves that ICONOMI's reserves are greater than its liabilities.
Note: A proof of solvency does not constitute any type of financial statement audit. It is defined as a process in which blockchain technology is used to prove the existence and/or ownership of digital assets.
Why is it important?
For users, proof of solvency is primarily a way to increase transparency. Because we have undergone a proof of solvency by a third-party company, you can be sure that all account balances are correct and that all company liabilities have been calculated accurately.
Who performed the Proof of Solvency?
The proof of solvency was performed by a Big Four professional services firm with a strong reputation throughout the world for its thorough, accurate procedures.Latest Proof of Solvency: 5th of April 2018