Mini Monkey Finance is creating the First decentralized accounting platform for businesses that will provide real-time insight into önancial data to achieve 100% accuracy for a credit risk algorithm that can be used globally. This analysis will be conducted using a single ledger approach and will consider business, all-time historical Financial data to safeguard and transform the way credit risk is assessed by lenders, investors, banks and other önancial institutions while building a blockchain-backed accounting ecosystem
Information in an accounting solution used by a business is usually isolated and closed to the public, so it is not possible to prove the immutability of records, accuracy of the data without exposing all the business secrets.
- - Current Assets
- - Current Liabilities
- - Working Capita
- - Retained Earnings
- - Earnings Before Interest and Taxes
- - Total Liabilities
- - Total Assets
Banks n Banks now lack real-time Financial insights of business, and their decisions are based on historical data that may be six months to a year old and those numbers do not reveal enough quality data to obtain an accurate appraisal of the company önancial health. Traditional önancial institutions turn down 72% of funding requests and other lending players take 2 to 7 business days for due diligence, and if approved, it takes 2-5 business days to get money in the bank. This is not an ideal situation, and if small and medium sized enterprises (SMEs) must accept deferred payments, then these enterprises need new ways to get Financing.
With Mini Monkey Swap, every journal entry data is allocated to the blockchain through automatic API connections to an accounting. Mini Monkey Swap will use technology to assign a unique Fingerprint to every transaction performed in an accounting software and publish them on the blockchain.
Mini Monkey Swap Single Ledger is going to open an abundance of opportunities for millions of SMEs worldwide. Mini Monkey Finance takes a disruptive approach to the outdated methods and completely offers a new, safe and secure way to expose Financial data to lenders, auditors or regulatory authorities
Early versions of the whitepaper shared with select few for feedback and suggestions Deal copy pushed Poof of Concept done on the Slickph infrastructure successfully.