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RE: My blockchain memory
When it comes to merchant tax accounting software that deals with accepting crypto as payment, I think PundiX has one that is integrated in their product/service offering.
When it comes to merchant tax accounting software that deals with accepting crypto as payment, I think PundiX has one that is integrated in their product/service offering.
My fear is that in many jurisdiction the taxman and the reporting obligations of merchants are not clear when it comes to accounting for crypto. I know that in much of Europe it's a nightmare. Should it go under IFRS 9, IFRS 12 or IFRS 15 ? If you are a merchant and have to pay a consultancy to write an opinion that is not even binding legally, would you go through the pain of doing it? Most merchants bet that they won't be losing much custom by simple refusing to deal with crypto.
I think what's missing is useful new applications such as bitcoin, ethereum and steem which create value for everybody and capture it in the crypto. Cryptos which are "copycats" (Tron, EOS, Tezos all try to be "better Ethereums" for instance) or which focus on doing something from the real world "but with crypto" are less helpful IMO.