HashChain Technology Reports a 52% increase in users for their Cryptocurrency Accounting and Tax Software Since NODE40 Acquisition
VANCOUVER, May 1, 2018 - HashChain Technology Inc. (“HashChain” or the "Company") (TSXV: KASH; OTCQB: HSSHF) today announced a 52%* increase in users for their cryptocurrency accounting and tax software, Balance, since the acquisition of NODE40 on January 30, 2018. Between February and April 2018, Balance integrated support for the Coinbase and Gemini exchanges, to expand the service to more high-volume cryptocurrency traders.
Balance is Software-as-a-Service (SaaS) that offers cryptocurrency holders a simple and accurate way to keep track of transactions by analyzing the blockchain to report capital gains and losses. Cryptocurrency users can upload data from any hardware or software wallet, as well as their Coinbase and Gemini exchanges. When the user authorizes read access to their transaction history, Balance provides both a high level and detailed summary, including date, time, transaction type, short-term or long-term gains, and price differential. Once the gains and losses are calculated, the software automatically details the information on a worksheet that can be shared with a CPA to file at tax time.
“The recent tax season lit a fire under cryptocurrency holders, who learned the complexities and ROI impact of regulatory compliance,” says Patrick Gray, CEO of HashChain. “With Balance, we have developed a simple-to-use solution that gives users the ability to track gains and losses in real-time to determine taxes owed and help create a more accurate depiction of their total coin profits throughout the year. HashChain is dedicated to continuing integrations with new exchanges and growing the user base even further.”
For a limited time, the Balance solution will be available for free. To create an account, visit: https://www.node40.com/balance/.
*The percentage of user growth was determined based on total users of the platform from January 2018 (720) through April 2018 (1091). The software in its beta form has been available to users free of charge.
About HashChain Technology Inc.
HashChain is a blockchain company, and the first publicly traded (TSXV: KASH; OTCQB: HSSHF) Canadian cryptocurrency mining company to file a final prospectus supporting highly scalable and flexible mining operations across all major cryptocurrencies. HashChain taps low-cost North American power, cool climate and high-speed Internet: the trifecta most critical to mining success, to create a competitive position for maximizing the number of mining ‘wins.’ Diversifying its business strategy beyond crypto mining, the Company acquired NODE40, a blockchain technology company that developed NODE40 Balance, a new SaaS product making cryptocurrency accounting and tax reporting simpler and more accurate. The solution allows cryptocurrency users and traders to accurately report their capital gains and losses. NODE40 is also one of the leading masternode server-hosting providers for the Dash network.
HashChain Mining is a wholly owned subsidiary of HashChain Technology Inc. based out of Albany, New York, and an office in Vancouver, British Columbia.
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