Real World Use Cases

The best use case for AI and blockchain is accounting, financial reporting, audit and analysis

The Market

The market for global accounting services and artificial intelligence is expected to grow to $3 trillion by 2030.

According to a market report by researchandmarkets, the market for global accounting services is expected to grow from $587.94 billion in 2021 to $1 trillion in 2026 at a rate of 11.4%. The market is then expected to grow at a CAGR of 11.5% from 2026 and reach $1,738.70 billion in 2031.

The global market for artificial intelligence and business analytics is projected to reach US$459.3 Billion by 2030, growing at a CAGR of 26.8% over the period 2022-2030, according to a separate researchandmarket report.

Use Case

The Pacioli AI Validating Node fulfills analysis requests of "as filed" public disclosures on the open network and as parties to external validation contracts, "EVC" prior to public disclosure. The difference between the two is dependent on the qualifications held by the node operator.

Process Controls

Validators may validate the following types of Process Controls:

• Financial Reporting Controls

• Audit Controls

• Analysis Controls

Following validation, the creator of a Process Control can claim the "Process Control NFT".

Crypto Asset Whitepapers and Financial Statements

Validators may validate crypto asset whitepapers prepared in accordance to MiCA and VARA as well as financial statements prepared in accordance to any global standard financial reporting scheme. The two most popular are USGAAP and IFRS.

Cohorts are used to validate crypto asset disclosure and financial statements prior to publishing and/or filing with regulators.

Cohorts

A cohort is a group of validators who are party to an ERC digital engagement contract. Cohorts are populated only by lawyers in the case of crypto asset whitepapers and accountants licensed to render audit opinions and attestations in the case of financial statements.

The purpose of engaging a cohort is to obtain an official legal opinion on crypto asset whitepapers or audit opinions on financial statements prior to release. Cohort members earn substantially higher rewards.

The Pacioli AI Agent works the same way in a cohort.

Open Protocol

Anyone can operate a Pacioli AI Node on Pacioli.ai. This is where all node operators initially deploy. Attorneys and qualified accountants can set their nodes to accept invitations to cohorts.

Financial statements that have been published with regulators can be validated by any node operator on the open protocol. This use case is especially useful for institutional investors who employ CFAs. They want to know if financial statements can be relied on and to what extent.