[ANN] SophiaTX Announcement - The Blockchain for Business

[muleroaa]

We are back with another interesting fact about the SophiaTX Blockhain. 

Does the token still get used behind the scenes though in these cases, like with Factom?

[BursePanther]

 Keep thread update everyday it could very helpful for this project, because i think that will show that dev and team very respect with their investor 

anyway don't make this personally it is just some opinion sir, you doing great on social media that was +1 for you and team

[jvper]

We are back with another interesting fact about the SophiaTX Blockhain. 

Does the token still get used behind the scenes though in these cases, like with Factom?

The token is used by this third party. It is just something automated, but the token is always necessary. At least this is what I understood.

[lobat999]

We are back with another interesting fact about the SophiaTX Blockhain. 

Does the token still get used behind the scenes though in these cases, like with Factom?

The token is used by this third party. It is just something automated, but the token is always necessary. At least this is what I understood.

I did not know about this feature and its seems unusual and I hope they could disseminate this feature to broader audience. Are there any articles / publications which describes this feature?

[Chief__Architect]

You guys were missing some HQ FUD?  

Why are the SophiaTX Academies only onsite?
Very expensive onsite trainings are so 90's and don’t help to scale new products.
Not talking about getting approvals for travel expenses to the very expensive Swiss.

Today  knowledge transfers scales and happens with virtual courses and classrooms for free. (edx.org)
Why does the company not offer a virtual SophiaTX Academy course on Youtube for free to foster adoption?
Why not even offer hands-on exercise using virtual machines from the cloud companies for free?

My proposal:
•   Offer free online courses on via Youtube
•   Sell online certificates for these courses
•   These blockchain-based certificates can only be bought with Sophia Tokens
•   As long the certificate is valid, for example two years, the tokens are locked.
•   After the certificate expires, the owner of the certificate gets a threshold of tokens back. For example 10% .
•   Some more economic fine-tuning required.  Maybe some kind of token burning after expiration too

In case I was a programmer and my manager wants me to build knowledge regarding Enterprise Blockchain, I would leave sophiatx.com very quick and continue my research at a different platform.
Because these mandatory building blocks for learning new technologies are missing:
•   Public tutorials
•   API documentation
•   Code examples
•   Architecture Blueprints
•   Reference applications
•   Public training systems or applications (via VM’s on hyperscalers)

PS:
The SAP&Blockchain seat on Binance is now available..

[lobat999]

You guys were missing some HQ FUD?  

Why are the SophiaTX Academies only onsite?
Very expensive onsite trainings are so 90's and don’t help to scale new products.
Not to talking about getting approvals for travel expenses to the very expensive Swiss.

Today  knowledge transfers scales and happens with virtual courses and classrooms for free. (edx.org)
Why does the company not offer a virtual SophiaTX Academy course on Youtube for free to foster adoption?
Why not even offer hands-on exercise using virtual machines from the cloud companies for free?

My proposal:
•   Offer free online courses on via Youtube
•   Sell online certificates for these courses
•   These blockchain-based certificates can only be bought with Sophia Tokens
•   As long the certificate is valid, for example two years, the tokens are locked.
•   After the certificate expires, the owner of the certificate gets a threshold of tokens back. For example 10% .
•   Some more economic fine-tuning required.  Maybe some kind of token burning after expiration too

In case I was a programmer and my manager wants me to build knowledge regarding Enterprise Blockchain, I would leave sophiatx.com very quick and continue my research at a different platform.
Because these mandatory building blocks for learning new technologies are missing:
•   Public tutorials
•   API documentation
•   Code examples
•   Architecture Blueprints
•   Reference applications
•   Public training systems or applications (via VM’s on hyperscalers)

PS:
The SAP&Blockchain seat on Binance is now available..

Thanks for pointing this out. I guess this are valid points to be considered by the team that if taken seriously, it could lead to bigger growth and will ensure greater adoption among its end users. I hope they will work it out.

[Huucrypto1]

Thanks for your information. I will look carefully.

[muleroaa]

You guys were missing some HQ FUD?  

Why are the SophiaTX Academies only onsite?
Very expensive onsite trainings are so 90's and don’t help to scale new products.
Not talking about getting approvals for travel expenses to the very expensive Swiss.

Today  knowledge transfers scales and happens with virtual courses and classrooms for free. (edx.org)
Why does the company not offer a virtual SophiaTX Academy course on Youtube for free to foster adoption?
Why not even offer hands-on exercise using virtual machines from the cloud companies for free?

My proposal:
•   Offer free online courses on via Youtube
•   Sell online certificates for these courses
•   These blockchain-based certificates can only be bought with Sophia Tokens
•   As long the certificate is valid, for example two years, the tokens are locked.
•   After the certificate expires, the owner of the certificate gets a threshold of tokens back. For example 10% .
•   Some more economic fine-tuning required.  Maybe some kind of token burning after expiration too

In case I was a programmer and my manager wants me to build knowledge regarding Enterprise Blockchain, I would leave sophiatx.com very quick and continue my research at a different platform.
Because these mandatory building blocks for learning new technologies are missing:
•   Public tutorials
•   API documentation
•   Code examples
•   Architecture Blueprints
•   Reference applications
•   Public training systems or applications (via VM’s on hyperscalers)

PS:
The SAP&Blockchain seat on Binance is now available..

Some very good suggestions there indeed. Would be nice if the team can consider some of these options.

[Chief__Architect]

XBRL is a pretty crowded area in the software industry:
https://www.altova.com/download-xbrl-software.html
https://www.xbrl.org/view/tools-and-services/?pagenum=1
https://www.oracle.com/applications/performance-management/products/financial-close-reporting/hyperion-disclosure-management/

If the Malaysian financial authorities use blockchain too in order automate and improve the XBRL-template collection process, this would probably be a game changer..
Happy to learn about other benefits of storing XBRL XML-files or XBRL collection template, probably these are excel-files, to a blockchain.

[cfif]

good news from SophiaTX.


"We are proud to announce the launch of E-XBRL! This financial reporting solution marks the first real-world business application of the SophiaTX Blockchain.
Yesterday, we officially announced the launch of our first product and first application of the SophiaTX Blockchain in business – E-XBRL. The solution is designed to simplify and automate financial reporting and operates in line with the recently introduced Companies Commission of Malaysia (SSM) requirement for all public and private companies to digitally file their annual financial statements via the Malaysian Business Reporting System (MBRS) platform.
Here’s how it works:

The E-XBRL solution focuses on accelerating and improving the accuracy of the financial reporting process by enabling users to bypass the cumbersome and costly process of manual data entry by auto-generating submission-ready reports from data input into the MBRS-ready master template developed for E-XBRL.

MBRS reports generated through E-XBRL are permanently recorded and encrypted on the SophiaTX Blockchain, allowing for the immutable sharing of data across the financial data supply chain while impeding data tampering and unauthorised revisions. Thus, data shared on E-XBRL is more accurate, consistent, and transparent than when pushed through paper-based processes which slow down productivity."

https://www.sophiatx.com/e-xbrl-launched-we-proudly-present-our-first-product/

[jvper]

SophiaTX team seems to be in the right direction, even though sometimes not the most efficient way, of course, since nobody is perfect.

[lobat999]

good news from SophiaTX.


"We are proud to announce the launch of E-XBRL! This financial reporting solution marks the first real-world business application of the SophiaTX Blockchain.
Yesterday, we officially announced the launch of our first product and first application of the SophiaTX Blockchain in business – E-XBRL. The solution is designed to simplify and automate financial reporting and operates in line with the recently introduced Companies Commission of Malaysia (SSM) requirement for all public and private companies to digitally file their annual financial statements via the Malaysian Business Reporting System (MBRS) platform.
Here’s how it works:

The E-XBRL solution focuses on accelerating and improving the accuracy of the financial reporting process by enabling users to bypass the cumbersome and costly process of manual data entry by auto-generating submission-ready reports from data input into the MBRS-ready master template developed for E-XBRL.

MBRS reports generated through E-XBRL are permanently recorded and encrypted on the SophiaTX Blockchain, allowing for the immutable sharing of data across the financial data supply chain while impeding data tampering and unauthorised revisions. Thus, data shared on E-XBRL is more accurate, consistent, and transparent than when pushed through paper-based processes which slow down productivity."

https://www.sophiatx.com/e-xbrl-launched-we-proudly-present-our-first-product/

I commend the SophiaTX team for this significant development that will increase productivity of its users. This is really awesome where in recent months bearish markets ,at least we hear good news like this from the blockchain industry.

[Darkoth89]

good news from SophiaTX.


"We are proud to announce the launch of E-XBRL! This financial reporting solution marks the first real-world business application of the SophiaTX Blockchain.
Yesterday, we officially announced the launch of our first product and first application of the SophiaTX Blockchain in business – E-XBRL. The solution is designed to simplify and automate financial reporting and operates in line with the recently introduced Companies Commission of Malaysia (SSM) requirement for all public and private companies to digitally file their annual financial statements via the Malaysian Business Reporting System (MBRS) platform.
Here’s how it works:

The E-XBRL solution focuses on accelerating and improving the accuracy of the financial reporting process by enabling users to bypass the cumbersome and costly process of manual data entry by auto-generating submission-ready reports from data input into the MBRS-ready master template developed for E-XBRL.

MBRS reports generated through E-XBRL are permanently recorded and encrypted on the SophiaTX Blockchain, allowing for the immutable sharing of data across the financial data supply chain while impeding data tampering and unauthorised revisions. Thus, data shared on E-XBRL is more accurate, consistent, and transparent than when pushed through paper-based processes which slow down productivity."

https://www.sophiatx.com/e-xbrl-launched-we-proudly-present-our-first-product/

I commend the SophiaTX team for this significant development that will increase productivity of its users. This is really awesome where in recent months bearish markets ,at least we hear good news like this from the blockchain industry.

And news like these where blackchain technology get adopted by real-world businesses is soo much more important than anything else. In the end this adoption will be worth so much more than all the people who are just in to make a quick buck.

[Chief__Architect]

good news from SophiaTX.


"We are proud to announce the launch of E-XBRL! This financial reporting solution marks the first real-world business application of the SophiaTX Blockchain.
Yesterday, we officially announced the launch of our first product and first application of the SophiaTX Blockchain in business – E-XBRL. The solution is designed to simplify and automate financial reporting and operates in line with the recently introduced Companies Commission of Malaysia (SSM) requirement for all public and private companies to digitally file their annual financial statements via the Malaysian Business Reporting System (MBRS) platform.
Here’s how it works:

The E-XBRL solution focuses on accelerating and improving the accuracy of the financial reporting process by enabling users to bypass the cumbersome and costly process of manual data entry by auto-generating submission-ready reports from data input into the MBRS-ready master template developed for E-XBRL.

MBRS reports generated through E-XBRL are permanently recorded and encrypted on the SophiaTX Blockchain, allowing for the immutable sharing of data across the financial data supply chain while impeding data tampering and unauthorised revisions. Thus, data shared on E-XBRL is more accurate, consistent, and transparent than when pushed through paper-based processes which slow down productivity."

https://www.sophiatx.com/e-xbrl-launched-we-proudly-present-our-first-product/

The product release is probaply

I commend the SophiaTX team for this significant development that will increase productivity of its users. This is really awesome where in recent months bearish markets ,at least we hear good news like this from the blockchain industry.

And news like these where blackchain technology get adopted by real-world businesses is soo much more important than anything else. In the end this adoption will be worth so much more than all the people who are just in to make a quick buck.

This product release is probably 10x more worth then a Binance listing.

If you compare to the impact of an exchange listing to the current product release relative to the token price, you might consider the crypto ecosystem still in a bubble phase.
In a bubble people invest in complex things they don’t really understand.  

Therefore these topics work far better and are easier to understand, then a blockchain based XBRL product, if you want to pump a crypto-coin:

• Exchange listing
• Master and other nodes
• Forks and Air drops (Free money)
• Token burnings
• News about news  
• Coin hyping on twitter  

[cfif]

good news from SophiaTX.


"We are proud to announce the launch of E-XBRL! This financial reporting solution marks the first real-world business application of the SophiaTX Blockchain.
Yesterday, we officially announced the launch of our first product and first application of the SophiaTX Blockchain in business – E-XBRL. The solution is designed to simplify and automate financial reporting and operates in line with the recently introduced Companies Commission of Malaysia (SSM) requirement for all public and private companies to digitally file their annual financial statements via the Malaysian Business Reporting System (MBRS) platform.
Here’s how it works:

The E-XBRL solution focuses on accelerating and improving the accuracy of the financial reporting process by enabling users to bypass the cumbersome and costly process of manual data entry by auto-generating submission-ready reports from data input into the MBRS-ready master template developed for E-XBRL.

MBRS reports generated through E-XBRL are permanently recorded and encrypted on the SophiaTX Blockchain, allowing for the immutable sharing of data across the financial data supply chain while impeding data tampering and unauthorised revisions. Thus, data shared on E-XBRL is more accurate, consistent, and transparent than when pushed through paper-based processes which slow down productivity."

https://www.sophiatx.com/e-xbrl-launched-we-proudly-present-our-first-product/

The product release is probaply

I commend the SophiaTX team for this significant development that will increase productivity of its users. This is really awesome where in recent months bearish markets ,at least we hear good news like this from the blockchain industry.

And news like these where blackchain technology get adopted by real-world businesses is soo much more important than anything else. In the end this adoption will be worth so much more than all the people who are just in to make a quick buck.

This product release is probably 10x more worth then a Binance listing.

If you compare to the impact of an exchange listing to the current product release relative to the token price, you might consider the crypto ecosystem still in a bubble phase.
In a bubble people invest in complex things they don’t really understand.  

Therefore these topics work far better and are easier to understand, then a blockchain based XBRL product, if you want to pump a crypto-coin:

• Exchange listing
• Master and other nodes
• Forks and Air drops (Free money)
• Token burnings
• News about news  
• Coin hyping on twitter  

many blockchains without a real product in the economy are hundreds of times more expensive than SophiaTX.therefore, now the market is speculative and the capitalization of projects is most influenced by investment funds,if they notice the project, it can grow tenfold.Only time will put everything in its place.

[lobat999]

good news from SophiaTX.


"We are proud to announce the launch of E-XBRL! This financial reporting solution marks the first real-world business application of the SophiaTX Blockchain.
Yesterday, we officially announced the launch of our first product and first application of the SophiaTX Blockchain in business – E-XBRL. The solution is designed to simplify and automate financial reporting and operates in line with the recently introduced Companies Commission of Malaysia (SSM) requirement for all public and private companies to digitally file their annual financial statements via the Malaysian Business Reporting System (MBRS) platform.
Here’s how it works:

The E-XBRL solution focuses on accelerating and improving the accuracy of the financial reporting process by enabling users to bypass the cumbersome and costly process of manual data entry by auto-generating submission-ready reports from data input into the MBRS-ready master template developed for E-XBRL.

MBRS reports generated through E-XBRL are permanently recorded and encrypted on the SophiaTX Blockchain, allowing for the immutable sharing of data across the financial data supply chain while impeding data tampering and unauthorised revisions. Thus, data shared on E-XBRL is more accurate, consistent, and transparent than when pushed through paper-based processes which slow down productivity."

https://www.sophiatx.com/e-xbrl-launched-we-proudly-present-our-first-product/

The product release is probaply

I commend the SophiaTX team for this significant development that will increase productivity of its users. This is really awesome where in recent months bearish markets ,at least we hear good news like this from the blockchain industry.

And news like these where blackchain technology get adopted by real-world businesses is soo much more important than anything else. In the end this adoption will be worth so much more than all the people who are just in to make a quick buck.

This product release is probably 10x more worth then a Binance listing.

If you compare to the impact of an exchange listing to the current product release relative to the token price, you might consider the crypto ecosystem still in a bubble phase.
In a bubble people invest in complex things they don’t really understand.  

Therefore these topics work far better and are easier to understand, then a blockchain based XBRL product, if you want to pump a crypto-coin:

• Exchange listing
• Master and other nodes
• Forks and Air drops (Free money)
• Token burnings
• News about news  
• Coin hyping on twitter  

many blockchains without a real product in the economy are hundreds of times more expensive than SophiaTX.therefore, now the market is speculative and the capitalization of projects is most influenced by investment funds,if they notice the project, it can grow tenfold.Only time will put everything in its place.

I definitely agree! I guess we can almost say that this project is really very undervalued right now in contrast with other projects who have huge marketcap yet dont have a working prototype yet.

[cfif]

still article on the same subject
https://paymentweek.com/2019-2-21-sophiatxs-e-xbrl-brings-mobile-payments-technology-blockchain-to-financial-reporting/

[SophiaTX]

Are you familiar with our buyback program? 

You can learn more about it here: https://www.sophiatx.com/what-is-sophiatx-buyback-and-why-participate 

[lobat999]

Are you familiar with our buyback program? 

You can learn more about it here: https://www.sophiatx.com/what-is-sophiatx-buyback-and-why-participate 

I think the buyback program is  really a great way to maintain a healthy blockchain ecosystem which could give the benefit of avoiding future issues that may arise with it. Good work!

[jvper]

Are you familiar with our buyback program? 

You can learn more about it here: https://www.sophiatx.com/what-is-sophiatx-buyback-and-why-participate 

I think the buyback program is  really a great way to maintain a healthy blockchain ecosystem which could give the benefit of avoiding future issues that may arise with it. Good work!

Trust me, they won't remove even 50% of ERC20 from circulation, because it is an opt-in solution (just like everything in blockchain). The best alternative was to let ERC-20 tokens become deprecated tokens. That would have been much easier to do and would resemble to an opt-out solution (the original plan).