Consola Finance from Austria has launched an automated accounting and finance platform for Web3 companies.

“Our mission is to bring clarity and control to businesses’ crypto finance, and our platform automates processes like bookkeeping, bookkeeping, and reporting, saving valuable time and reducing human error,” the company said in a published announcement. on his LinkedIn page on Tuesday. (January 10).

Consola says its product, now available on Ethereum, Polygon, and Solana, offers accounting and bookkeeping features including transaction and pricing fetching, fiat valuation, automatic categorization, costing, profit and loss calculation, and reporting.

“We have built an entirely new on-chain data infrastructure that provides the highest quality of blockchain data available, and we have partnered with leading node providers and audit firms to ensure the accuracy and reliability of our data,” said the advertisement.

The launch comes as the cryptocurrency industry faces increased oversight following the crash of the FTX exchange in November last year.

“As macro headwinds batter consumers and overleveraged implosions mark the industry landscape, industry watchers openly doubt that cryptocurrencies even deliver the inflation hedge they once promised,” PYMNTS wrote on Tuesday. last month.

Several executives told PYMNTS that last year would be the year that people would start using bitcoin and other cryptocurrencies as payment/purchase methods.

But now, that window of opportunity seems to be closing, and the road to mass acceptance of cryptocurrencies as a payment option looks increasingly bumpy.

Meanwhile, PYMNTS wrote last month about the way cryptocurrency-powered business models are reshaping front-end and back-end business operations around the world.

These models not only offer innovative new answers to questions about exchanging money across borders and transmitting large sums of money, but also offer compelling solutions for transparency-driven security and fraud prevention.

Misha Graboi, CFO of Chia Network, spoke with PYMNTS to discuss how enterprises can leverage distributed networks for business-to-business (B2B) engagement, without trading functionality for security.

“Payments using cryptocurrency technologies are relatively straightforward,” Graboi said, “but one place where certain cryptocurrency technologies especially shine is in their ability to improve transparency across the entire value chain.

“[They] provide the security inherent to bitcoin and the functionality inherent to smart contracting languages ​​and platforms, but do it with a fraction of the energy use we see today [across cryptocurrency transactions],” he said.

For all PYMNTS B2B coverage, subscribe to the journal B2B Newsletter.

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