We aim to be the leading blockchain native accounting, reporting and insights solutions provider built on principles of governance, transparency and simplicity.
The inspiration for CrunchSpark came from the need to solve very common challenges in the crypto world- accounting, reporting and data analytics for high volume transactions of complex digital assets.
In a world of bored apes NFTs and yachts in metaverses, there is often little focus on comparatively dull finance issues that are foundational to the governance standards required for mainstream adoption.
Trillions of dollars of digital assets have been created and co-exist within the traditional financial system, yet most financial processes remain manual and fragmented.
How can institutional investors fully engage in this nascent sector without the proper infrastructure and frameworks to give them a true and fair view of these businesses?
In 2004, I joined a hedge fund accounting team at JP Morgan after leaving Deloitte. It was mind boggling then that the systems at a bulge bracket bank were still based on mainframe architecture built in the 1970s.
It’s even crazier that almost 20 years later, when in senior finance and operational roles at fast growing blockchain businesses, I found the same CSVs and spread sheet driven processes still being used.
Such businesses have grown from humble beginnings into multi billion companies in a very short period of time, to become early leaders in digital asset exchanges, blockchain gaming, NFTs, the metaverse and Web3. Yet their finance functions need to catch up.
Having worked in both traditional finance and start up crypto businesses, I can appreciate the need for the higher standards required of regulated entities but using a balanced approach to avoid stifling innovation.
Around the same time, covid-19 played a big part in accelerating the adoption of remote working practices, going hand in hand with the decentralised ethos of blockchain.
It made sense to build a network of finance professionals to support fast growing Web3 businesses, to learn from their challenges, and then build the infrastructure to form the backbone of a future more decentralised world.
CrunchSpark Technology Limited (“Company”) is incorporated in Hong Kong with Company Registration Number 3103780.