IDdriven: Blockchain Technology will Change the Audit Process

January 09 13:00 2018 Print This Article

SACRAMENTO, Calif., Jan. 10, 2018 (GLOBE NEWSWIRE) — IDdriven, Inc., (OTC:IDDR), an innovative provider of cloud-based Identity and Access Management (“IAM”) services, provides an update on its work with Blockchain technology.

IDdriven has conducted work into how blockchain technology can improve, automate and de-centralize audit processes and trails, and how to further improve its Identity and Access Management services.

Due to the immutable characteristics of blockchain networks, IDdriven is planning a service which makes it impossible for anyone, including directors, high clearance employees and even auditors to tamper with audit processes and results. This will revolutionize the audit process.

At the same time, IDdriven aims to make it easier for auditors to perform their tasks and checks by integrating them into business processes without the need for auditors to be on-site, or in constant contact with the company. This technology enables auditors to detect fraudulent actions and other compliance issues before and/or while they are happening, instead of months after they have happened as often is the case under current practices.

The application of blockchain technology that IDdriven sees in this process could automate part of the auditor’s job and immediately report, and if needed, stop any wrong doing.

This exciting new technology will draw both auditors and enterprises closer together, more than ever before, in order to eliminate fraud, corruption and compliance issues.

Arend Verweij, CEO of IDdriven, Inc. stated: “We feel that blockchain can help to decentralize some of the trust that is put into a company’s internal processes to prevent fraud and leaks by integrating auditors more effectively in the compliance process and creating an immutable trail of actions, decisions and policies powered by blockchain.”
                                                                                               
About IDdriven 

With its next-generation IDaaS program of the same name, IDdriven, Inc. is at the forefront of the new breed of Identity Management and Access Governance solutions. The company is currently researching and developing a solution for enterprises aimed at helping enterprises utilizing the benefits of consortium based blockchain and their frameworks. Taking the complexity and upfront costs out of implementation, IDdriven automates access security for vulnerable company assets by seamlessly integrating with the solutions from Microsoft, and other cloud providers like Amazon. Founded in 2013, IDdriven is headquartered in Sacramento, California. To learn more, visit: www.IDdriven.com.

Forward-Looking Statement Disclosure
This news release contains “forward-looking statements.” Such statements may be preceded by the words “intends,” “may,” “will,” “plans,” “expects,” “anticipates,” “projects,” “predicts,” “estimates,” “aims,” “believes,” “hopes,” “potential” or similar words.  Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various known and unknown risks and uncertainties, many of which are beyond IDdriven’ s control, and cannot be predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i) commercialization of our software program s, (ii) development and protection of our intellectual property, (iii) industry competition, (iv) we may need to raise capital to meet business requirements.  More detailed information about IDdriven and the risk factors that may affect the realization of forward looking statements is contained in our filings with the Securities and Exchange Commission which are available on our website and at www.sec.gov. IDdriven assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.

Company Contact
E: [email protected]
T: 415.226.7773 

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About Article Author

Jonathan Yaniv
Jonathan Yaniv

Jonathan is the founder and editor-in-chief of TrustedNerd.com. Covering major tech shows such as CES, Jonathan is always there for the latest tech news. Want your gadget to be reviewed or have a release you'd like to be considered for publishing? Send Jonathan an email, jonathan [at] trustednerd.com

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