Top tier accountants Harris & Trotter LLP is to provide third-party attestations to Chainlink Proof of Reserve. By providing independent attestation data around assets, wallets, and more, it says that it will be able to support a vast array of Proof of Reserve feeds and unlock advanced use cases. Ultimately, this will help provide greater assurances to key stakeholders in the digital asset community. Moreover, it will drive the mass adoption of tokenised real-world assets.
Harris & Trotter entered the digital asset space in 2017. Since then, it has become one of the largest accountancy firms in the digital asset space. Specifically, it serves in excess of 400 crypto-native organisations such as 1inch, The Sandbox, and Blockchain.com. To better serve its clients, it has developed a number of signature in-house tools. These include a signature matching tool for wallet ownership/control tests to an NFT royalties audit script.
Delivering Real-Time Attestations Onchain via Chainlink Proof of Reserve
Chainlink Proof of Reserve is available for both off-chain assets and cross-chain assets. This feed is a type of offchain reserves feed with data provided by a third party, in this case Harris & Trotter. Harris & Trotter calculates the value of both fiat and investment assets stored offchain is calculated by Harris & Trotter which then attests to the total value of reserves. This figure is sourced from APIs through an external adapter and reported onchain.
According to Harris & Trotter, it has developed an automated solution. This enables Chainlink Proof of Reserve to easily pull its independent attestation data onchain. These attestations include verifying wallet balances, collateral backing onchain assets, and more. Ultimately, these feeds can support everything from enabling investor due diligence to triggering onchain circuit breakers.
Chainlink Proof of Reserve: core infrastructure providing transparency to boost mass adoption
“We’re excited to be providing independent attestations to Chainlink Proof of Reserve,” said Nicholas Newman, Partner at Harris & Trotter & Head of Digital Assets. “Chainlink Proof of Reserve is core infrastructure that provides the transparency needed to scale onchain finance to mass adoption.”
“We’re pleased that Harris & Trotter will be delivering third-party attestation to Chainlink Proof of Reserve,” added Max Melcher, Product Manager at Chainlink Labs. “Proof of Reserve provides the onchain finance ecosystem with hyper-reliable, high-quality, and transparent data needed to provide users with stronger assurances about the collateral backing onchain assets.”
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