{"id":3879,"date":"2020-02-18T15:41:33","date_gmt":"2020-02-18T06:41:33","guid":{"rendered":"https:\/\/wealth-park.com\/?post_type=wealthpark&p=3879"},"modified":"2020-08-11T18:46:04","modified_gmt":"2020-08-11T09:46:04","slug":"creating-a-decentralized-database","status":"publish","type":"wealthpark","link":"https:\/\/wealth-park.com\/sc\/wealthpark-blog\/creating-a-decentralized-database\/","title":{"rendered":"Creating a Decentralized Database for Alternative Asset Investments – Starting with Digitizing Cash Flow Statements (CFS)"},"content":{"rendered":"

\u5bf9\u4e0d\u8d77\uff0c\u6b64\u5185\u5bb9\u53ea\u9002\u7528\u4e8eEnglish<\/a>\u548c\u65e5\u672c\u8a9e<\/a>\u3002 For the sake of viewer convenience, the content is shown below in one of the available alternative languages. You may click one of the links to switch the site language to another available language.<\/p>

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The world\u2019s economy is based on trust.<\/span><\/p>\n

A transaction, in its simplest form, happens because the paying customer trusts the provider to provide a service or goods in exchange for money, and the provider trusts the customer to make a payment for the service or goods provided. And the world\u2019s economy is basically made of many complex combinations of trust based transactions between money, services, and goods. Since an economy thrives if the transactions are fluid and stagnates if the transactions are slow, then we can also say that an economy thrives if the trust levels in the transactions are high, stagnates if the trust levels are low.\u00a0\u00a0<\/span><\/p>\n

The team at WealthPark strives to maximize the return for our alternative asset investors on our platform by accelerating the fluidity of the market. We believe this is highly achievable by advancing a decentralized database of alternative asset investments. With the right technology and the right business practises, having a single source of truth for alternative asset investments means trust will never be a bottleneck.\u00a0<\/span><\/p>\n

This brings us to today\u2019s topic. The first major milestone in the journey is to first make sure that cash flow statements (CFS) are being recorded digitally by our platform users. To do this will require our product to be simple and easy enough to input and consume information, so that our platform users will happily move away from the traditional way of paper based information exchange and make the jump to digitized experiences.\u00a0<\/span><\/p>\n

On our platform, there are currently several ways for the property managers to input CFS data before publishing to the investors for consumption:\u00a0<\/span><\/p>\n

    \n
  1. Importing general ledgers<\/span><\/li>\n
  2. Manually input on the CFS table<\/span><\/li>\n<\/ol>\n

    And there are also several ways of publishing the data<\/span><\/p>\n

      \n
    1. Pressing the publish button will publish the data digitally to mobile app for the investors, where they view digitally or download as files<\/span><\/li>\n
    2. Pressing the export button will allow the property managers to download as files so they can send over to the investors on our platform<\/span><\/li>\n<\/ol>\n

      We have been measuring usage data and receiving valuable user feedback regarding the CFS inputting and consuming experience, and believe there are many areas for improvement. Here are some changes that we will bring to the platform in the upcoming months (not by order):<\/span><\/p>\n

        \n
      • CFS format will be easier to read for the investors<\/span><\/li>\n
      • Inputting of large amount of CFS data will be easier via file imports and import file size limit improvements<\/span><\/li>\n
      • Investors will be better informed when new CFS data is available<\/span><\/li>\n
      • Property managers will receive better in-depth insight of actionable KPIs<\/span><\/li>\n<\/ul>\n

        The world that we envision only happens when our property managers and investing users thrive on our platform, and we continuously value and welcome feedback that will make your everyday experience on our platform better. Thank you for being part of this journey and we will keep pushing out product updates to keep you informed.<\/span><\/p>\n

         <\/p>\n

        2020.01.21 Seth Luan<\/span><\/p>\n

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