Whether the future brings a crypto boom or crises, new technologies or a revival of existing thoughts, we cannot say. Yet we can tell you what's in the scope of our vision for Blockpit. With a strong focus on the development of the platform, future projects are designed to create the best product and service for our customers, providing state of the art technology and features that target the customers' needs. With adding more features to the platform, Blockpits service is able to expand to new markets. The expansion at first is focused on Europe, extending the service to the US and Asia as the time comes.
Development of the Blockpit platform
While the product at the time being provides a smoothly running software for calculating cryptocurrency taxes and portfolio monitoring, technology already offers new possibilities in terms of performance, data security and business solutions.
First of all, the range of features for private consumers will be extended with Blockpit's API release. Furthermore, our developers are working on the automated import for special cases such as airdrops, hardforks or staking. Although additional features might help users to set up their own portfolio or calculate their taxable incomes, we are going a step further with including a Blockpit ecosystem to match crypto traders with tax consultants. The web and mobile app will also include further wallet imports, real-time portfolio monitoring and overall performance optimization.
Together with research partners the next big project aims to develop a zero knowledge proof. Blockpit's approach for that matter allows greater data security for platform users as user information is processed in an insulated and autonomous system, the enclave. You'll find more detailed info on our zero knowledge approach in a later blogpost.
Expanding to new markets
With a fully functioning platform including benefits like automated imports or data security through zero knowledge proofs, Blockpit is ready to expand to markets outside the DACH region. After Austria, Germany and Switzerland Blockpit's tax alliances will expand to more European countries with the vision to set a standard for crypto taxation in Europe. One step taken to reach this goal is the release of an asset economics tool which will aid companies using distributed ledger technologies to monitor their digital assets and report their crypto taxes. This allows Blockpit to reach another audience, making it possible to scale the platform for a worldwide market.
Already there are many cooperations and partnerships with tax authorities in Austria and Germany. Those alliances will be carried forward and extended in Europe, Asia and the US. On the one hand to gather relevant feedback and provide a compliant solutions for both private users and companies, on the other hand to integrate the platform in existing tools offering customers a smoothless handling of their cryptocurrencies in the existing financial framework. In particular, the web app shall be integrated in predominant tax softwares like in Austria's FinanzOnline, which is already under discussion.
"The market potential for Blockpit is ever increasing as regulators and governments enter the crypto market. Regardless of market developments, every party involved with cryptocurrencies has to monitor their portfolio and pay taxes on profits at some point in time. Blockpit will offer them a solution," says Florian Wimmer, CEO at Blockpit.