Welcome to Veritas Mazars
Trust Through Transparency
Read more
Welcome to Veritas Mazars
Trust Through Transparency
Read more

About us

The Fourth Industrial Revolution (4IR) gave rise to technologies such as artificial intelligence (AI) and blockchain that will forever change the way we live, work and do business. At Mazars, we’re stepping up to the challenge of auditing cryptocurrencies and understanding digital assets.

Over the last decade, blockchain and its use of a distributed ledger has demonstrated its ability to disrupt the financial sector to create various initiatives by both businesses and entrepreneurs. This new and unique industry has catalysed the need for a traditional audit, tax and advisory service providers to also adapt in order to serve clients who operate in the cryptocurrency space.

Within Mazars, we have built sector specialism and expertise to provide businesses in the crypto sector with audit, tax, accounting and advisory services. After realising the potential that the industry has, we invested ample time into truly understanding blockchain technology. This allows us to add real value to our current and prospective clients who operate in this unique industry as well as to provide stakeholders with the quality assurance represented by the Mazars brand.

Mazars Veritas

Proof of Reserve (“PoR”) Reports brings trust and transparency to the digital asset sector, which is why Mazars has developed the Veritas service offering that allows us to bring credibility to the industry represented by the Mazars brand. Our service offering utilises our Silver Sixpence Merkle Tree Generating tool to compliment the PoR Report and allows virtual asset service providers’ clients to independently and cryptographically prove that their assets formed part of the PoR.

Don’t Trust, Verify

What is a Merkle Tree

A Merkle Tree is a privacy-preserving data structure that uses hash proofs to store and manage large datasets. It uses these hash functions to construct layers of nodes that build a tree-like structure with several layers of decreasing size, until only a single node remains. This node is called the Merkle Root.

A Merkle Tree allows any exchange user to independently and mathematically verify that his balances were included in the total sum of all liabilities that were made available to the auditor. For more information about the code that were used to construct the Merkle Tree, and for detailed steps on doing your own client verification, visit silver sixpence merkle tree

Proof of Reserve Reports & Merkle Tree Verification

Coming Soon

Proof of Reserve Reports play a valuable role in creating a safer investment environment for all cryptocurrency investors and consequently bolsters the credibility of the industry. Our clients’ decision to verify their reserves and be transparent about their assets instantly brings a level of trust to an industry perceived to be opaque and complex. Hopefully this trend of social responsibility towards investors and customers will be followed by other digital asset service providers, and in turn boost the credibility of the industry.

Wiehann Olivier, Partner and Digital Asset Lead