The document discusses Aurigraph, a fourth-generation mining-less distributed ledger technology (DLT) designed to address the inefficiencies of traditional double-entry accounting systems by implementing a triple-entry accounting method for real-time reconciliation, settlement, and auditing across enterprises. Aurigraph boasts high transaction speeds of 100,000 transactions per second and minimal latency, while being quantum secure and providing immutable records. It aims to eliminate the costs and risks associated with fraud and human error inherent in existing systems, targeting various industries including finance, healthcare, and supply chain management.

1. 4th Gen Mining-less DLT with
Realtime Reconciliation for
Enterprise

2. EVERY CFO ON
THE PLANET HAS A
RECONCILIATION
PROBLEM!
 For the past 600 years,
Double Entry Accounting
is de facto practice for all
businesses
 Reconciliation and
Settlement is time and
effort consuming
 Over 31% of OpEx
 Risk of Fraud and Error
remain
 Considered unsolvable
by technology.
DLT/Blockchain : Hype /Reality
Blockchain still remains a
solution looking for a problem
UNTIL NOW…

3. BLOCKCHAIN TECHNOLOGY UNSUITABLE FOR
ENTERPRISE APPLICATIONS
Poor Scalability
(<13 Trans/sec )
High Latency
(4 hrs -10 days )
Transactions not
listed in the
chronological order
(Lack of Atomicity)
Incorrect time
stamping:
• Transactions report PoW
time stamp, not
transaction time stamp
Prohibitive Mining
costs for Enterprise
applications
3

4. AURIGRAPH DLT IS BUILT FOR ENTERPRISES!
Business
• Triple Entry Accounting
reduces time and effort with
Real time Reconciliation,
Settlement and Audit across
enterprises
• Immutable records across
multiple ledgers
Technology
• Latency : 10-500 ms
• 78000- 100,000 trans/sec
• True Byzantine Fault
Tolerance
• True event time stamp and
chronologically listed
• Post-Quantum Secure
• Only DLT to support
attachments

5. BUSINESS PROBLEM WITH DOUBLE
ENTRY ACCOUNTING
Reconciliation and Audits
• High Time and Effort
Consuming
• High Human Error and Fraud
Risk
• Reconciliation handled in
Pairs only
Account for Over 31 % of
Operational ExpensesUnresolved for 600 years !

6. TRIPLE ENTRY
ACCOUNTING
 After each transaction, both parties
submit transaction detail to third
party
 Third party verifies each transaction
 Third party issues notarized receipt
to both parties as proof of
verification for audit
- Based on paper by Yuji Ijjri, Cornell
University, 1981-89
- Cryptographic model for Triple
Entry Accounting by Ian Grigg, 2005

7. AURIGRAPH DLT1. A Notary is randomly elected by the network in
<300 ms
2. Invoice
• “A” shares Invoice with “B” and encrypted hash with
randomly elected Notary
• Notary verifies transaction hash from both parties using
Homomorphic encryption without access to data
• Notary shares Encrypted Hash to all followers for
consensus
• Upon Consensus, Leader notarizes transaction and posts
to Ledger
• Transacting Nodes receive Notarized encrypted
receipts as a proof of transaction
1. Payment Reconciliation/Settlement
• “B” initiates Payment to “A” and shares Tracking ID
and Transaction hash with “A” and Notary for
Reconciliation with Invoice
• Notary reconciles payment against Invoice and shares
hash with network for consensus
• Notary posts transaction hash to Ledger after
settlement.
❑ Based on Triple Entry Accounting
principles
❑ Completely automated with no human
intervention
❑ “A” and “B” Nodes may integrate with
ERP/CBS for Reconciliation

8. AURIGRAPH NODES & LEDGERS
•Admin & Management
Dashboard for DApps,
Users, Nodes and Devices
•Microservices Architecture
•Only Encrypted
Transaction Hash stored,
no transaction data on
Ledger
•Graph Database for Real-
time analytics
(Reconciliation &
Settlement)
Ledger
•Remotely managed
Container with Aurigraph
Node, Redhat
Fuse/Apache Camel for
Integration with Enterprise
Applications
•Deployed in On-
Prem/Cloud
•Data submission , Approval
(Maker/Checker)
•Managed using Redhat
Openshift
Enterprise
Node
• Mobile or Desktop
Application for
•Data submission
•Approval
(Maker/Checker)
•Deployed on user
devices ( Android,
ioS, Windows,
MacOS and Linux)
Basic
Node

9. AURIGRAPH SOLVES 8 BLOCKCHAIN/DAGS BLOCKERS FOR ENTERPRISE
Scale and Speed
Unable to scale to deliver
OLTP (online transaction
processing) performance.
<10 TPS.
4 h -10 days latency
•Aurigraph -
> 100,000 TPS to deliver
OLTP performance
Latency : 50- 2000 ms
Mining
Blockchain requires 3rd party
mining to verify transactions,
with significant energy costs
Mining can cost $ 50-
100/Transaction in Bitcoin
Aurigraph is mining-less
and uses Application layer
Multicast protocol for
consensus with near Zero
cost
Latency and Atomicity
Blockchain has latency in
posting transaction details to
Ledger, while not listing
chronologically. Ledger lists
PoW/PoS timestamp, not
event timestamp.
Aurigraph updates Ledger
in real-time and is completely
“Atomic”, listing transactions
by the event timestamp
Security and Fraud
Blockchain is subject to
several enterprise issues such
as double-spend and 51%
fraud due to Latency
Aurigraph is quantum-
secure, immutable and
impenetrable
Inconsistent DAGs
DAGs have inconsistent
latency and atomicity for
Ledger updates.
Iota (a DAG) actual speed at
182-186/TPS
Aurigraph has consistent
latency and supports Atomicity
(chronological order of ledger
listing)
Private vs Public Networks
DAGs cannot handle dynamically
active nodes.
Fit for Private & Permissioned
Networks only
Aurigraph seamlessly manages
dynamically active nodes in both
Private and Public networks
Security Issues
Hashgraph propagates “plain-
text” data
IOTA’s crypto algorithm has had
breach issues
Aurigraph provides end-to-end
Post Quantum cryptography for
both transport and Data layers
Consensus Algorithms
Iota : needs 3rd party coordinator
to reference a 2 min milestone
Hashgraph: Gossip – 66%, fixed.
Aurigraph uses a programmable
consensus algorithm (51-90%), at
no transaction cost based on
Application Layer Multicast
protocol
Blockchain
Directed Acyclic Graphs

10. USE CASES
FINANCIAL SERVICES &
FINTECH
TELECOMMUNICATIONS PUBLIC SECTOR SUPPLY CHAIN
AGRICULTURE HEALTHCARE INSURANCE

11. GLOBAL TRACTION!
Banking
E-Governance
Education
Track & Trace
Supply Chain
Telecom

12. FINANCIAL SERVICES &
FINTECH
E-KYC
FOREX - Intra-day Balance
confirmation
ATM Reconciliation
Check Collection
Reconciliation
Credit Card Reconciliation
and Settlement in Real-time
Trade Finance
Real-time GL Balance
Confirmation

13. GOVERNMENT AND PUBLIC
SECTOR
Citizen
Services
eKYC
Direct Benefit Transfer
Decentralized Citizen Records in
DigiLocker
Business
Services
Permits Tracking
Tenders
Procure-to-Pay
Administrat
ion
Employee Tracking and Salary settlement
Asset Tracking and Geo-locationing
Bill processing and payments, Accounts
Reconciliation
Land
Records
Land Records, Plan Approvals, Water
Distributions, Waste Management,
Tax Assessment, payment and
reconciliation

14. SUPPLY CHAIN
Procure to
Pay
Order to Cash
Track and
Trace
Recall
Scenarios

15. TELECOM SOLUTIONS
Interconnect/ILD reconciliation
•High-volume Real-time reconciliation
and settlement for interconnect and
International Long-Distance
reconciliation settlement
e-KYC
•Customer KYC at signup with ID and
Address proof for account
enablement

16. AGRICULTURE
Spot Buying
Non-PO invoicing
Track and Trace
Crop Cycle
Management
Land Records

17. HEALTHCARE AND
INSURANCE
 Claim Reconciliation
 Case Tracking
 Secure Patient Records with
Audit Trail
 Clinical Research
 Order-to-Cash Tracking
 Recalls management  Claim Reconciliation
 Vehicle Maintenance Records
 Transfer of Ownership Records

18. UNDER THE HOOD
 Platform written in Java
 Quarkus runtime on Docker & OpenShift admin
 Network Consensus
 Post Quantum Cryptography
 Apache Camel/RedHat Fuse for Enterprise Integration
and Interoperability
Ledger Dashboard
Node

19. PATENTS
•U.S. Provisional Pat Application
Serial No.62778281
•Filed December 11 , 2018
A System and Method of
Executing, Confirming and
Storing a Transaction in a
Serverless Decentralized
Node Network with A
Distributed Ledger
•U.S. Provisional Pat Application
603_005US1
•Filed September 11 , 2019
DLT Solution, APPS, System
and Method for Oversight
of Cash, Taxation and
Materials in the Cannabis
Industry

20. AWARDS & RECOGNITION
Aurigraph won Rs. 100,000 award
at the DCB Bank Innovation
Carnival 2018
Aurigraph won Rising Star Award
at NASSCOM Annual Technology
Conference 2019

21. LEADERSHIP TEAM
Subbu Jois
Subbu Jois has been involved in start-ups as
Strategic Technology Leadership roles
involving Blockchain, DLT and Microservices
Platforms in Fintech, Retail, E-Commerce,
Healthcare and E-Learning verticals, having
built products, teams and organizations
over the last 30 years.
Subbu Jois has patents for Aurigraph and
other decentralized platforms and solutions
in fintech, healthcare, gaming, among
others
Subbu is credited with having implemented
the first e-governance solution for village
administration in 1999-2006 near Bangalore,
earning him recognition from UN-ESCAP
subbu@aurigraph.io
Sulieman A. Patel
Sulieman brings 33 years of diverse
and rich experience to the team. He
currently heads Sales in Africa and
Middle East for Aurigraph. His
experience spans several verticals
and technology sectors. He has held
executive roles in International
Banking, FOREX, Security and
Sustainable Smart Cities. Sulieman
also led the ICT transformation at the
rebirth of new South Africa in the
Gauteng province as the economic
hub of the country.
sulieman@aurigraph.io
Pankaj Mittal
Business transformation strategist with over
20 years of progressive leadership
experience .in the IT, Security and Telecom
industries in India and abroad.
He has worked with companies like SLK,
Ericsson, SingTel, Tata Communications,
and Vodafone etc. In his last corporate
avatar, he was the Head of Datacenter
for a large Telecom & prior being Chief
Technology Officer (CTO) for large global
BPO based at Pune. Speaks regularly in
India & Outside on Blockchain & emerging
Technologies.
pankaj@aurigraph.io

22. Vikram Pandya
Vikram is Director FinTech at SP Jain School of Global Management
where he has designed Asia’s first interactive classroom led FinTech
program featuring Blockchain, API Banking, AI/ML and IoT labs. He
has authored several white papers and articles on FinTech domain.
He has an extensive experience in banking, financial services,
Fintech, consultancy and training domain. He is also associated as a
mentor with various FinTech startups and Fintech focused funds
across the globe. He is Fintech ambassador for Maharashtra Govt.'s
Uday Fintech platform.
He is also heading research arm of Fintech VC Fund Varanium. He
has been a successful banker for more than a decade where he has
made key contributions in Financial & Investor Strategy, Business
Intelligence, Balance-sheet Management and Business
Development & Technology Solutions. He has been a visiting faculty
at various prestigious global institutes.
Gokul Alex
Engineer, Economist and Educator Experimenting with Exponential
Technologies. Currently working with PwC India as the Chief Architect
for Emerging Technologies and Education Platforms in Advisory
Services focusing on Government and Public Sector. GokuI has been
recognized as one among the Top 20 Global Thought Leader on
GovTech, EdTech & FinTech with expertise on AI, Analytics,
Blockchain, Big Data, Cybersecurity, Cloud, Data Science, IoT and
Quantum Computing by Thinkers360 Platform.
Gokul is a keynote speaker, moderator and panelist for numerous
technology conferences. Gokul has authored four patents &
published numerous articles & blogs. Gokul has reviewed a couple of
books on AI, Blockchain, Cybersecurity & Quantum Computing.
Gokul is an advisor to numerous Startups, Think Tanks, Governmental
& Non-Governmental Organizations, Social Networks, Regulatory
Bodies and Business Consortiums.
Mentors & Advisors

23. Q & A