Utah-based online bookkeeping service firm Bookly has entered into a license agreement with blockchain-based company ULedger. With the agreement, Bookly will license ULedger’s proprietary Blockchain ‘ULedger Data Integrity’ and related technologies.

“Blockchain is a transformative technology and through our relationship with ULedger we are excited to be the first company to bring Blockchain to the accounting software industry,” Zach Olson, CEO of Bookly, stated.

Being an early mover software company in the blockchain ecosystem, ULedger aims to bring trust and transparency to data. It offers solutions to customers that require increasing levels of protection and integrity for current and future cyber threats and regulations.

According to Josh McIver, CEO of ULedger, information and data records that are stored on blockchain data structures are becoming the standard and due to this, all the information will be stored by eliminating the inefficiencies, lack of integrity as well as trust, and the single point of failure of traditional data bases structures.

“We are very pleased to announce this strategic licensing relationship which will greatly benefit both ULedger and Bookly, and most importantly, the transparency, integrity, and trust of Bookly’s client information,” McIver stated.