double_entry

>> While this gem acts like a double-entry bookkeeping system, as it creates two entries in the database for each transfer, it does not enforce accounting rules. > And that seems like a far cry from things like "rejecting transfers if the accounts involved would exceed their net debit or credit balances". The READEME needs to be updated[1] for clarity. It doesn't enforce "accounting" rules, however The DoubleEntry gem has rules to optionally ensure a balance cannot go negative, and it also has an allowlist of allowed transfers ( which are defined by source account, dest account and code ). [1] https://github.com/envato/double_entry/pull/216/files > I think they key part is "distributed financial accounting database". For anything that didn't need to be distributed to handle massive volume of transactions I'd also pick Postgres, but I can

I'm not convinced by the seperate DB/API. Advantages for using Postgres ( assuming a double entry schema[1] ) and you're using Postgres for your main app db; - You can do financial transactions inside business db transactions, and roll back both atomically - Adding up numbers is one of the things computers are best at, and Postgres can easily handle a huge amount of financial transactions - Re-use PaaS Postgres hosting/scaling/clustering/backups - Easier integration with the rest of your app with foreign keys to relevant records relating to the financial transaction - Easy integration with BI tools given Postgres is well connectable [1] Roughy `account(id, cached_balance)`, `transaction_lines(src_account, dst_account, amount)` This gem does literally billions of dollars worth of financial accounting for various companies

This is pretty cool, I'd wonder how it compares to an open source accounting library like double_entry. I guess I'd be hesitant to integrate with an external service if I could accomplish the same thing with a library. Have no idea if there's a market for this (I'm certainly not a customer), but something none of these libraries are set up to do is convert these balances to erc-20 tokens. The combo of a SaaS with a simple API like this and a trusted mint to sync balances to erc-20 tokens could be interesting. [0]: https://github.com/envato/double_entry