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365 Days of Reflection

An Epicenter of Innovation, Insight & Infrastructure.

It’s been a couple of weeks since the US Personal Income Tax Filing Deadline in the United States, and now that the dust has begun to settle we thought we’d take a moment to reflect. As it turns out, a lot has happened with Libra and digital currency accountancy during the past year…

We’ve integrated with just about every major Bitcoin wallet and/or exchange.

One of the biggest requests we’ve seen from our users was “Do you all work with my wallet/exchange?” As a result, almost every week this year, we’ve spent development resources integrating with one wallet/exchange after another. Our growing list of integrations now includes CoinbaseBitPayCircleBlockchain.info, and many more. We also developed a standard generic import template that can be customized to allow our users to add their transactions from many other wallets and exchanges.

We extended our platform to provide basic support to countless numbers of alt coins.

A user can add any number of alt coins to our platform to be able to see the same types of accounting, reporting and tax compliance features that they would see with a popular digital currency like Bitcoin. This enhancement allows us to rapidly adapt to many new alt coins as they are issued, providing full and comprehensive support across the digital currency spectrum.

Our users that run businesses accepting Bitcoin needed something a little more powerful, so we partnered with BitPay and built Libra Business™.

Unlike individual users who file tax returns annually, businesses often file much more frequently. Only having access to annual reporting of their digital currency transactions just wasn’t enough. Libra Business gives businesses exactly that, and then some. Not only do Libra Businesses gain the granularity of monthly reporting, we also added several additional reports that give detailed high-altitude views of everything a business needs to know in relation to digital currency and their accounting needs.

Our users that are CPAs and tax professionals needed a way to manage their digital currency clientele, so we built Libra Pro™.

Before there was Libra, almost any digital currency user could relate to how complicated it was to account for one’s digital currency transactions. Shortly after we released LibraTax™ for Individuals, we soon quickly found out that this was even more exponentially complicated for the accounting industry. With Libra Pro, CPAs and tax professionals are now enabled to manage all of their digital currency clientele from one place.

Our individual and business users were often asking about how to connect with tax professionals, so we linked them together with Libra Connect™.

There are a large of amount of complex situations where no one other than a licensed tax professional such as a CPA is going to be qualified to give advice. Often, our users ask us if we can help them get in touch with a pro to help resolve their various accounting needs. As a result, we enhanced our platform so that at any point in time, a user can connect with a qualified professional in our accounting network, with just a few simple clicks.

We looked at the future.

This past year one of our team members, Danetha Doe began an all-new video series called The Future of Money. This series explores exactly that, offering weekly interviews with industry experts and professionals ranging from Accountants, Digital Currency Thought Leaders, prominent members of the Bitcoin community and more. We’re several episodes in and the new videos keep on coming. Stay tuned by checking our blog each week for new episodes, or follow us on Twitter and we’ll let you know as each new one becomes available.

We started providing support on demand.

One of the things we have always loved about the digital currency space is the sense of community and closeness with which people all around the world are able to reach out to one another. We wanted to replicate this at Libra, so in addition to enabling our users to connecting with various accounting and tax professionals specializing in digital currency, we enabled a new feature that allows any of users at virtually any time of day, to connect directly with us for free support on demand.

We were in the news.

This past year you might have noticed us in the news. A CNN Money correspondent featured us and famously noted how he was able to take care of everything he needed for taxes in “about 10 minutes” with Libra. Barron’sThe Wall Street JournalUpstart Business Journaland several others also picked us up and featured us this past year with articles and mentions.

Our Founder & CEO, Jake Benson was on stage speaking throughout the year.

This past year Jake went on stage in several places, most prominently as a featured speaker at SXSW Interactive where he made such an impression that Barron’s wrote a feature on his presentation. Another presentation of note was just a few months ago, when BNY Mellon invited Jake to give a presentation at their innovation lab, where he gave a speech about the tax implications of Bitcoin trading. This was just a couple weeks before The Wall Street Journal picked up on the fact that BNY Mellon has actively been developing and researching technology based on Bitcoin tech. In the midst of these events, Jake also managed to squeeze in a live presentation at University of California Berkeley, and a tax-time Q&A to help filers from all over with the Digital Currency Council and About.com.

We grew out of our website.

As the past year unfolded, one thing we became particularly aware of was how our website where we feature all of our content, products, and updates was starting to get a little small. We’d expanded into three products (with more on the way), multiple features, and several content paths that our users would follow to find exactly what they need. So with that said, we’re happy to announce this new website you’re on!

And last but not least, we often thought about how thankful we are for you, our users, for your continued feedback and support! Cheers to another year! 🙂