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Posted by The purpose of this article is to describe in detail how to create a static asset declaration that includes a description of the user’s assets at a specific point in time. Unlike a comprehensive asset declaration, a static asset sub-account, which serves as a container for the static asset declaration, only includes a listed inventory of assets at a given moment. It does not address the history of how the assets were acquired. It is merely a static snapshot of what the user’s assets looked like at a certain time—typically the current date.
We assume that the user has successfully completed registration and is logged in with their user account. In order for the user to fully utilize the system’s features—such as auditing other users—they must be verified (i.e., their information must be checked by a Backoffice staff member of the portal). Whether a user is verified can be found under My Data / Dashboard. Additionally, their data must be included in the blockchain part of the system.
Let’s assume the following list of assets the user wants to enter into the system:
Assets:
- A house with a purchase price of 200,000 EUR, current value 300,000 EUR
- A 3-room apartment with a purchase price of 630,000 SKK, current value 120,000 EUR
- A car with a purchase price of 18,000 EUR
- Money in a bank account in the amount of 20,000 EUR
Liabilities:
- A mortgage in the amount of 150,000 EUR, with 100,000 EUR still outstanding
The very first thing that needs to be done in the system is to create a STATIC asset sub-account, which will later contain the asset data.
Click on Assets Subaccounts. Then click on Add Asset Subaccount
We create a new STATIC asset subaccount as follows:
In the first field, we enter the name/label of the asset subaccount – I chose the value May 2025 to make it immediately clear that this is a list of assets as of May 2025. In the second field, I selected the value All Assets, to indicate that this subaccount may potentially contain entries of assets or liabilities of any type – that is, both assets and liabilities – essentially all types of property that exist.
In the third field, I selected the value ending in STATIC, which indicates the usage type of the subaccount. I left the Parent subaccount field empty, meaning this subaccount is a first-level subaccount in the hierarchy and is not nested under any other subaccount. This isn’t important for now.
Next, I selected the Euro (EUR) currency and set the priority to a value of 100. Priority determines which subaccount is considered the most important among all subaccounts. The lower the number, the higher the importance of the subaccount. We set it to 100.
After creating the asset subaccount, we proceed to the List of Assets.
The following is displayed:
Click on Add asset. The following appears:
From the offered list, we select the asset subaccount we just created — that is, May 2025.
Click on Next.
The following screen appears:
We’ll start by entering the first asset — a house (bungalow) located in Nitra.
Entering its details might look like this, for example:
For the label (i.e., the name or tag), we chose the value House near Nitra.
The asset type was set to House, and the acquisition date to September 1, 2017.
The method of acquisition was set to purchase.
The purchase price was €200,000.
We also entered information indicating that the house has appreciated in value — in the “Lastly priced at” field, we entered today’s date (2025-05-10) and a current value of €300,000.
In the Estimation basis field — which defines how the system calculates the asset’s value — we selected an option that tells the system to treat the house’s value as €300,000 from today onward.
Choosing a different option would cause the system to estimate future value growth based on the historical increase since 2017 (i.e., a €100,000 rise). For example, by the year 2032, the system might linearly project the house’s value to be 50% higher than €300,000.
Click Create asset.
You are then redirected to the following screen:
We are now on the list of asset records screen, where we can see a single entry representing the house we just created.
The Status column can contain two values:
- N – New, active asset record
- D – Deleted asset record
If we now look at the charts Asset Overview and Asset Growth, we will see the following:
The most interesting chart is the Asset Growth chart. It contains two columns: one for the year 2017 with a value of €200,000, when we purchased the house, and a linear increase in asset value up to 2024 reaching €300,000.
The system calculated it this way because we entered the current asset value as €300,000. Therefore, when the system calculates the asset value for, say, 2018, it does so proportionally based on the fact that in 2017 the value was €200,000 and in 2024 it will be €300,000.
We could have left the current value field empty — it is not mandatory. In that case, the system would have displayed the current value of the property as €200,000 even in 2024.
The next records will be entered as follows:
The asset charts after entering this data will look as follows:
After entering all the records, we review everything once again, and if we are satisfied with the status, we can proceed to publish the asset declaration into the auditing module.
We go to the appropriate menu on the left, select all 6 records (5 asset records and 1 asset subaccount record), and click Issue transactions.
The transactions will then be generated, and within 5 minutes after the creation of the next blockchain block, the asset records should be visible in the auditing module.
In other words, until we perform this operation, other users will not see our asset records when attempting to audit us. So, it’s important not to forget this step.
What others see in our auditing module can be viewed by ourselves by going to the People section in the system, clicking on our record, and selecting Request audit.
After that, we can view our data in the auditing module — the same data other users with audit rights will see when auditing us.
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