Topic: Future of accounting under the technique of blockchain (Read 159 times)
I know that there are some services here online, that called mixers, making bitcoin transactions almost unreal to give account.
Blockchain is fundamentally an accounting technology as it has the potential to increase the efficiency of the process of accounting for transactions and assets, operating as a system of universal entry book keeping.One of the important thing is all transactions and records are permanent, unable to be tampered with.
As we all know, the technique of blockchain can record the transferration of cash. Therefore, it is said that accounting is facing a threaten.
However, I think it's not that easy for computers to replace all accounting works.
Accountants' work is to reduce the risk of fraud. Unless there's no risk of fraud, there is a necessary for the exist of accountants.
To replace accounting staff and accountants, we have to popularize the technique of blockchain. Else, the cross checking effect won't be well, and the risk of fraud exists.
These are my point of view of the future of accounting. All discuss is welcome.
However, I think it's not that easy for computers to replace all accounting works.
Accountants' work is to reduce the risk of fraud. Unless there's no risk of fraud, there is a necessary for the exist of accountants.
To replace accounting staff and accountants, we have to popularize the technique of blockchain. Else, the cross checking effect won't be well, and the risk of fraud exists.
These are my point of view of the future of accounting. All discuss is welcome.
I think accounting is different in a blockchain technology. Based on my understanding on blockchain, it is where the transaction being processed online through decentralized technology and accounting is different from it. Accounting is only a process where monetary or the funds being held and counted to avoid fraud and cheating. Yet the two share the same aspect and that is to held accountable on the transactions of people online and in real world.
I am sure that the future of accounting can somehow be affected by the blockchain technology but it does not mean that accountants can be totally replaced...though one thing is sure is that the accounting system that we know of can be greatly enhanced by the blockchain as there would be lesser fraud and manipulation. I have already seen some ICO projects applying the blockchain on the accounting framework and am sure they can be game-changing.
Among the many disruptive technology trends impacting the way we do business, blockchain is one lesser known within the accounting community. However, given its potential impact, blockchain is certainly not a trend that accountants can afford to overlook any longer.
Defined as an open, distributed ledger, blockchain technology records and verifies transactions without any trusted central authority. The technology itself exists as a file that maintains a continuously growing list of ordered records called blocks. Each block contains a timestamp and a link to a previous block using a “fingerprint”. Blockchains are resistant to modification of data and cannot be altered retroactively.
Defined as an open, distributed ledger, blockchain technology records and verifies transactions without any trusted central authority. The technology itself exists as a file that maintains a continuously growing list of ordered records called blocks. Each block contains a timestamp and a link to a previous block using a “fingerprint”. Blockchains are resistant to modification of data and cannot be altered retroactively.
As we all know, the technique of blockchain can record the transferration of cash. Therefore, it is said that accounting is facing a threaten.
However, I think it's not that easy for computers to replace all accounting works.
Accountants' work is to reduce the risk of fraud. Unless there's no risk of fraud, there is a necessary for the exist of accountants.
To replace accounting staff and accountants, we have to popularize the technique of blockchain. Else, the cross checking effect won't be well, and the risk of fraud exists.
These are my point of view of the future of accounting. All discuss is welcome.
However, I think it's not that easy for computers to replace all accounting works.
Accountants' work is to reduce the risk of fraud. Unless there's no risk of fraud, there is a necessary for the exist of accountants.
To replace accounting staff and accountants, we have to popularize the technique of blockchain. Else, the cross checking effect won't be well, and the risk of fraud exists.
These are my point of view of the future of accounting. All discuss is welcome.
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