<abstract xmlns="http://www.w3.org/1999/xhtml">

<p>Blockchain remains still an experimental technology, with current applications addressing only some elements of small-scale projects. Once the technology matures however, it has the potential to transform industries and even the economy, as it begins to integrate complementary technologies such as AI and IoT. It has the potential to bring fundamental changes to financial accounting and auditing, and even to entire financial markets. This paper explores the potential for blockchain applications in accounting, identifying major benefits and shortcomings, and analysing opportunities and possible threats. We investigate mainly the organizational challenges raised by an accounting blockchain systems and its potential to enhance the accounting activity. We discuss blockchain’s potentially disruptive effect on the accounting profession, and conversely, the potential role of this professions in further developing blockchain technology.</p>
</abstract>

Blockchain remains still an experimental technology, with current applications addressing only some elements of small-scale projects. Once the technology matures however, it has the potential to transform industries and even the economy, as it begins to integrate complementary technologies such as AI and IoT. It has the potential to bring fundamental changes to financial accounting and auditing, and even to entire financial markets. This paper explores the potential for blockchain applications in accounting, identifying major benefits and shortcomings, and analysing opportunities and possible threats. We investigate mainly the organizational challenges raised by an accounting blockchain systems and its potential to enhance the accounting activity. We discuss blockchain’s potentially disruptive effect on the accounting profession, and conversely, the potential role of this professions in further developing blockchain technology.

Blockchain – the accounting perspective

Proceedings of the International Conference on Business Excellence

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

{"article-title":"Blockchain \u2013 the accounting perspective"}

Blockchain remains still an experimental technology, with current applications addressing only some elements of small-scale projects. Once the technology...

Blockchain – the accounting perspective

Publicado en línea: 27 jul 2020

Páginas: 214 - 224

DOI: https://doi.org/10.2478/picbe-2020-0020

Palabras clave
Blockchain, Accounting, Decentralization, Trust, Smart contracts, Security

© 2020 Irina Bogdana Pugna et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Blockchain – the accounting perspective

Publicado en línea: 27 jul 2020

Páginas: 214 - 224

DOI: https://doi.org/10.2478/picbe-2020-0020

Palabras claveBlockchain, Accounting, Decentralization, Trust, Smart contracts, Security

© 2020 Irina Bogdana Pugna et al., published by Sciendo

This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.

Palabras clave
Blockchain, Accounting, Decentralization, Trust, Smart contracts, Security