Advantages vs disadvantages in blockchain technology for accounting and auditing
Date
2022-05
Authors
Chaudhary, Abdullah
Major Professor
Townsend, Anthony
Advisor
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NA, NA
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Publisher
Altmetrics
Abstract
Blockchain technology is one of the hottest emerging technologies for many common industries. It has introduced a vast amount of research and development regarding its use due to how revolutionary it is. Bitcoin is a typical example of a cryptocurrency that uses blockchain technology.
This paper goes through what blockchain is and how it matches the agendas of the accounting and auditing industry. It explores the old functions of accounting and auditing and how blockchain technology transforms them.
This study will go through the protocols of accounting blockchain systems. It will also address the implications, threats, and ways to mitigate the new threats that come with the acceptance of blockchain technology.
In the end, there will be a feasibility test on whether a blockchain system is really needed and what sort of circumstances or company types that can benefit from blockchain technology or suffer detriments from it.
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Type
creative component
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Copyright
2022