Blockchain: The Building Block to the Future of Accounting

Egiyi, Modesta Amaka and Okafor, Victor I. (2021) Blockchain: The Building Block to the Future of Accounting. European Journal of Finance and Management Sciences, 5 (3). pp. 1-8. ISSN 2754-4109

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This study was carried out on the opportunities blockchain has for the future of accounting. First, blockchain was studied and its concept explained. We looked at the different types of block chain; permissionless blockchain, permissioned blockchain, federated and hybrid blockchain and how each and every one of it works. The benefits and implications of blockchain was analyzed. The benefits being that it offers a more secured database for every transaction, reliable and fast for dealing with big data. One of the implications being the threat of cybercrime, fraud and many other internets scam. Its basic role to the future of accounting was analyzed and in conclusion, blockchain has a huge role to play in the future of accounting.

Item Type: Article
Subjects: H Social Sciences > HG Finance
Depositing User: mrs chioma hannah
Date Deposited: 18 Aug 2022 09:41
Last Modified: 18 Aug 2022 09:41

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