Blockchain has great potential to enrich the accounting industry by reducing the costs of upholding and reconciling ledgers and providing unqualified certainty over the ownership of assets. Furthermore, it will free up resources to concentrate on planning and valuation, rather than just plain bookkeeping.
Blockchain is a software platform for digital assets. It is a continuously growing record of online transactions.
Potentially, the accounting industry is under the threat of radical transformation, but that need not be a detrimental thing. The uses of the software will allow greater understanding of the transactions that have occurred already.
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