Blockchain Technology in Accounting
If you’re reading this, you’ve probably heard of blockchain technology. It’s perhaps the most talked-about topic in business right now. Even if you’re not as familiar with blockchain as you should be, you’ve probably heard of Bitcoins. Bitcoins were the first application of blockchain technology. They transformed the financial sector and how businesses conduct transactions. Blockchain technology is one of the most disruptive and revolutionary technologies to have emerged in the past few decades. It’s that big of a deal. This article explores how blockchain technology in accounting has transformed the sector. You’re about to discover what it is, why it’s so disruptive, and how it’s already impacting accounting. However, you can check our other articles on blockchain technology before you proceed. So, let’s get started. What is Blockchain Technology? Blockchain is a type of digital ledger. It’s a digital record of everything that takes place in a certain period. Why are ledgers imp...