Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)


Implementation of Blockchain Technology in Accounting Sphere

Author(s): Aleksy Kwilinski

Blockchain technology is inherent in the importance of accounting property - information in the database is reliable, truthful, regardless of the confidence of the counterparty. Transaction occurs only if it has been approved by all participants. With the help of network accounting can be translated into a secure, transparent for all parties and easy to use format. The introduction of technology in accounting has the following advantages: online transactions are high-speed and user-friendly; accounts can be updated using smartphone apps; optical data recognition systems allow you to automate the entire process, starting with the introduction of primary documents.

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