Certified Accountants Say Blockchain Could Change the Way They're Paid
Blockchain could change the way accountants generate revenue, according to a report published yesterday by the Association of Chartered Certified Accountants (ACCA). The group, which boasts more than 180,000 members worldwide, said in its report that the kinds of services accountants provide may evolve depending on how the technology is adopted. These changes, the report's authors note, may impact the income of accountants as well. While the report notes that "it will take time" to see how distributed ledger adoption affects revenues for accountants, it does caution that....
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A new essay from the CEO of the International Federation of Accountants, an organization that boasts more than 2.5 million accountants and 179 member-organizations among its ranks, suggests that there is a growing belief in the industry that bitcoin technology could revolutionize fiscal and corporate governance. The article, penned by IFAC CEO Fayez Choudhury, posits that bitcoin presents both opportunities and challenges for accountants, and argues that accountants are uniquely placed to help determine the role that bitcoin will play in global finance. Choudhury suggests that bitcoin....
The four major accounting firms in the world are set to meet with the American Institute of Certified Public Accountants to discuss the establishment of a distributed ledger consortium. Known as the 'Big Four', Deloitte, Ernst & Young, KPMG and PwC will be looking at various Blockchain solutions for the accounting sector just as the R3 Consortium - which has over 50 members - has been doing the financial sector. R3 seems to have set a trend. R3 and over 15 of its consortium member banks recently successfully completed two prototypes which demonstrate how distributed ledger technology can....
PRESS RELEASE. Coorest, a Polygon-native project, is the first blockchain project to have a certified standard for carbon compensation entirely on-chain — allowing anyone with an internet connection to compensate for their carbon footprint, thereby demonstrating that the newly certified Coorest Carbon Standard (CCS) is an excellent alternative to other pre-existing standards. As a result of the new standard, all activities related to carbon compensation must be carried out through the blockchain; this ensures that all steps of the carbon compensation process are visible at all times....
The Denver Broncos is for sale, and a group of crypto aficionados is attempting to acquire it by raising more than $4 billion via a decentralized autonomous organization. The BuyTheBroncos DAO comprise some of the best minds in the business: legal counsels, financial experts, certified public accountants, software engineers, professional athletes, and a mathematician. So, […]
Even though, terms like 'mining' and 'blocks' are used in Bitcoin they may not be the best metaphors. For practical users, Bitcoin is better thought of as a network of private accountants. The accountants compete against one another in the world's fastest guessing game to maintain a ledger. When an accountant makes a correct guess they get to write a new page and receive a wage. The Bitcoin protocol enforces strict rules on the accountants. New pages follow a template. The accountant records a little "for office use only" information and fills the rest of the page with Bitcoin transactions....