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Registers of beneficial owners based on blockchain technology: Implications for the accounting profession

Author

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  • Gilmour, Paul
  • Pandey, Durgesh
  • Goldbarsht, Doron

Abstract

Central registers of beneficial owners are fraught with legal loopholes, and trust, privacy, and verification issues that devalue accountants' anti-money laundering compliance efforts. Yet, central registers have become important policy tools for governments in enhancing corporate transparency. We propose a blockchain-based solution that provides a more open, verifiable, and secure framework for registering beneficial ownership information, while ensuring greater transparency and trust. This paper examines the role of blockchain technology within registers of beneficial owners and highlights important implications for the accounting sector. We offer a fresh perspective into how blockchain technology supports company disclosure and contribute new insights into research on ‘digital trust’. This paper bridges the gap between the conceptual and real-world implementation of registers of beneficial owners and promotes a more nuanced understanding on how new digital infrastructures impact accountants' compliance responsibilities.

Suggested Citation

  • Gilmour, Paul & Pandey, Durgesh & Goldbarsht, Doron, 2025. "Registers of beneficial owners based on blockchain technology: Implications for the accounting profession," Technological Forecasting and Social Change, Elsevier, vol. 214(C).
    • Handle: RePEc:eee:tefoso:v:214:y:2025:i:c:s0040162525000824
    DOI: 10.1016/j.techfore.2025.124051
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