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What Accountants Need to Know about Blockchain

In: Information for Efficient Decision Making Big Data, Blockchain and Relevance

Author

Listed:
  • Michael Alles
  • Glen L. Gray

Abstract

Building on the work we have done in Alles and Gray (2019a, 2019b), in this chapter we try to provide a more balanced perspective on blockchain, explaining to an accounting audience why this technology has both much to contribute and what its caveats are. We will cover the basics of the technology underlying blockchain, explain its relation to bitcoin, and do so with a particular reference to what we feel accountants need to know about these technologies. For most accountants, technology such as blockchain is a means toward an end and not an end in themselves. What the technology is used for is far more important than what the technology is and, hence, what accountants need to understand is the business context of blockchain.

Suggested Citation

  • Michael Alles & Glen L. Gray, 2020. "What Accountants Need to Know about Blockchain," World Scientific Book Chapters, in: Kashi R Balachandran (ed.), Information for Efficient Decision Making Big Data, Blockchain and Relevance, chapter 7, pages 173-196, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789811220470_0007
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    More about this item

    Keywords

    Accounting; Decision Making; Economic Information; Stock Trading; Acquisitions; Mergers; Financing Reporting; Reliable Information; Company Decisions;
    All these keywords.

    JEL classification:

    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • A1 - General Economics and Teaching - - General Economics

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