Blockchain technology underlies cryptocurrencies such as Bitcoin and Ethereum and is capable of storing data that has notably useful characteristics, especially for accounting data. Blockchain technology has been described as a highly secure version of a Google document that can be shared with many, but changes are secure.
A large amount of attention and capital currently is being allocated toward virtually anything related to blockchain technology. It is important to examine blockchain first by getting a better understanding of the technology and then examining the accounting and auditing implications.
My first job in security – and in fact my first job out of school – was for a biometrics company. There w…
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