Blockchain Technology and Accountants

Information
management
systems

Blockchain technology
■ A blockchain in simple terms known to be as a time-stamped
series of immutable record of data that is administered by group
of computers not retained by any single entity (Crosby et al,
2016).
■ There is not any central authority to blockchain network and as it
is a shared and absolute ledger, the info in it is open for
everyone and anyone to see

Blockchain technology
■ Blockchain technology also includes its three pillars including
decentralization, immutability and transparency (Iansiti and
Lakhani, 2017).
■ Ever since the technology has come into reality, various
researches have been started for the usefulness of this
technology in various sectors. This technology serves as reliable
platform and there are several new things using the blockchain
technology like smart contracts