Eladio Pascual Pedreño, Vera Gelashvili, Laura Pascual Nebreda
{"title":"Blockchain and its application to accounting","authors":"Eladio Pascual Pedreño, Vera Gelashvili, Laura Pascual Nebreda","doi":"10.3926/IC.1522","DOIUrl":null,"url":null,"abstract":"Purpose: In recent years Bitcoin has revolutionized the financial world. Its birth was made possible thanks to an innovative combination of certain pre-existing technology in computer networks and cryptography, which led to the existence of a transparent, reliable and immutable record of transactions, a large shared ledger: Blockchain. Several studies analyse the application or future application of Blockchain in different industries. The application of Blockchain in accounting is one of the most debated, since it is a shared accounting record and it is anticipated that its application could change the mission of accountants or even auditors. Therefore, the main objective of this work is to analyze the existing literature on the importance of Blockchain and its possible impact on accounting. Design/methodology/approach: The review of the literature on blockchain and its importance was carried out. Also we have analyzed the triple entry and the so-called accounting ledger, trying to clarify some existing terminological confusion, and we have faced what could be the future of this technology. Findings: The review of the literature implies that Blockchain, after technical improvement and development, will involve an important transformation of the traditional accounting system, with the consequent modification of the work of accountants and auditors. Originality/value: One of the main contributions of this study is its importance for academic literature, being one of the first to analyze the impact of Blockchain in traditional accounting.","PeriodicalId":45252,"journal":{"name":"Intangible Capital","volume":null,"pages":null},"PeriodicalIF":1.0000,"publicationDate":"2021-06-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"7","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Intangible Capital","FirstCategoryId":"1085","ListUrlMain":"https://doi.org/10.3926/IC.1522","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q4","JCRName":"MANAGEMENT","Score":null,"Total":0}
引用次数: 7
Abstract
Purpose: In recent years Bitcoin has revolutionized the financial world. Its birth was made possible thanks to an innovative combination of certain pre-existing technology in computer networks and cryptography, which led to the existence of a transparent, reliable and immutable record of transactions, a large shared ledger: Blockchain. Several studies analyse the application or future application of Blockchain in different industries. The application of Blockchain in accounting is one of the most debated, since it is a shared accounting record and it is anticipated that its application could change the mission of accountants or even auditors. Therefore, the main objective of this work is to analyze the existing literature on the importance of Blockchain and its possible impact on accounting. Design/methodology/approach: The review of the literature on blockchain and its importance was carried out. Also we have analyzed the triple entry and the so-called accounting ledger, trying to clarify some existing terminological confusion, and we have faced what could be the future of this technology. Findings: The review of the literature implies that Blockchain, after technical improvement and development, will involve an important transformation of the traditional accounting system, with the consequent modification of the work of accountants and auditors. Originality/value: One of the main contributions of this study is its importance for academic literature, being one of the first to analyze the impact of Blockchain in traditional accounting.
期刊介绍：
The aim of Intangible Capital is to publish theoretical and empirical articles that contribute to contrast, extend and build theories that contribute to advance our understanding of phenomena related with management, and the management of intangibles, in organizations, from the perspectives of strategic management, human resource management, psychology, education, IT, supply chain management and accounting. The scientific research in management is grounded on theories developed from perspectives taken from a diversity of social sciences. Intangible Capital is open to publish articles that, from sociology, psychology, economics and industrial organization contribute to the scientific development of management and organizational science. Intangible Capital publishes scholar articles that contribute to contrast existing theories, or to build new theoretical approaches. The contributions can adopt confirmatory (quantitative) or explanatory (mainly qualitative) methodological approaches. Theoretical essays that enhance the building or extension of theoretical approaches are also welcome. Intangible Capital selects the articles to be published with a double bind, peer review system, following the practices of good scholarly journals. Intangible Capital publishes three regular issues per year following an open access policy. On-line publication allows to reduce publishing costs, and to make more agile the process of reviewing and edition. Intangible Capital defends that open access publishing fosters the advance of scientific knowledge, making it available to everyone. Intangible Capital publishes articles in English, Spanish and Catalan.
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