Blockchain is one of the hottest topics in accounting right now. Despite that fact that blockchain has only existed since 2008, it is being eagerly integrated into accounting workflows and forecasted to radically transform the industry.
It is easy for the concept of blockchain to get muddled by technical details, but it’s actually a fairly simple solution. A blockchain is essentially a form of distributed ledger that is cooperatively managed by users both inside and outside of an organization. Every change to the ledger is meticulously documented, and the information is considered accurate and immutable. [Read more…]