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Perspective and Challenges of Blockchain Technology in the Accountability of Financial Information

Perspective and Challenges of Blockchain Technology in the Accountability of Financial Information
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Author(s): Jorge Tarifa-Fernández (University of Almería, Spain), María Pilar Casado-Belmonte (University of Almería, Spain)and María J. Martínez-Romero (University of Almería, Spain)
Copyright: 2021
Pages: 24
Source title: Research Anthology on Blockchain Technology in Business, Healthcare, Education, and Government
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-7998-5351-0.ch085

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Abstract

The accounting information system could be improved by blockchain technology, but some potential risk could arise. Thus, it is worth considering such risks. The accounting research and academic literature regarding the impact of this technology on the accounting system are in an initial stage of this emergent field. The purpose of this chapter is to go a step further on this topic and to spur additional research regarding accounting and blockchain technology. The contribution of this study is twofold. On the one hand, it shows the main technologies comprising blockchain and their main consequences understood as sources of improvement. On the other hand, it assesses said effects applied to different processes of the accounting information system. Not only does this work show implications for the accounting profession, but the effects on the primary stakeholders are also brought to light.

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