Reasons why blockchain-based accounting is the future of bookkeeping:.
03 Aug 2023, 09:55
3⃣ Reasons why blockchain-based accounting is the future of bookkeeping:
✅ Payments are conducted using cryptocurrencies, eliminating the need for intermediaries such as banks.
✅ Transactions are systematically recorded in chronological order and stored on the blockchain, ensuring a permanent record. Any modifications are documented as different transactions.
✅ The security of the records is not compromised since they are stored on the blockchain rather than a centralized server.
To gain a deeper understanding of how triple-entry accounting functions, read: