Nathana O’Brien Sharma, program director, blockchain, policy, law and ethics at Singularity University in California, says that blockchain technology will ultimately transform accounting in the same way as Excel or QuickBooks. Blockchain provides methods of recording cash flow and reconciling accounts into a single register, which then creates an interlocking system of records that it automatically verifies, viewable by all users. “It’s a new tool that will change the role, but not make it obsolete. Those accountants who can embrace new technology, artificial intelligence and the blockchain will be well ahead of the game.” Ms O’Brien Sharma also said that blockchain could well have raised red flags to some of the more egregious aspects of the global financial crisis.
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Providing insight into technology and innovation in the legal, accountancy property and consultancy sectors. Alternative Insights brings together news, commentary and thought leadership about digital transformation across the entire professional services industry. We collate industry stories on innovation, technology and transformation in the legal, accountancy, management and property consultancy sectors, giving you access to the latest thinking about tech and innovation in the professions.
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