区块链代替审计的原因,区块链代替审计的例子

❶ Classification of blockchain audit objectives

The traditional authenticity and integrity audit objectives are no longer important under blockchain technology, and need to shift to risk warning and decision support .
First of all, the irreversibility and timestamp of the blockchain can ensure that the data is not modified at will. In the blockchain system, the premise for each transaction to be valid is that the system reaches a consensus on the ownership of digital assets, and once reached, it cannot be modified. Reflected in the audit, after a transaction occurs and is recorded, if you try to modify it, subsequent accounting processing requires all blockchains to be modified, and it will be very difficult to falsify it.
Secondly, under the distributed accounting rules, transaction data is stored in each block, and each block is shared by traders and confirmers. If a block fails or is attacked, the chain will Other participants can still operate as usual and keep copies of the books recording complete data, which ensures the integrity of the accounting data.
In the audit work, as long as the transactions are verified for fraud, the authenticity and completeness audit objectives can be quickly achieved. For example, in traditional raw material audits, it is necessary to verify the invoices, inspections and warehousing of the procurement process. Now it is only necessary to verify the authenticity of the invoices and physical objects in the warehousing process, and other links can be omitted. For example, when department A picks materials, other departments will also record the quantity of materials picked by department A. If department A wants to modify its own quantity of materials, it needs to modify the records of all other departments at the same time, which is very difficult. This guarantees Authenticity and completeness of material collection records. Correspondence and verification of accounts receivable, accounts payable, and transactions can also be handled similarly.
In short, due to the non-modifiable and public nature of the blockchain, the correctness and legality of transaction rights and obligations, pricing, deadlines, posting and summary, classification, and disclosure can be effectively guaranteed. The focus of auditing should shift to in-process supervision, risk warning and decision-making support. For example, if certain monitoring and analysis indicators are set in the blockchain audit software, abnormal operating behavior of the audited unit can be discovered at any time to achieve ongoing supervision. Set thresholds for key indicators, such as automatic early warning when the bad debt rate of accounts receivable reaches 20%, reminding auditors of problems, changing regular audits to "all-weather" audits, and giving full play to the risk warning function. In addition, blockchain technology has an auxiliary decision-making function due to its large amount of data and data processing capabilities. During the audit process, blockchain data analysis capabilities can be used to trace the recovery of accounts receivable and bad debts, and propose relevant solutions. Targeted improvement suggestions.

❷ What benefits does the application of blockchain technology bring to enterprises?

Blockchain classification:

1 Private chain

It refers to a blockchain with certain centralized control. Just using the general ledger technology of the blockchain for accounting, it can be a company or an individual, with exclusive write permission to the blockchain. This chain is not much different from other distributed storage solutions. The only participating nodes are the users themselves, and data access and use are subject to strict permission management. Due to the existence of certain centralized control, the alliance chainsystem, so it can also be considered to belong to the private chain category.

Features: Since the user has the final say, the data inside has no characteristics that cannot be changed, and there is not much protection for third parties. Generally used for internal audit. The vice president of technology at Huobi Network believes that private chains do have a large number of scenarios that can meet the needs of the real world. Limited decentralization makes it easier to reach consensus, can make transactions faster and more efficient, and can provide more controlled function. Decentralization is the core value of blockchain technology. If the private chain cannot fully utilize the decentralized trust foundation constructed by the public chain in practice, its development space will be limited.

2 Public Chain

Public blockchain is the earliest blockchain and the most widely used blockchain at present. It refers to a blockchain like the Bitcoin blockchain that is completely decentralized and not controlled by any institution. Any individual or group in the world can send a transaction, and the transaction can be effectively confirmed by the blockchain, and anyone can participate in its consensus process. Participants in the consensus process maintain the security of the database through cryptography and built-in economic incentives.

Features: Completely open, uncontrolled, relying on encryption technology to ensure security.

3 Alliance Chain

A certain group designates multiple pre-selected nodes as bookkeepers. The generation of each block is jointly decided by all pre-selected nodes. Other access nodes You can participate in transactions, but you are not involved in the accounting process (it is essentially still managed accounting, but it becomes distributed accounting. How many pre-selected nodes and how to decide the accountant of each block becomes the main risk point of the blockchain) , anyone else can make limited queries through the blockchain’s open API.

The nodes participating in the blockchain are selected in advance, and there are likely to be good network connections between the nodes. Other consensus algorithms other than proof of work can be used on such a blockchain. For example, a certain blockchain has been established among 100 financial institutions, and it is stipulated that more than 67 institutions must agree to reach a consensus.

Prospects:

The development of blockchain technology has also brought about changes in the operational concepts of various industries. New technologies and new concepts have promoted new developments in various industries. This kind of The impact of the driving force on society and the promotion of economic activities are also huge. Many new industry phenomena will occur one after another, and the public is also waiting and watching, hoping that this brand-new technology will be used by various industries and better benefit all industries. .

Blockchain is a new application model of computer technologies such as distributed data storage, point-to-point transmission, consensus mechanism, and encryption algorithms. The so-called consensus reserve mechanism is a mathematical algorithm in the blockchain system to establish trust and obtain rights and interests between different nodes.

❸ What are the development prospects of blockchain?

Technically speaking, blockchain is a new technology parallel to the Internet. The Internet solves the problem of information communication and communication between people. The efficiency of information transmission is a problem, and the blockchain solves the problem of trust transmission between people.Cost and efficiency issues can reduce costs for enterprises, especially trust costs.
For financial companies, the most intuitive issue is to save costs, because many financial companies, especially banks, need to invest in settlement business, equipment, technical strength, etc. to help customers complete transfers between bank cards. Strong interaction, etc., in the future blockchain technology can reduce costs to very low.
It also has applications in other areas, such as the accounting field. Blockchain can make the entire auditing industry disappear directly. Because the recording of blockchain ledgers and confirmation of transactions is itself an audit process, it can completely retain the transactions and make them public to the entire network. When you go to verify, you can check the corresponding ID and corporate qualifications of the enterprise. linked together to form the audit process.

❹ How to let the public better understand blockchain

Blockchain (blockchain) is not a technology that everyone can understand, because there are too many things involved behind this term. Much technical knowledge. For startups trying to build blockchain-related businesses, getting people to understand the concept is indeed a challenge.
Generally speaking, blockchain can be understood as a programmable trust infrastructure. Because you can indeed program your trust according to its rules or concepts. This is one of its biggest benefits because you avoid systemic risk.
Blockchain can serve as a real-time a priori audit mechanism. If you take a longer view, you will start to look forward to it.

❺ What is the difference between blockchain and financial auditing

The following differences exist between blockchain and financial auditing:
1. The concepts of the two are different. Blockchain refers to a new application model of computer technology in the form of distributed data storage, point-to-point transmission, consensus mechanism, encryption algorithm, etc. It is essentially a decentralized database; financial auditing refers to the assets of state-owned enterprises. Carry out audit supervision on whether , liabilities, profits and losses are true and legal, make an objective and fair evaluation of the financial statements reflected by the audited enterprise, form an audit report, and issue audit opinions and decisions.
2. The two functions are different. Blockchain can use block chain data structures to verify and store data, etc., to verify the validity of information and generate the next brand new block; the purpose of financial audit is to reveal and reflect the true situation of the company, and to investigate and deal with the company's financial affairs Various illegal and irregular issues in revenue and expenditure are conducive to the government strengthening macro-control and safeguarding the rights and interests of national owners.

❻ FISCO - Golden Chain Alliance creates a new era of public alliance chains

Public chains, alliance chains (permissioned chains) and private chains can be said to basically include blocks Three ways to use chain technology. In recent years, the planning, financing, development and ecological construction of the public chain can be said to have been carried out in a noisy manner. Some are real, and there are even more deceptions. It is noisy, noisy, muddy and sandy, and investors' money has really gone in. But not many are online, the ecological construction on the few public chains that are online is also sparse, there are very few DApps, and the daily life is even less. In short, not many current public chain projects can or are willing to survive, and it is even more difficult for the ecological construction to take shape. Far.

Private chains are self-built and internally run blockchain architectures of respective companies and institutions. Very little information is disclosed, but I believe that using your own money to do your own things and solve your own problems will not cause any problems. What a big deal.

The development of the alliance chain has always been low-key. Since blockchain technology was recognized by the mainstream economy and society, pragmatic mainstream economic institutions have been solidly carrying out research, development and application for about 4 years. During this period, the backbone of the alliance chain was formed, and another correct path was found for the implementation of blockchain applications and ecological construction. In a certain sense, the alliance chain has passed its infancy and has begun to solidly move towards the "public alliance chain" new era. The alliance chain's naturally strong relationship with mainstream economic industry resources also determines the alliance chain's mainstream status in the application prospects of blockchain technology.

With the dawn of the digital economy era and the popularization of distributed business models, blockchain technology has also been able to give full play to its advantages and become a representative of cutting-edge technology. In 2016, three companies, WeBank, a member of the Golden Link Alliance, Shanghai Wanxiang Blockchain, and Matrix Yuan, a member of Chinaledger, reached a strategic cooperation and jointly committed to exploring blockchain technology, and

The full name of Golden Link Alliance is Financial Blockchain Cooperation Alliance (Shenzhen). It was jointly established on May 31, 2016 by more than 20 financial institutions and technology companies including Shenzhen Financial Technology Association, Shenzhen Qianhai WeBank, and Shenzhen Securities Co., Ltd. Non-profit organization established. As an open organization, Financial Institutions that voluntarily abide by the charter and companies that provide technological services to financial institutions can apply to join. So far, members of the Golden Link Alliance include more than 80 institutions in six major industries including banks, funds, securities, insurance, local equity exchanges, and technology companies.

On November 26, 2016, Golden Link Alliance released the "Financial Distributed Ledger Proposal", proposing five major principles such as legal compliance, traceability, security, privacy protection, and business orientation, as well as a value alliance , autonomous and controllable, safe and trustworthy, efficient and available, business feasible, flexible configuration, intelligent supervision and other seven propositions.

Purpose: Integrate and coordinate financial blockchain technology research resources, form a synergy and coordination mechanism for financial blockchain technology research and application research, and improve the research and development capabilities of member units in the field of blockchain technology. Explore, develop, and implement financial alliance blockchain suitable for financial institutions, as well as application scenarios based on this.

The General Assembly of the Golden Chain Alliance is the highest authority; the standing body of the General Assembly is the Presidium, which leads the alliance to carry out its daily work during the intersession of the General Assembly, and alsoThe general meeting of members is responsible; the presidium consists of a technical committee (which presides over application topic work), a standards technical working committee (which presides over the establishment, formulation, review and release of standards), and an advisory committee (which organizes external experts to participate in technical and standards discussions).

Jinlianmeng has established research directions in the fields of credit, equity, points, insurance, bills, cloud services, digital assets, financial product issuance and trading, and some of the projects have now been implemented or products have been launched. prototype.

The FISCO BCOS underlying blockchain platform is jointly built by the FISCO open source working group. Members of the working group include Beyondsoft, Huawei, Shenzhen Stock Exchange, Digital China, Sifang Inextron, Tencent, WeBank and Yuexiu Jinke and other members of the Golden Link Alliance, aiming to create a secure and controllable blockchain suitable for the financial field. The underlying platform of the chain.

Financial services are one of the earliest application areas of blockchain. Blockchain technology brings advantages such as security and reliability, simplified processes, cost savings, reduced operational risks, and increased trust, and has the potential to reconstruct and sublimate the original financial industry infrastructure. The financial industry focuses on multi-party reciprocal cooperation and has strong supervision and high-level security requirements, which require node access and authority management. Therefore, the technical direction of the alliance chain has become the main choice for the financial industry.

At present, my country's financial industry is opening up to the outside world with unprecedented intensity, and the pace of financial innovation is also accelerating. Therefore, how to effectively balance the relationship between open innovation and risk prevention and firmly maintain the bottom line of no systemic risks is an important issue for the industry. challenges that urgently need to be addressed.

From the perspective of financial IT infrastructure, there are still some shortcomings and pain points in operational risks, moral hazards, credit risks, information protection risks, etc.

First, financial IT system data may still be tampered with, forged, or have consistency differences.

Second, the infrastructure structures and business processes of different financial institutions are different, and even still involve many manual processes, which greatly increases operating costs and is also prone to operational risks and ethics. risk.

Third, financial business and financial cooperation may involve multiple participants or intermediaries, which can easily increase trust costs and friction costs. There are also certain issues of mutual trust, collaboration or cooperation reciprocity.

Fourth, financial business is often highly complex, and it is easy to miss records of all business elements. Sometimes it is difficult to trace the entire business process, and it cannot meet the needs of supervision and auditing.

Fifth, the data between different financial institutions are relatively independent, making it difficult to achieve safe and efficient interaction, resulting in higher costs for repeated KYC, anti-money laundering, and anti-fraud, and also indirectly causingThere is the risk of user data being leaked by some intermediaries.

Sixth, the availability and adaptability of centralized IT infrastructure are weak, and distributed technologies need to be used to improve robustness or adaptability.

As a combined infrastructure solution, blockchain technology can in principle respond to the needs of the financial industry. However, because the requirements of the financial industry are more diverse and strict, as a financial version of the blockchain solution, it needs to be based on the blockchain technology of the universal industry and according to the special business needs of financial institutions, existing technical levels, and laws and regulations. Requirements or conditions in other aspects shall be comprehensively considered from multiple dimensions such as business suitability, performance, security, policy, technical feasibility, operation and maintenance and governance, and cost.

First, the appropriateness of the business scenario. Not all financial business scenarios require the use of blockchain technology. Generally speaking, when it comes to scenarios involving multi-party participation and peer-to-peer cooperation, the traditional centralized system architecture is often difficult to meet the needs, so you can consider using blockchain technology. This will increase multi-party mutual trust, improve business operation efficiency, and reduce business operation costs and friction costs.

Second, the performance of the blockchain system. Financial business often has characteristics such as massive transactions, high-frequency transactions, and timely confirmation. Therefore, the blockchain open source platform in the financial industry needs to analyze the business volume, potential business growth scale, and potential business growth scale that the blockchain system needs to support based on the current business scale of financial institutions. Technical performance index requirements such as concurrent business volume and response time. Since blockchain platforms using different technical modules, such as different consensus mechanisms, have greatly different performance support, it needs to be evaluated based on business performance requirements and combined with blockchain performance efficiency indicators.

Third, the security of the blockchain system. Blockchain can ensure the credibility of recorded data from a technical level and prevent data from being tampered with, forged and other risks. In addition, in terms of data sensitivity and security, it is necessary to evaluate the content encryption strength of the on-chain data, as well as access control, etc. Financial institutions need to choose mature, appropriate, and secure encryption algorithms based on the specific security requirements of their business.

Fourth, policy compliance. Blockchain is a set of technical solutions that, with reasonable design, can provide good support for existing businesses or complement existing centralized systems. However, when financial institutions use blockchain to conduct business, they must implement it within the country's existing regulatory requirements and legal framework.

Fifth, technical feasibility. Blockchain technology has already been implemented in some financial scenarios, but it is still an emerging technology. It is necessary to fully evaluate the fit of the technology with specific businesses and its advantages and disadvantages compared with traditional systems before finally choosing the appropriate area. Demonstration and trial operation of the blockchain platform.

Sixth, operation and maintenance and governance capabilities. Because blockchain-based business and traditional centralized systemsThere are differences in operations and management, and the continuous governance requirements of financial business are extremely high. Corresponding planning and adjustments are required to evaluate the feasibility and sustainability of the new governance structure, and to evaluate the impact of version iterations and the official launch of the system. Monitor the operation of the blockchain system in real time to ensure business controllability and financial environment stability.

Seventh, costs are controllable and economically feasible. Blockchain applications use technical features to solve specific problems in actual business. Applications that effectively solve pain point problems can bring great benefits to financial businesses, and the value of the application itself can also be revealed; on the contrary, if it cannot solve important problems in the industry , you need to face a trade-off between costs and benefits.

If a safe and reliable underlying financial blockchain platform can be built to meet the special needs of the financial industry, blockchain technology will be of great use in the financial industry.

For example, from the perspective of banking institutions, the key exploration directions are generally to apply blockchain technology to reduce clearing and settlement costs, improve middle and back-office operational efficiency, improve process automation, and reduce operating costs. In addition, in cross-border financial scenarios, blockchain can help realize ledger sharing among cross-border financial institutions, reduce reconciliation and settlement costs and dispute friction costs between cooperative banks, thereby improving the processing speed of cross-border business. and efficiency.

From the perspective of non-bank financial institutions, blockchain can be used to improve the authority of rights registration and information storage, reduce counterparty risks, solve data tracking and information anti-counterfeiting issues, and reduce audits. operating costs, etc.

From the perspective of financial regulators, blockchain provides regulators with consistent and easy-to-audit data. Through data analysis of inter-institutional blockchains, the audit process can be faster and more efficient than traditional audit processes. Precisely regulate financial operations. For example, in an anti-money laundering scenario, the balance and transaction records of each account are traceable, and no aspect of any transaction will be out of sight of supervision, which will greatly strengthen anti-money laundering efforts.

Designed an efficient, reliable, message communication protocol based on the blockchain network, referred to as Advanced Messenger On-chain Protocol AMOP (Advanced Messenger On-chain Protocol), focusing on the following functions:

 Based on the blockchain network, it supports cross-bank and point-to-point real-time message communication;

 Provides standardized interfaces for the interaction between off-chain systems and blockchain;
< br />  The blockchain system can actively call the business interface of the off-chain system;

The technical characteristics of this protocol are:

 In the point-to-point blockchain network topology in, planningNode communication path to ensure that messages are reachable;

 Can quickly sense node abnormalities in the blockchain network and automatically switch paths to resend messages;

 Used in the communication process Encryption technology ensures privacy at the communication layer.

Designed the contract naming service CNS (Contract Name Service). The design goal of CNS is to name the correspondence between the business layer and smart contracts, so that the business layer no longer cares about the relevant contract addresses. Similar to DNS on the Internet, the use of domain names makes it easier for users to remember how to access a website, and also gives the website great flexibility in terms of clustering, migration and expansion.

Parallel PBFT consensus

Standard RAFT consensus

Parallel computing and hot account solutions

FISCO BCOS in data integration Conduct in-depth exploration in analysis, transaction control, identity authentication and other aspects to meet the financial industry’s high standards for supervision, risk control and other aspects.

Risk data integration

Based on immutable, traceable, distributed and highly consistent data on the blockchain, regulatory agencies can be given sufficient and transparent information and transactions Participants, transaction details, transaction process and transaction history records are all recorded on the blockchain ledger, which can completely and properly preserve massive historical data, solve the problem of data islands, and meet the needs of structured, clear, accurate and complete risk data. requirements.

Risk modeling, analysis and prediction

Organically combine the data completed on the blockchain with big data mining, machine learning and other technologies, and then integrate market data, industry Data can be used to formulate more accurate risk models, improve risk prediction capabilities, and meet the requirements of comprehensive risk management of institutions.

Real-time transaction monitoring, reporting and interception

Identity recognition

Special Prize: ODRchain - a typical application of public consortium chain

The most high-profile champion project - ODRChain, is based on the FISCO BCOS underlying platform and uses blockchain technology to solve the pain points of traditional judicial processing of online disputes, such as the difficulty in verifying the authenticity of electronic data and the inability to digest a large and rapidly backlog of case disputes.

At present, ODRChain has shortened the time it takes for customers to go from clicking "one-click arbitration" to receiving the arbitration award, from the traditional arbitration process that lasted several months to about 7 days. , and the arbitration fees that originally cost tens of thousands of dollars have also been reduced.to several hundred yuan. As of December 2018, ODRChain has completed the deposit of over 10 million contracts, involving hundreds of billions of funds.

First prize: JustSign - a white-box cryptographic algorithm that turns a mobile phone into a USB shield

The project that grabs the first prize in the competition - JustSign, is based on FISCO BOCS It is an electronic contract signing and certificate storage system. Its original JustKey white-box cryptographic algorithm realizes "mobile phone as USB shield", which solves the problem of limited compatibility of traditional CA, inability to protect key security on the mobile terminal, and vulnerability to attacks in centralized data storage. question.

Expert reviewers commented that electronic contracts involve complex legal relationships and ownership of interests, and it has long been difficult to achieve a balance between security, integrity and portability. The team’s original white-box cryptographic algorithm is really conducive to improving security in blockchain certificate storage scenarios.

Second Prize: Internet of Things Trusted Interconnection Solution - The Picture of Smart Life Looks Like This

The Internet of Things Trusted Interconnection Solution entered by Sichuan Changhong Security Laboratory depicts Come up with a smart home blueprint that requires almost no extra worry on your part. When analyzing the blockchain technology behind it, team representatives said that an inter-enterprise cooperation alliance is established based on the alliance chain to open up the interconnection and mutual trust of IoT devices between different manufacturers, and based on insights into typical business scenarios of smart life, through smart contracts Implement smart terminal registration, scene rules, trust rules and linkage rules.

Expert judges of the competition believe that this project has practical hardware and scenarios in the field of Internet of Things, and is expected to further promote the implementation of application scenarios such as distributed AI assistants, resource sharing, life cycle management, and multi-channel payment. Truly usher in smart life.

Among the projects that won the third prize in the competition, they accurately targeted the characteristics of blockchain in terms of security and efficiency improvement, and provided practical solutions for the industries they represented. Tsinghua University The team of teachers and students found a new way to develop cross-layer full-stack blockchain security detection technology to protect other blockchain applications comprehensively, and its technical strength was highly praised by the judges.

The third prize winners were the trusted electronic certificate platform of Shenzhen E-Commerce Security Certificate Management Co., Ltd., the real estate registration platform of Wuhan Liandong Times Technology Co., Ltd., and Shandong Guanhai Data Technology Co., Ltd. The company's Rongcheng blockchain service platform, the livestock industry blockchain traceability of Quanliantong Co., Ltd., the tourism finance alliance platform of Shenzhen Youxun Information Technology Co., Ltd., and the copyright safe deposit box of Beijing FamilyMart Technology Development Co., Ltd.

The first response mutual aid of Shanghai Jiuyaojiu Information Technology Co., Ltd., the HaveFund of "Yongteng Group My Innovate", the blockchain policy of Qianhai Life Insurance Co., Ltd.Management, the book sharing campus of "Huazhong University of Science and Technology Guanshankou Hulu Brothers", and the "Cloud Block" account system of the Cloud Block project team also won the Outstanding Social Value Award, Outstanding Business Design Award, Outstanding User Value Award, and Outstanding Creativity Award in the competition respectively. Excellent Application Integration Award.

Ma Zhitao, chairman of the Golden Alliance Technical Committee, elaborated on the concept of the “public alliance chain”. He believes that the alliance chain should achieve self-sublimation and should be able to evolve into an ecosystem that provides services to the public, that is, a "public alliance chain."

Different from the public chain project’s idea of ​​“coming up with a plan first, raising funds, vigorously promoting it, raising the price, and finally investing in development”, the alliance chain project adheres to the idea of ​​“investing in development first with its own funds” , go to the production environment to verify, accumulate real customers and users, run steady trials and errors, and finally carry out promotion and publicity.” However, due to the focus on practical implementation and focusing on real applications, there is a lack of publicity, and it has no choice but to fall into a passive situation of "many people have implemented it, but few people have praised it". Golden Chain Alliance hopes that through this competition, the project team of the alliance chain will come to the stage to show their results, enhance the influence of the alliance chain, and let the public know more about the real application implementation and sustainable development of the alliance chain project.

❼ Financial sharing, what impact will blockchain have on accounting theory and practice

With the emergence of cryptocurrencies such as Bitcoin, this time-tested financial framework is entirely possible Was changed. Harnessing the power of blockchain, the entire concept of money is turned upside down through the rise of this new data-based currency. While our current understanding of money has evolved over the past few decades, thanks to credit cards and fiat currencies, cryptocurrencies are the logical next step in this evolution.
This is understandable to accountants, but what does it mean to entrepreneurs? Well, anyone interested in starting or maintaining a successful business will need a competent accounting team. As the financial environment changes, so will the experience and insight required of business accountants. Understanding this upcoming paradigm shift can better help entrepreneurs future-proof their organizations and may even help them save money on accounting-related business expenses.
Bitcoin Modern Accounting Overview
The current financial paradigm treats Bitcoin, Ethereum, and all other cryptocurrencies as assets. For example, in the United States, any form of cryptocurrency is considered property rather than currency. Although the IRS recognizes that Bitcoin can serve as a "medium of exchange," Bitcoin is not classified as currency because it also generally functions as a "unit of account and store of value."
Due to this classification, changes in the value and quantity of cryptocurrencies are taxed as capital gains or losses. By mining or purchasing large amounts of Bitcoin, there will be an increase in capital, which will subject Bitcoin to capital gains tax. Trading or selling cryptocurrencies is alsoThis is so because these events are considered taxable capital gains and losses. As a result, holdings in Bitcoin or other high-end stocks are accounted for in much the same way as other forms of equity, such as real estate or stocks.
Predictions for the Future of Bitcoin and Accounting
As blockchain and cryptocurrencies gain legitimacy in the financial world, the accounting nature of Bitcoin and other advanced currencies will also change. While many of the potential changes are too far off to accurately predict, one aspect of accounting is sure to change dramatically and will certainly impact all entrepreneurs and business organizations: auditing.
Here’s how blockchain and cryptocurrencies are being used to violently disrupt the audit process, and what does it mean for businesses that employ auditors? Since Bitcoin is currently classified as property subject to capital gains tax, the method of auditing its value is known as instant forensic analysis. However, the instant verifiability of blockchain technology makes this audit method obsolete.

As you track these changes and developments, discuss them with your organization’s accountant or financial advisor. They can help you understand the further implications of these events; in some cases, they can even show you what actions you can take to respond to these events, thereby increasing your profits, reducing your costs, and opening up new opportunities for your business. new development path.
On the other hand, if your accountants and auditors react with blank stares to your research, consider updating your finance team.

❽ Rapid changes in the information technology environment such as big data, blockchain, and cloud technology have led to changes in auditing that have had an impact on auditors

The impact is as follows:
Big data auditing replaces traditional auditing It is the general trend. Based on the introduction of technologies such as artificial intelligence and big data, this article proposes five major trends in big data auditing, namely: audit intelligence, audit platformization, multi-dimensional audit information, transformation from sampling audit to detailed audit, and audit visualization. At the same time, this article also points out the five major challenges faced by big data auditing, namely: high cost of obtaining big data, difficulty in changing concepts and habits, scarcity of talents, complexity of audit business and complexity of big data audit system design. The research conclusions of this article have certain reference significance for big data audit practice.

❾ Industry prospects: How will data blockchain technology affect the accounting and auditing industry

1. Blockchain in the field of payment: financial institutions, especially cross-border financial institutions. Reconciliation, clearing, and settlement costs are high and involve many manual processes; the application of blockchain technology can reduce the cost of reconciliation and dispute resolution between financial institutions, significantly improve the efficiency of the payment field, and make it easier for financial institutions to handle small transactions. Cross-border payment business will help realize inclusive financial services.
2. In the field of clearing and settlement: different financial institutions have different infrastructure structures and business processes, involving many manual processes, which greatly increases business costs and is prone to errors. Apply blockchain technology, combined with theThe on-chain assets mentioned in the two points can complete point-to-point real-time clearing and settlement, thereby reducing value transfer costs, shortening time, improving efficiency, and both parties to the transaction can obtain good privacy protection.
3. Asset management field: Equity, bonds, bills and other assets are managed by different intermediaries, which increases the transaction cost of assets and brings about the problem of certificate forgery. Apply block pre-chain technology to digitize such assets and turn them into digital assets on the chain. With the irreversible, non-tamperable, public and other characteristics of the blockchain, it can improve the efficiency of asset transactions and reduce asset management costs.
Because the characteristics of the blockchain are irreversible and non-tamperable, it makes information confidential and secure, point-to-point transaction transmission, decentralized, and reliable traceability of information; thereby reducing intermediate costs and improving efficiency, it is not only used for accounting and auditing , and can also be applied to all walks of life. Now we can also see the collaborative operation model of blockchain from behind the operation of all walks of life. Therefore, blockchain will definitely change human life extensively and profoundly. Therefore, The entire life service will enter the blockchain era. In the development process of the Internet, blockchain + real industry, blockchain e-commerce, and blockchain social media group operations can all use blockchain technology.