How Blockchain technology could change an accountant’s role.
According to Deloitte, there are several specific-use cases where Blockchain technology can prove to be useful for a company’s accounts department. Some of these are listed below:
1. Budgeting and Forecasting — allowing transfer of value/cash between departments, as indeed IBM is doing, using the Stellar cryptocurrency. The use of Blockchain also creates better transparency and internal accountability.
2. Inter-company reconciliations — eliminating inter-company entries. Blockchain technology can potentially replace double entry book-keeping…