Blockchain - Why Accountants and Auditors will Weather the Storm


#1

I’ve written my first blockchain-related article, partially inspired by one of Ivan’s Blockchain Business Masterclass videos :slight_smile:

I’ve heard many times now that blockchain will destroy the accounting profession. Often times, those that make this claim are not accountants by trade.

Being a CPA, while also having a relatively in-depth understanding of blockchain, I give an informed opinion as to why accountants will weather the storm (5 reasons).

Let me know what you think :smiley:


#2

Nice write up. My biggest takeaway is that regardless of how good any technology may be, the rate of adoption for something as complex as accounting will take a very long time. I could see small parts of the mundane accounting world being handled by block chain, but it would only support accountants, not do away with them.


#3

I agree! If I were to summarize into a less industry-specific focus, anything involving JUDGMENT or INTERPRETATION in any field will require human intervention.

Maybe one day AI/Machine Learning will disrupt that as well. But blockchain, on a standalone basis, will be incapable of making a decision that isn’t black-and-white.