Triple-entry accounting with blockchain: How far have we come?

Research output: Contribution to journalArticle

1 Citation (Scopus)

Abstract

Although double-entry accounting has been used for more than 600 years, today’s era of disruptive technological change utilising blockchain and FinTech has led to the emergence of another promising accounting method: triple-entry accounting. This paper explores triple-entry accounting, from its conception to the current state of play, using three case studies. We find that: (i) in a blockchain ecosystem, for some accounts, business entities will only need to perform a single entry internally and the opposite entry will be recorded in a public shared ledger; and (ii) triple-entry accounting is a new and a more efficient way to address fundamental trust and transparency issues that plague current accounting systems. Triple-entry accounting with blockchain, when properly implemented, can fundamentally improve accounting.
Original languageEnglish
Pages (from-to)1-23
Number of pages23
JournalAccounting and Finance
DOIs
Publication statusE-pub ahead of print - 18 Oct 2019

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