BLOCKCHAIN INTEGRATION IN ACCOUNTING SYSTEMS: CHALLENGES AND FUTURE PROSPECTS
DOI:
https://doi.org/10.5281/zenodo.20023449Keywords:
Blockchain, accounting systems, triple-entry accounting, financial reporting, audit efficiency, integration challenges, regulatory compliance, future prospects.Abstract
Blockchain technology offers significant potential to transform traditional accounting systems by enhancing transparency, security, immutability, and efficiency. This paper reviews the current state of blockchain integration in accounting, its key applications, major challenges, and future prospects. While blockchain enables real-time auditing, triple-entry accounting, and fraud reduction, barriers such as high implementation costs, regulatory uncertainty, interoperability issues, and skill gaps hinder widespread adoption. The review concludes that strategic integration, combined with regulatory support and technological advancements, could revolutionize accounting practices in the coming decade.
References
1)Parra-Domínguez, J. The disruption of blockchain technology in accounting.
2)Deloitte reports on Blockchain in Accounting and Auditing .
3)Bellucci et al. and other systematic reviews on blockchain in accounting practice
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