How the Blockchain Could Stop Firms Cooking the Books

Enron, WorldCom, Lehman Brothers and Saytam are all dark minutes in corporate history. One method or another, they all prepared the books to conceal their true monetary position, at the expenditure of investors, consumers, and occasionally, the tax payer. Could the blockchain be used to stop corporate scams?

It’s not likely that large organizations would begin trading totally in bitcoin, but some believe that dispersed ledgers might be used to ‘bake’ confirmed deals directly into a business’s accounts, even if those deals are conducted in fiat currency.

Charles Hoskinson, previous CEO of Ethereum, believes that accounting is among the next big chances for the blockchain.Continue reading at CoinDesk CoinDesk

Leave a Comment

Scroll to Top