A Literature Review of Blockchain Technology and Cryptocurrency: Impact on Finance and Accounting
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This paper conducts a literature review based on current research on blockchain, an emerging cutting-edge technology, providing an overview of blockchain in terms of its impact on finance and accounting. The literature collection for this review is primarily through Google Scholar and Chengdu Polytechnic Library, and papers published in high ranked scientific journals are given preference. The findings indicate that in finance, blockchain technology offers a more efficient operation, accompanied by an increased likelihood of significant price volatility and additional risk. As regards accounting, stored data can be secure while allowing for triple-entry bookkeeping, faster transactions, and real-time accounting. However, blockchain cannot eliminate fraud entirely. The literature examining blockchain technology in accounting practice is quite limited and relevant research deserves further exploration.
Blockchain, Cryptocurrency, Accounting