This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice ( for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

Blockchain — hype or reality?

  • United States Image

Jul 05, 2017

On July 5, 2017, Accounting Today published an article by L. Gary Boomer, where he discusses how CPAs have a great opportunity to lead with this technology, rather than following it.

Mr. Boomer explains that during the past year, we have seen numerous blockchain pilots in several industries, governmental applications, and, more important, the convergence of multiple technologies increasing the capability and importance of blockchain to the accounting profession.

Therefore, accountants must change their mindsets, skill sets and toolsets to remain future-ready and the accounting profession should not ignore the investments being made in these technologies and the potential disruption to all professions.

Some of the uncertainties the blockchain has the potential to eliminate are:

  • Identity (proof, security and privacy);
  • Transparency (asset tracking);
  • Shared reality (nodes monitor tampering); and,
  • Renege (smart contract as an escrow agent).

Review the article on the Accounting today's website.

Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.