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Financial Reporting’s Logical Next Step: Blockchain

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Nov 12, 2017

On November 12, 2017, Financial Executives International (FEI) released an article on how the Financial Executives Research Foundation (FERF) is collaborating with Deloitte to explore how blockchain is currently being adopted in the financial reporting community, the potential for industry disruption and the realistic next steps for the technology to be embraced.

In a video discussion, FEI Managing Editor Olivia Berkman discusses the evolution of blockchain on financial reporting with Will Bible, Audit & Assurance Partner, Deloitte & Touche LLP and Jake Benson, CEO, of Libra, a New York-based blockchain financial reporting start-up.

They discuss how blockchain is being implemented incrementally in financial reporting and right now it's being used in specific applications for business processes, such trading, consortiam, or supply chain management. But blockchain could really have an impact on every single line item on the balance sheet or income statement, because it is a recordkeeping technology. 

View the video on FEI's website.

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