HOW BLOCKCHAIN TECHNOLOGY CAN ENHANCE TRANSPARENCY AND EFFICIENCY IN ACCOUNTING FOR BOTH CRYPTOCURRENCY AND FOREX TRANSACTIONS
https://doi.org/10.5281/zenodo.15527049
Keywords:
blockchain, accounting, cryptocurrency, forex, transparency, financial technology, audit, decentralized ledger, real-time reporting, regulatory complianceAbstract
This paper explores the transformative potential of blockchain technology in enhancing transparency, security, and operational efficiency within the accounting practices of cryptocurrency and forex transactions. As global financial markets increasingly embrace digital assets and decentralized systems, traditional accounting methods face challenges in ensuring real-time verification, data integrity, and regulatory compliance. By integrating blockchain, accountants and financial institutions can access immutable transaction records, streamline auditing processes, and reduce fraud risks. The paper analyzes current applications, discusses regulatory implications, and proposes a model for the adoption of blockchain-based accounting systems in digital asset management.
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Farajollah H, Kasra. (2024). Role of Bitcoin in student’s finances. doi: https://core.ac.uk/download/638719870.pdf
Rangapur, Aman, Shu, Kai, Wang, Haoran. (2023). Investigating Online Financial Misinformation and Its Consequences: A Computational Perspective. doi: http://arxiv.org/abs/2309.12363
Flocea, Tatiana, Moşteanu, Roxana N. (2023). Revolutionizing Foreign Exchange Market: A Critical Analysis of Blockchain's Opportunities and Challenges. AMO Publisher, doi: https://core.ac.uk/download/588606474.pdf
Hardiningsih, Intan, Pramono, Irena P, Putra, Semidang K, Syahputra, et al.. (2020). Blockchain Technology and How It Will Affect Accounting in the Future. The International Institute for Science, Technology and Education (IISTE), doi: https://core.ac.uk/download/327151445.pdf
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Rangapur, Aman, Shu, Kai, Wang, Haoran. (2023). Investigating Online Financial Misinformation and Its Consequences: A Computational Perspective. doi: http://arxiv.org/abs/2309.12363
Hardiningsih, Intan, Pramono, Irena P, Putra, Semidang K, Syahputra, et al.. (2020). Blockchain Technology and How It Will Affect Accounting in the Future. The International Institute for Science, Technology and Education (IISTE), doi: https://core.ac.uk/download/327151445.pdf
Calcaterra, Craig, Kaal, Wulf A, Rao, Vadhindran. (2020). Stable Cryptocurrencies. Washington University Open Scholarship, doi: https://core.ac.uk/download/324159179.pdf
Flocea, Tatiana, Moşteanu, Roxana N. (2023). Revolutionizing Foreign Exchange Market: A Critical Analysis of Blockchain's Opportunities and Challenges. AMO Publisher, doi: https://core.ac.uk/download/588606474.pdf
Farajollah H, Kasra. (2024). Role of Bitcoin in student’s finances. doi: https://core.ac.uk/download/638719870.pdf
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