Technology

Can Blockchain Really Change The Financial Suite?

How, when and where senior-level financial executives invest resources in blockchain solutions is becoming a high priority as stakeholders begin to debate the technology’s application against modern accounting and financial reporting.
 
Last week the AICPA held a blockchain symposium with leaders announcing that the technology will “will impact all areas of practice” and new industry organizations like the Accounting Blockchain Coalition cropping up in what seems an almost weekly basis.
 
The Financial Executives Research Foundation (FERF) issued a report today looking at the growing promise and practical challenges of applying blockchain solutions to financial reporting and accounting work.
 
The report, sponsored by Deloitte, interviews industry leaders, academics and practitioners regarding their hopes distributed ledger technology. The paper also includes a survey of of financial leaders regarding the current use of cryptocurrencies like Bitcoin and  their plans to adopt blockchain solutions in the future.

Highlights from the report's survey are below.
 
FERF Blockchain Survey
FERF Blockchain Survey
FERF Blockchain Survey
FERF Blockchain Survey
FERF Blockchain Survey
FERF Blockchain Survey

 
Financial Executives International members can download the full report by clicking on the image below.