Accounting Systems With Smart Contracts

Abstract

The theme of accounting in blockchain environment has been referenced and theoretically discussed over the last few years in international publications, both of academic and professional nature. However, until today, there are no other known works that pursued a path in order to perform accounting records in blockchain. In the present work the authors go beyond this, as they will demonstrate, also proposing a practical solution for its implementation and use in a generalized way. The authors present two new proofs of concept, which are part of an ongoing work process to obtain the development of the Portuguese accounting system using blockchain. The most recent of the sequential steps was designing and developing the tokenization process and a Dapp that will be used to perform and consult accounting operations through any mobile device, by developing smart contracts. In a near future, this system will allow accounting operations to be carried out, in a simple way, on the blockchain, assuming implications for the way in which accountants, users of financial information, and software houses work.