Will Blockchain Change the Audit?

Abstract

Blockchain technology is the underlying technology of bitcoin. The bitcoin can be used to consume and exchange real currencies, because the blockchain can provide credit certificate of online transaction, and all transaction related information is encrypted and stored in the blockchain. So, it is safe and decentralized, and it will reduce the transaction cost and be widely used. Another important feature of blockchain is non-modifiable. Since all transaction related information is recorded in blockchain and not changeable, this feature facilitates the audit work.