Importance of Blockchain Technology in Accounting in Current Era

Abstract

In the recent year advancement of technology poses a need for security and protection of verifiability data which brings into the market. The Block chain Technology connects the markets, suppliers, customers & banks by solving the problem of defining too huge ledgers and transactions separately by giving a common trusted distributed ledger. It brings into real-time visibility and transparency and reliable and immutable record of transactions with security issues by maintaining anonymity and creating unforgeable accounts. While we associate blockchain with digital currency, it has a wide range of applications in accounting making an upcoming revolutionary technology in current era. Objective of the study: Importance of block chain Technology in Accounting in current era