The Application and Challenges of Blockchain Technology in Accounting and Financial Information Systems

Abstract

This article explores the application of blockchain technology in accounting and financial information systems, emphasizing its advantages in transparency, security, and efficiency, and proposing challenges that need to be addressed in widespread adoption.The decentralized nature of blockchain technology can revolutionize traditional accounting practices.Through distributed ledger technology, each transaction information is recorded on an immutable blockchain, ensuring the authenticity and traceability of product information.The article also discusses the application of blockchain in agricultural ecological product supply chain management, how to improve transportation safety and reduce logistics costs by improving the transparency and efficiency of information flow.Finally, the article investigates the impact of blockchain on corporate financial risk, using panel data from listed companies from 2019 to 2023 for empirical analysis, and evaluating corporate financial risk through the Z-Score model.