Bookkeeping, statement reconciliation, and some smart contracts will blockcbain rise of the entire ledger at. Data integrity, transaction sources, and accountants who have a firm in importance for a future.
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With blockchain, accountants can improve the accuracy and transparency of financial reporting, reduce costs, and provide their clients with a competitive advantage in the market. As the use of blockchain technology becomes more widespread, accounting firms that embrace this technology and stay up-to-date on the latest developments will be well-positioned to thrive in the rapidly evolving accounting industry. In the long term, more and more records could move onto blockchains, and auditors and regulators with access would be able to check transactions in real time and with certainty over the provenance of those transactions.
