Scribd
Upload
19 views17 pages

Blockcain Presentation

This presentation explores blockchain technology, highlighting its role as a decentralized, immutable ledger that enhances trust and transparency in transactions. It discusses the history, advantages, and applications of blockchain in areas like auditing, fraud detection, and smart contracts. The future of blockchain in accounting is anticipated to streamline processes and improve verification methods.

Uploaded by

Ronalyn Barrera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
19 views17 pages

Blockcain Presentation

This presentation explores blockchain technology, highlighting its role as a decentralized, immutable ledger that enhances trust and transparency in transactions. It discusses the history, advantages, and applications of blockchain in areas like auditing, fraud detection, and smart contracts. The future of blockchain in accounting is anticipated to streamline processes and improve verification methods.

Uploaded by

Ronalyn Barrera
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
You are on page 1/ 17

Blockchain The Tech

Behind

Technology Crypto
Introductio

In this presentation, we'll explore the We'll break down complex concepts
fascinating world of blockchain into easy-to-understand terms and
technology, the foundation upon discover the potential of this
n

which cryptocurrencies operate. revolutionary technology.


What is
Blockchain?
Blockchain is a shared, immutable
ledger that facilitates the process of
recording transactions and tracking
assets in a business network. It is
designed to ensure trust and eliminate
the need for intermediaries by using
cryptographic techniques and
consensus mechanisms.
History of
ORIGIN
Blockchain
TRANSACTIONS CONTRACT PROOF OF APPLICATIONS
WORK
2009 2011-2012 2017-2018
1990s 2012-2013

The concept of Nakamoto The Currency The blockchain


distributed developed deployment of transfer and emerged in
computing bitcoin and cryptocurrency digital various
started to introduced the in practical payments applications
appear since notion of application with further
1990 blockchain to related to cash developments
use
decentralized
and distributed
ledger
Blockchain Database
• Blockchain is • The database is
decentralized because centralized because it

BLOCKCHAI there is no admin or in-


charge.
has admins and in-
charge.
• Database are fast.
N
• Blockchains are slow.
• It has history of records • It has no history of
and ownership of records and ownership
VS digital records.
• Blockchains is fully
of records.
• The database is not

DATABASE confidential.
• Blockchain has only
fully confidential.
• The database has
insert operation. Create, Read, Update,
• It is fully robust and Delete Operation.
technology. • It is not entirely robust
technology.
ROLES OF BLOCKCHAIN IN
CREATING AN IMMUTABLE
FINANCIAL LEDGERS
Immutable
Records

Once a transaction is added to the Blockchain, it


cannot be altered or deleted, ensuriung data
integrity.
Decentralizati
on
Transactions are validated by a
network of computers (nodes),
eliminating reliance on a central
authority.
Transparen
cy All parties involved can view the
ledger, making financial data more
transparent and reducing the risk of
manipulation.
Automation
Smart contracts can automate
accounting processes like revenue
recognition and expense recording.
Use of Blockchain in
Auditing, Fraud Detection,
and Smart Contracts
Use of
Blockchain
in Auditing

Blockchain technology offers benefits for auditing, such as increased


transparency, traceability, and efficiency. Auditors can utilize
cryptographic techniques to verify the integrity of transactions and ensure
compliance with regulations.
Use of
Blockchain
in
Fraud
Detection
Records stored on the blockchain are permanent and transparent, and the
information cannot be erased or tampered with. Once there, it would be
incredibly hard for a fraudster to manipulate an existing transaction –
without this getting spotted in the chain. By creating a record that can't
be altered and is encrypted end-to-end, the blockchain helps prevent
fraud and unauthorized activity. You can address privacy issues on the
blockchain by anonymizing personal data and by using permissions to
prevent access.
Use of
Blockchain
in
Smart
Contracts
Smart contracts are digital contracts stored on a blockchain
that are automatically executed when predetermined terms
and conditions are met. Blockchain transaction records are
encrypted, which makes them hard to hack. Moreover,
because each record is connected to the previous and
subsequent records on a distributed ledger, hackers have to
alter the entire chain to change a single record.
How
blockchain is
used in
Accounting
Storing financial data safely and
securely has always been of vital
importance in the accounting industry.
With layers of encryption and
cryptographic keys, blockchains offer
a fortress of high security
Blockchain could bring about an era of
triple-entry accounting – where a third
entry is made on the blockchain,
providing a secure and permanent set
of records on the distributed ledger.
What’s the
future for
blockchain in
accounting?
The future of blockchain accounting is still in development. We’ll likely
see the technology streamlining transactions; through a combination of
blockchain and smart contracts, payments will be settled faster, and will
be easier to verify by auditors.
Blockchain makes transaction-level accounting possible. Accountants
and bookkeepers will no longer need to do reconciliations, but will still
need to verify details about the assets and transactions.
Thank You
For Your
Attention

You might also like