Accounting, auditing and compliance are a massive cost for business globally. (Fines alone have cost banking $200 billion since 2009.) Blockchain accounting cou

Accounting, auditing and compliance are a massive cost for business globally. (Fines alone have cost banking $200 billion since 2009.) Blockchain accounting could help cut those costs. For example, instead of a company employing its own auditors to examine the books of its various units, all transactions could be logged on an internal blockchain, and recorded centrally. Likewise, external auditors or even regulators could inspect a corporation’s books in real time. Even the accounting firms that make their money from auditing see the value in the technology: “This solution could significantly reduce the reliance on auditors for testing financial transactions,” Matt Spoke http://qz.com/629662/the-unsexy-future-of-blockchain-is-accounting/ http://qz.com/629662/the-unsexy-future-of-blockchain-is-acco...