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As a fan of accounting, I hasten to point out that this is only one of a couple of different triple-entry accounting schemes, which include: * [Momentum accoun
by seanstickle 12y ago
As a fan of accounting, I hasten to point out that this is only one of a couple of different triple-entry accounting schemes, which include:
* [Momentum accounting](http://en.wikipedia.org/wiki/Momentum_accounting_and_triple-entry_bookkeeping http://en.wikipedia.org/wiki/Momentum_accounting_and_triple-...)
* [Cryptographically-sealed triple entry accounting](http://bitcoinmagazine.com/9969/triple-entry-bookkeeping-bitcoin/ http://bitcoinmagazine.com/9969/triple-entry-bookkeeping-bit...)
- iang_fc 12y agoThe first link above, "Momentum Accounting" is a very different use of the term "triple entry". Arguably, it has a better claim to the use of the term accounting because it is higher layer. The second link is more or less the same thing as the posted paper, within the bounds of journalism. Which concept probably has a better claim to the term bookkeeping because it is lower layer. Igor also describes the same thing, more or less, in a really good hacker's guide to Bitcoin: http://financialcryptography.com/mt/archives/001499.html http://financialcryptography.com/mt/archives/001499.html Where it gets interesting is whether Bitcoin can be considered triple-entry. I think with a fair stab, yes: http://financialcryptography.com/mt/archives/001325.html http://financialcryptography.com/mt/archives/001325.html But we will have to let the serious accountants and also historians have their say on this one.
- iang_fc 12y agoDarn it. That should be Ilya Grigorik's article here: https://www.igvita.com/2014/05/05/minimum-viable-block-chain/ https://www.igvita.com/2014/05/05/minimum-viable-block-chain...