The role of Blockchain technology in enhancing the security of accounting information

Abstract

Blockchain is one of the latest technologies of the current era, as it has been described as the second generation of the Internet because of the security services it provided, speed, and flexibility in performance. Therefore, it was used to impose tight control over financial transactions and control them through a widely distributed decentralized registry without the need for a central authority. Reliable, as Blockchain is a new interface for accounting based on databases recognized by every user. Blockchain has a set of advantages such as speed, data integration, and low cost compared to traditional methods that rely on the presence of a third party controlling and controlling everything. These advantages motivate capital owners and active players in the financial services industry to invest in this new technological field. One of the most important reasons suggested by the International Stock Exchange Blockchain technology for exchanging shares and tracking company ownership because it provides a new and innovative way to create, track and exchange ownership of financial assets.