Blockchain technology design in accounting: Game changer to tackle fraud or technological fairy tale?

Abstract

PurposeThis paper aims to design, build and evaluate a blockchain platform in the accounting domain, taking an ecosystem perspective. To achieve this aim, the research provides evidence for developing a decentralised architecture rooted on blockchain technology, designing a proof of concept and modelling an accounting blockchain-based system.Design/methodology/approachMoving from the analysis of previous literature and leveraging on the design science approach, this paper provides a framework grounded on the main pillars of blockchain and accounting functions, identifying technical and non-technical issues that must be addressed embrace blockchain technology's full potential.FindingsWe propose and discuss a conceptual framework for a blockchain-based accounting context, moving from the identification of a typical accounting scenario. The framework is organised around three scalable levels: the first level is a technological infrastructure based on a distributed database with peer-to-peer storage; second, in the intermediate level, increasing control levels are assured through permissions and validation and third, in the higher level, the system provides the integration of business and security applications. The deployment of this system relies on a private network of nodes that validates transactions.Practical implicationsThe proposed conceptual framework about blockchain development in accounting allows closing the knowledge gap between blockchain developers and accounting experts by suggesting technological and strategic issues for practitioners.Originality/valueWe provide practical guidelines to design and adopt blockchain in the accounting domain.

Research on China’s Manufacturing Industry Moving towards the Middle and High-End of the GVC Driven by Digital Economy

“…Moreover, it will involve realizing cross-border links in the GVC of China's manufacturing industry under the international vertical division of the labor system. Additionally, future research will still involve strengthening the research on the impact of blockchain technology on mutual trust [63], sustainable supply chain [64], and enterprise value chain system reconstruction based on blockchain technology in the accounting domain [65]. This will help to realize the sustainable development of China's manufacturing industry and encourage the promotion of the GVCs.…”

Assessing Effectiveness of Humanitarian Activities against COVID-19 Disruption: The Role of Blockchain-Enabled Digital Humanitarian Network (BT-DHN)

“…This factor regularly encompasses the uses of mobile phones, social media, crisis mapping, crowdsourcing, digital payment systems, and geospatial technologies. The technological innovations have brought the blockchain-enabled digital humanitarian network (BT-DHN) recently to provide support to the people who are the sufferers of a natural disaster or pandemic situation [92] and act as a liaison between the different digital HOs to work on a project. Table 9 shows that the preparedness and pandemic response practices factor (C-HA1) has received the second-highest weightage (0.3519), indicating the importance of this factor in the pandemic situation.…”

“…The fuzzy-based Delphi [78] has the capability to capture vagueness in data. Several studies have used this method for measuring firm performance [90], performance of green supply chain management [91], technology selection [92], and logistics [90][91][92]. This study has applied fuzzy-Delphi to obtain the joint decision making that aims to assess the critical factors for HAs to develop humanitarian supply chains.…”

Blockchain in accounting, accountability and assurance: an overview

“…Centobelli et al. (2022) use a novel design science approach to develop guidelines for adopting blockchain in accounting practice.…”

“…However, it is also important to highlight that, as Centobelli et al. (2022) signal, technical and non-technical issues must be addressed to secure blockchain's potential.…”