Over the past few months, it seems like every conversation between accountants has turned to the subject of cryptocurrency. There was a time not that long ago when the only person in your office who knew about this radical new form of currency was the wild-eyed staff member who spent their off hours trading Bitcoin.
Many people are familiar with cryptocurrencies like Bitcoin, but very few possess an understanding beyond the basics. While it would be impossible for us to explain every detail about these new currencies here, we thought it would be useful to share a few interesting cryptocurrency facts that might surprise you.
Since the internet began to dominate commerce in the late 90s, dozens of very smart people had mulled over a means to avoid the need for a trusted third party financial institutions to mediate between transactions.
As 2018 is wrapping up, the race for the topic of the year in the accounting profession has long since been decided. Blockchain has been the concept on everyone’s lips, and it’s only going to become more omnipresent in the coming months and years.
As with any new technology, it can be hard to determine what’s myth and what’s reality when it comes to cryptocurrency.
With blockchain-based applications set to be the topic in accountancy for 2019, it’s high time to familiarize yourself with the underpinnings behind this revolutionary technology.
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