Accounting Commons^™

Blockchain: Is It The Future Of Business?, Stuart Welsch

Information Systems Undergraduate Honors Theses

Blockchain is one of these new and disruptive technologies being developed; it is predicted to change the landscape of business in an extremely similar fashion as the Internet did. In lay terms, blockchain is a new technology designed to secure privacy (Collins, 2016), cut out unnecessary middleman costs (Eha, 2017), dramatically lower the cost of transactions (Iansiti & Lakhani, 2009), lower transaction time (Underwood, 2016), and assist in making assets become more liquid and appealing (like cash) because they are more easily transferable (Paech, 2016). Blockchain functions like a ledger; it is able to keep track of an asset’s ownership …