Blockchain will eliminate auditors

1.

1. Different network architectures:

decentralized application (DAPP) runs on the distributed network, the information of participants is protected (or anonymous), and the decentralized operation is carried out through different people in the network nodes. Distributed network is made up of node computers which are distributed in different places and have multiple terminals. When any line in the network fails, the communication can be completed through other links, which has high reliability

traditional app needs services provided by third-party service providers, and can achieve wireless network access through mobile communication network, which belongs to the centralized network architecture mode

2. Different from open source:

DAPP applications must be open source. Most of the tokens issued by DAPP run independently rather than controlled by an entity. All data and records must be encrypted and stored on a public and decentralized blockchain

traditional app software, games, navigation and other applications are generally provided by third-party service providers, which should solve the problems of right protection and economic interests, and their programs are not open source

extended data

in 2018, a large number of new DAPP projects were launched. According to the statistics, there are about two or three thousand dapps in the whole network. According to the DAPP survey of fluence labs, 72% of DAPP projects were launched in 2018. This means that in the past year, the number of dapps in the whole network has more than tripled

of all dapps, more than 80% are developed on Ethereum, about 20% on EOS and less than 10% on Tron. It is worth noting that about 10% of the projects are developed on multiple main chains at the same time, while the number of dapps developed on other main chains is relatively rare

there are about ten projects based on gxchain, mainly small applications in block city

2. China's digital currency is relatively safe because it is promoted at the national level. According to Li Lihui, head of the blockchain working group of China Internet Finance Association and former president of Bank of China, our country has the largest population in the world, so the scale of our payment market is also the largest in the world. When we issue China's legal digital currency in such a market, we must ensure the reliability and security of digital currency tools in such a high concurrency market. The security of other areas is not necessarily, even if there are audit reports
hope to help you.

3. With the emergence of cryptocurrencies such as bitcoin, this time tested financial framework is likely to be changed. With the power of blockchain and the rise of this new data based currency, the whole concept of money has been reversed. Although our current understanding of money has changed over the past few decades, thanks to credit cards and fiat money, cryptocurrency is the logical next step in this evolution
this is understandable for accountants, but what does it mean for entrepreneurs? Well, anyone interested in starting or maintaining a successful business will need a competent accounting team. With the change of financial environment, the experience and insight that business accountants need will also change. Understanding this coming paradigm shift can better help entrepreneurs prove their organization in the future, and may even help them save money on business expenses related to accounting
overview of bitcoin modern accounting
the current financial paradigm regards bitcoin, Ethernet and all other cryptocurrencies as assets. In the United States, for example, any form of cryptocurrency is considered property, not money. Although the IRS recognizes that bitcoin can be used as a "medium of exchange", bitcoin is not classified as currency because it usually has the function of "unit of account and value storage space"
as a result of this classification, changes in the value and quantity of cryptocurrencies are taxed as capital gains or losses. Mining or buying a lot of bitcoin will lead to capital increase, which will make bitcoin subject to capital gains tax. The same is true for trading or selling cryptocurrency, as these events are treated as taxable capital gains and losses. Therefore, the accounting treatment of the holding amount of the comparative currency or other high-end stocks is roughly the same as that of other forms of equity (such as real estate or stocks)
forecast of bitcoin and accounting in the future
e to the legitimacy of blockchain and cryptocurrency in the financial sector, the accounting nature of bitcoin and other advanced currencies will also change. Although many potential changes are too far away to be accurately predicted, one aspect of accounting is bound to change dramatically, which will inevitably affect all entrepreneurs and business organizations. This aspect refers to audit
here's how blockchain and cryptocurrency are used to brutally disrupt the audit process, and what it means for companies that employ auditors? Because bitcoin is currently classified as the property that must pay capital gains tax, the audit method of its value is called immediate forensics analysis. However, the immediate verifiability of blockchain technology makes this audit method obsolete

when you track these changes and developments, please discuss with your organization's accountant or financial advisor. They can help you understand the further meaning of these events; In some cases, they can even show you what actions you can take to deal with these events, so as to increase your profits, rece your costs, and open up a new development path for your enterprise
on the other hand, if your accountants and auditors are at a loss about your research, consider updating your finance team.

4. The disappearance should be temporary, just as newspapers are still there after Internet news. However, the new technology will certainly bring some impact or even impact. Blockchain may affect the following 12 instry regions:
1. Banking
as a digital, secure and anti-interference account, blockchain realizes the core function of Banking: the safe storage and transfer center of value. In other words, in the next few years, a wave of companies based on blockchain technology may affect the banking instry. Indeed, UBS, a Swiss company, and baecelays, a British company, are trying to use blockchain technology to improve payment terms. Some other banking companies even said blockchain technology could save $20 billion in intermediate costs

therefore, it is not surprising that banks, as financial service giants, have become the growth force of blockchain venture. Payment and transfer
recently, the world economic forum wrote in Forbes magazine that decentralized payment technology, such as bitcoin, may change the "business structure" of the transfer instry that has not changed for more than 100 years. Blockchain technology can avoid complex systems and create a more direct payment process between the payer and the payee. Whether it is domestic transfer or cross-border transfer, this method has the characteristics of low price, fast speed, and no intermediate fees. Abra (above) is a start-up enterprise that uses blockchain technology for global bitcoin and blockchain based transfer
3. Network security
although the system of blockchain is public, advanced encryption technology is used in the process of data exchange such as verification and transmission. This technology not only ensures the correct source of data, but also ensures that the data will not be intercepted in the intermediate process. If the application of blockchain technology is more extensive, the probability of being attacked by hackers may also decrease. Therefore, people think that blockchain system is more secure than traditional system. One of the reasons why blockchain system can rece the traditional network security risk is that it relieves the demand for middleman
"eliminating middlemen not only reces the potential security risk of hacker attacks, but also reces the possibility of corruption," Goldman Sachs wrote. Guardtime (above) is an Estonian start-up company, which mainly studies instrial network security solutions based on blockchain technology
4. Academic record and academia
holbertson school, a California software skills program, announced that it will use blockchain technology to identify academic credentials. This will ensure the authenticity of holbertson school students in course identification. If more schools adopt such transparent certificates, transcripts and diplomas, academic corruption will be greatly reced, not to mention the labor verification time and paper document cost
5. Elections
at the University of West Virginia, the student union is considering whether to use a voting platform based on blockchain technology to conct school elections. If such a platform is used, students can vote with mobile devices, and the voting results will be included in the public system, so the voting is completely safe. One student who supported this way explained that the vote "can never be modified or deleted by us - programmers, school administrators or students."
Agora voting, a Spanish software project, uses encryption technology to improve the security of online voting. Several of their systems have also been tested in Spain. Recently, the leader of this project proposed several ideas to turn bitcoin and blockchain technology into voting applications, which are far from experimental
6. Car rental and sales
later last year, visa and DocuSign announced a cooperative plan to create specific solutions for car rental by using blockchain technology. In the future, car rental can be completed in three steps of "click, sign and open". The specific operation is: customers choose the car they want to rent, and then the transaction will be uploaded to the public account of the blockchain; Then, the customer signs a lease agreement and an insurance agreement from the driver's seat, and the blockchain will upload the information in real time. It is not hard to imagine that this leasing model may also be applied to the field of car sales and car registration
7. Network communication and Internet of things
IBM and Samsung are working together to realize an idea called adept. Adept uses blockchain technology to build the pillar of decentralized Internet of things. Coindesk said that with adept, the decentralized P2P automatic telemetry system, the blockchain can become a public system for many devices, and there is no need for a central hub to mediate the communication of various devices. After removing the central control system and identifying each other, the devices can automatically communicate with each other, manage software updates, bugs, or energy consumption
other companies are also committed to integrating blockchain technology into the Internet of things platform. For example, filamen, which uses blockchain technology to build a decentralized network for sensor communication, announced that they have obtained US $5 million investment in round a financing, with the participation of Verizon ventures and Samsung ventures
8. Smart contract
a smart contract is actually a computer program that functions on the action of another object. Like ordinary computer programs, intelligent contracts are also an "If then" function, but blockchain technology realizes the automatic filling of these "contracts" without human intervention. This kind of contract may eventually replace the core business of the legal instry, that is, the business of drafting and managing contracts in the commercial and civil fields
for example, mortgage loans can be completed through blockchain technology and automatically executed every year according to the terms of the contract. Ethereum, a crowdfunding platform based on blockchain technology, not only provides decentralized applications, but also provides smart contracts. Some users have married with their smart contracts. Another company, hedgy, received $1.2 million in seed round investment from Tim Draper, Marc Benioff, boost.vc and sand hill angels earlier this year. The company uses smart contracts to build a platform for users to discuss the value of bitcoin
9. Prediction
blockchain technology may shake the whole research, analysis, consulting and prediction instry. Aug, an online crowdfunding platform, hopes to make a profit in a decentralized forecasting platform. The company said it would offer a service that looked like a gaming swap. The whole process will be decentralized, and the AUG platform will not only provide users with sports and stock gambling services, but also provide election and natural disaster gambling services. This idea actually goes beyond sports gambling and creates a "forecasting market"
10. Online music
many musicians are choosing blockchain technology to improve the fairness of online music sharing. Billboard reports that two companies are automatically solving licensing problems by paying artists directly and using smart contracts. Peertracks, which is still in its infancy, wants to create a new music streaming platform where users can pay artists directly without middleman's intervention. Peertracks also hopes to create more direct interaction between artists and users
ujo music, led by entrepreneur Phil Barry, claims that they are rebuilding the music instry on the blockchain. Ujo also hopes to solve the problem of streaming music and artist payment. In addition to streaming music, it is also expected that ujo will be able to better classify the artists and creators behind the songs by using intelligent contracts as the autonomous brain of the song list
11. Travel sharing
Uber and other travel applications seem to be on the opposite side of decentralization. This company is like a deployment center, using its algorithm to control its drivers and their charges. According to the report of blog, Israeli venture LA & # 39; Zooz wants to "go against Uber.". The company invented its own patented digital currency, which, like bitcoin, can be digitally recorded using blockchain technology. Different from the centralized network, users can call in LA & # 39; Find people with similar itinerary on zooz, and then use LA & # 39; Zooz's currency pays the taxi fare. These coins can be used for car hailing in the future. Users can get LA & # 39 as long as they allow the app to track their location; Zooz's digital currency
12. Stock trading
for many years, companies have been trying to simplify the process of stock purchase, sales and trading. Emerging blockchain technology makers believe that they can go beyond the past, realize the automation of the whole process, and improve security and efficiency. Overstock's subsidiary T & # Com wants to use blockchain technology to realize online trading of stocks. Overstock is already using blockchain technology to issue public shares, wired reported. At the same time, chain, a blockchain technology maker (mentioned above), is working with NASDAQ to realize the share trading of private companies through blockchain technology.

5. Yeah, yeah, yeah, very insightful

6.

1. Bone is a blockchain digital currency issued by Tangshan shuisongyuan Biotechnology Co., Ltd

2. Platinum coin will be officially traded on Swiss top exchange rfinex (r net for short)

3. With the launch of platinum coin, all the procts of shuisongyuan suppliers, as well as hotels, restaurants and other instries, can join shuisongyuan blockchain and pay with platinum coin

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future trend

1. In November 2016, the central bank prepared digital currency, and it is likely that cash will not exist in ten years

2. In November 2016, China digital currency Research Institute was established to cultivate high-level talents of digital currency, carry out digital currency research, consultation, development planning and related activities. It is a non-profit unit with legal license approved by relevant ministries and commissions, and is committed to promoting the integrated development of scientific research and practice of digital currency instry

Up to now, Hangzhou City, Shenzhen City and Guizhou Province have become the three hot areas for the central bank's digital currency pilot. It is reported that Hangzhou is actively promoting the planning and construction of Qiantang River financial harbor, including the blockchain instry. Hangzhou will build the first blockchain Instrial Park in China, which is located in the Internet Finance town of Xihu District, surrounded by ant financial services, e-commerce bank, Zhejiang University and its science and Technology Park and other well-known enterprises and parks

legislation

in August 2018, Elina sidorenko, an official of Russia's digital currency risk assessment department, wrote in her own telegram that a Russian digital currency bill, which takes into account social comments and the interests of enterprises and financial institutions, will be issued soon, and will clarify the rights, responsibilities and obligations of relevant participants in digital currency

7. Theoretically, so far, blockchain can represent the highest standard of credit
the block in the concept of blockchain is the information fast formed by the combination of bitcoin information and time stamp, and then every information fast is linked together to form a chain, that is, blockchain. Such chains can be verified with each other, can be added or removed at any node, and the update frequency is extremely fast. The wide range of distribution and the transparent and open data make the blockchain technology have its own credit attribute
the attributes of blockchain technology can be used to centralize the financial infrastructure, disintermediate the credit of traditional intermediate institutions, and evade the risk of financial instry by relying on the security of blockchain technology. However, these technologies can be realized because blockchain technology reflects the value of credit
for example, equity crowdfunding, the traditional way is to promote the completion of crowdfunding activities through equity crowdfunding platform, which is not only inefficient, but also investors can get less return, and the use of blockchain technology can quickly complete the transaction, so that investors can get richer returns, and these returns can be guaranteed, This is e to the distrust intermediation of blockchain technology
of course, as an emerging technology, blockchain must have some myths in the development process. For example, the underlying technologies and protocols of block chaining technology need to be improved, the time of chain formation is not long enough, and the centralization mode is not absolute enough. These problems may lead to the failure, elimination, bubble or new prosperity of the block chain technology. The emergence of this new technology is based on breaking the shackles caused by the lack of contemporary social credit China trade finance website)
the most important function of blockchain is to keep the records of information and not tamper with it. European crowdfunding uses blockchain technology to make crowdfunding project information more transparent.