Embracing Innovation: Blockchain and Smart Contracts in Financial Record Keeping (Completed)

Blockchain has great potential for market disruption because of the methodologies it uses to authenticate and record transactions. Embedding self-executing code into permissioned blockchain systems provides a whole new landscape to image what is possible through blockchain technology. Real estate, land, and automobile titles, digital voting, expediting energy futures trading, tax regulation and compliance, tracking assets or even the tracking of prescription drugs can be reimagined because of the power of blockchain technology. This workshop is designed for accounting professionals eager to gain a comprehensive understanding of blockchain's decentralized ledger system and the automated efficiency brought about by smart contracts.

Topics Covered

• Learn how blockchain is reshaping traditional financial record-keeping processes
• Dive into the concept of smart contracts and their application in automating financial agreements
• Fundamentals of blockchain and its decentralized nature
• Cryptography's role in ensuring the security and integrity of financial transactions

Learning Objectives

• Indicate the fundamental characteristics of blockchain technology
• Recognize the differences between types of blockchains and the associated potential use cases
• Evaluate different risk factors that may be introduced by including smart contracts in a blockchain-enabled environment
• Evaluate the potential risks and challenges associated with implementing blockchain and smart contracts in specific accounting contexts

Level
Basic

Instructional Method
Group: Internet-based

NASBA Field of Study
Information Technology (2 hours)

Program Prerequisites
None

Advance Preparation
None