An Accountant's Guide to Cryptocurrency and Blockchain
Author: Stephen M. Yoss
||2 hours for CPAs
Blockchain technology offers the promise of digital truth. When properly implemented is offers a transparent, permanent, immutable, and high-speed record-keeping system. The possibilities are endless, from managing the logistics of supply chain networks to facilitating international commerce. The adoption of this technology is growing with millions of new users every year. Organizations are adopting this technology every day to help improve their existing operations through its ledger capabilities or executing smart contracts. Cryptocurrency is one example of blockchain technology. Its growth and value have exploded to over $2 trillion in the last few years. This growth has helped to fuel widespread adoption amongst Wall Street and regular investors alike.
While more popular than ever, few business professionals understand these technologies, their capabilities, their risks, and their potential impacts on business operations and processes, such as contract execution, recording and maintaining real estate ownership records, and supply chains. This incredible technology is wrapped in mystery for most accounting professionals. This course will provide a detailed and in-depth look at this technology including a detailed overview of the underlying technology, the benefits, the risks, the major players, and many practical applications. Participants will gain a deeper understanding of the inner workings of this technology as well as recommendations on how to get started.
Publication Date: October 2021
Financial professionals looking to get started with Blockchain and cryptocurrency technologies.
- Understanding Blockchain and Cryptocurrency
- Major Features of Blockchain and Cryptocurrency
- Examples of Major Cryptocurrencies and Blockchains
- Identify the main features of blockchain technology and the major features for business
- Identify the main benefits and risks of blockchain and cryptocurrency technologies
- Describe a blockchain transaction using Bitcoin
- Recognize how the transaction originates and how flows through the blockchain
- Recognize how analyze and review two major real-world blockchain pilot projects with Walmart, Maersk and others
- Describe the future of blockchain technology
- Identify the pages in the blockchain ledger
- Recognize correct statements with respect to blockchain
- Identify the process of settling transactions in most blockchain applications
- Recognize referenced companies conducted a mango pilot test
- Describe a wallet is typically housed with an exchange and is used for trading
NASBA Field of Study
Accounting (1 hour), Information Technology (1 hour)