URR Blockchain and Distributed Ledger Technology (DLT): The Future of Accounting

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Vijai Chandrasekar, Worakamol Wisetsri, Irfan Ullah


In recent days the blockchain technology is considered the most significant invention after the Internet. Blockchain technology brings in yet another revelation, this time in accounting principles. Blockchain and Distributed Ledger Technology in the field of accounting will ensure the quality, transparency, efficiency and safety of accounting and control and management processes at the enterprise. In this paper, we provide the Origins of ledgers, Problems with current ledgers, an overview of the Distributed Ledger Technology (DLT), and Types of Distributed Ledger Technologies. We also present an Importance of Distributed Ledger Technology, Challenges and risks related to DLT systems, and the future role for Distributed Ledger Technology.

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