Blockchain Revolution

8. Accounting for Value: Accounting is the measurement, processing, and
communication of financial information about economic entities. It is a
multibillion-dollar industry controlled by four massive audit firms—Deloitte
Touche Tohmatsu, PricewaterhouseCoopers, Ernst & Young, and KPMG.
Traditional accounting practices will not survive the velocity and complexity
of modern finance. New accounting methods using blockchain’s distributed
ledger will make audit and financial reporting transparent and occur in real
time. It will also dramatically improve the capacity for regulators and other
stakeholders to scrutinize financial actions within a corporation.