While we live in a digital era where every other sector has undergone a digital transformation, auditing remains a challenge yet to be solved. UNISOT is on a mission to make auditing more efficient, and CFO Torje Vingen Sunde believes that Bitcoin is the solution.
“I came here with ideas on how to make auditing more efficient using Bitcoin, but I found that there are ten times more things you can do with Bitcoin,” Sunde told CoinGeek’s Becky Liggero.
The Bitcoin Masterclasses are a departure from the traditional presentation model, with Dr. Wright interacting with his audience. He also encourages everyone to participate and share their ideas on practical applications of Bitcoin. As Sunde noted, the audience also gets to ask him questions and request clarifications, “which is amazing.”
“I really like it,” Sunde says of this new format. With such close proximity to Satoshi, “you can ask questions and learn anything.”
At UNISOT, Sunde and his team are working on solutions that can impact auditing today, leveraging Bitcoin’s triple-entry accounting.
The biggest takeaway from the Bitcoin Masterclasses for Sunde was “that there’s only one ledger.”
“Craig taught us that we should put everything on-chain and then you can keep a ledger of the ledgers…I really recommend everyone to have a look at this,” he said.
Triple-entry accounting challenges the traditional double-entry accounting format in which accountants have the sole authority to manage financial information for an enterprise. Double entry has several limitations, not least of which is leeway for fraud and manipulation.
Watch: Triple Entry Accounting on Blockchain
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