Accounting and mapping transactions on-chain was the focus of the latest Bitcoin Masterclasses, with Dr. Craig Wright diving into topics such as double-entry accounting, triple-entry accounting, NFTs, tokenizing, swaps, smart contracts.
In this interview, Bitcoin thought leader and entrepreneur Daniel Krawisz takes us into the depth of entrepreneurship, how Bitcoin affects it, its new paradigms, and more.
With its ability to record information and transaction securely, Dr. Wright says this builds accountability for blockchain industries, as falsifying data would be too complicated on-chain.
Blockchain analysts can tell that "something happened here" in particular transactions—but not what it was. With the Bitcoin blockchain, we can still verifiably account that certain pieces of data exist, even if some of it can't be seen by everyone.
This latest The Bitcoin Masterclasses tackles more about the processes that ensure the data entered onto the blockchain is as accurate as possible.
Despite being a powerful tool, Bitcoin cannot solve all issues plaguing the system, but it can provide a more secure and verifiable way to track data, whether it may have been changed or duplicated.
In an interview with CoinGeek, Ian Grigg explains how Triple Entry Accounting enhances the centuries-old methods of double-entry bookkeeping by introducing a third ledger.
Participants are being encouraged to submit proposals for the TEA Conference in Malta on November 10-11 on topics covering blockchain, AI, ESG, and tokenization, among others.
Triple entry accounting introduces a third entry (time-stamped immutable records), in addition to the first entry and the second entry, debit, and credit.
Torje Vingen Sunde, the CTO of Abendum, joins CoinGeek Backstage where he broke down triple entry accounting, and Abendum’s recent inclusion in a regulatory sandbox by the Norwegian government.
Concerning accounting, the same question seems to occur in the long run: who is the trusted third party being used in triple entry accounting of the future? Bitcoin or central banks?
Laws must pass to enable unmasking of those engaging in digital asset transactions, said the co-chair of the U.S. House of Representatives blockchain caucus this week.
