Wall Street Blockchain Alliance partners with AICPA to boost tech for accounting

Oct. 30, 2017

The Wall Street Blockchain Alliance, a nonprofit trade association, has partnered with the American Institute of CPAs to examine how the blockchain will impact the accounting industry.

The AICPA will administer the WSB's working group on tax and accounting, which in turn will enable experts to share information on blockchain technology and adoption, according to a press release.

The working group brings together experts to help create educational resources, guide blockchain advocacy and deal with blockchain related issues.

"The accounting profession is built on confirmation and verification, and that’s what blockchain is all about,"  Barry C. Melancon, president and CEO, AICPA, said in the release. "This technology can have a profound impact on accounting and finance going forward, and it’s important we make sure that its adoption proceeds in a way that’s in the best interest of the public and our financial markets. Our working relationship with the WSBA, combined with our expanded global reach through the Association of International Certified Professional Accountants, will help further that goal."

Topics:Blockchain, Software

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