How blockchain could change corporate reporting

Closeup of chain links with data code overlaid on chain

Blockchain has the potential to change some aspects of corporate reporting, but its uptake is likely to be gradual and restricted to certain uses, according to a new report from the UK’s Financial Reporting Council (FRC).

A blockchain is a type of shared database which creates a permanent record of transactions. Because it is distributed across several participants, it is not under the control of a single participant. And, any changes made to the data are clear to all participants.

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