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The first ever consumer grade application of Blockchain technology was a crypto currency Bitcoin, started in 2008. The successful implementation of Bitcoin came under spotlight and people started to realize the potential and opportunities this technology could offer to solve many challenges faced by business in present day world. Since then, the elevation process flared and it...

Blockchain is a new technology and various businesses are exploring the possibilities through which blockchain can add value in our day-to-day life. Developers have developed many applications, which are changing the way we traditionally have been transacting. Followings are the few examples of Blockchain application, which depict how blockchain can impact businesses around the world;...

Blockchain is usually known for the backbone technology of cryptocurrencies and there is a reason for that. Many of us diverted our intentions to learn about Blockchain when we heard the noise of cryptocurrencies around us. However, Blockchain is a lot more than just being a mechanism behind buzzword of bitcoin. The innovative solutions offered by frontline...

Although blockchain is a relatively a new concept but in reality, it is amalgamation of three old technologies, which have been used by us since long. In a blockchain, techniques from Ledger, Cryptography and Networking are combined to drive desired solutions. Let’s look briefly what these technologies do and how these are integrated to build...

Before we dive into the how know of Blockchain, let’s try to understand how blockchain based solutions can resolve our modern-day problems; A REAL-LIFE PROBLEM Suppose you bought an Air ticket for your planned vacation next month. Since this was early, you purchased it at a reasonable discounted price. However, just a week before the...

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U.S SEC to develop a clear regulatory framework for Cryptocurrencies. SEC Commissioner Hester Peirce, otherwise known as Crypto mom hoped that SEC will provide a solid framework for Cryptocurrencies by taking all stakeholders on board. U.S. Securities and Exchange (SEC) Commissioner Hester Peirce Confident that there is no need for a separate regulator for cryptocurrencies....

HOW BLOCKCHAIN CAN TRANSFORM ACCOUNTING PRACTICES The future of accounting has arrived and it’s called the blockchain. A growing number of voices in the accountancy profession recognize that blockchain will disrupt accounting and audit and it is being perceived as a disruptor in the fintech industry. Blockchain has the potential to transform everything from digital...

IASB proposes separate disclosure of Liabilities with Covenants The International Accounting Standard Board (IASB) published an Exposure Draft “Non-current liabilities with covenants”, which proposed an amendment in IAS 1 Presentation of Financial Statements, according to which Non -Current Liabilities with Covenants shall be disclosed separately from other non-current liabilities. According to the IAS-1, if the...

IASB published exposure draft supplier finance arrangments The International Accounting Standard Board (IASB) published an Exposure Draft “Supplier Finance Arrangement” on November 26, 2021. The Exposure draft proposed changes in IAS 7 Statement of Cash flows and IFRS 7 Financial Instruments – Disclosure. The following additions in IAS- 7 Statement of Cash flows are proposed...

Israel is exploring to Design Digital Shekel Based on Ethereum Many leading nations are racing for developing digitalize version of their national currencies and recently Israel has stepped in and is at initial stages of issuance a pilot for issuing Central Bank Digital Currency (CBDC). According the Globes the Central Bank of Israel exploring the...

AMC Cinema tickets now can be purchased through cryptocurrencies AMC Entertainment, the world’s largest movie theater chain, will now accept cryptocurrencies for purchase of cinema tickets. The announcement was awaited since mid-September, when Company CEO Adam Aron tweeted the company’s plan to add cryptocurrencies as a payment method for its customer.Businesses around the world are...