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What are the challenges accountants might face due to blockchain technology?
What are the challenges accountants might face due to blockchain technology?
- Blockchain will eliminate the need for professional judgment in accounting
- Blockchain technology will reduce the speed of transactions
- Accountants will no longer be needed in the industry
- Roles of accountants might change and they may need to develop new skills (correct)
What is one of the opportunities of blockchain technology mentioned in the text?
What is one of the opportunities of blockchain technology mentioned in the text?
- Reduction in transparency and trust in transactions
- Increased energy usage for businesses
- Limiting new business ideas
- Efficiency boost and trustworthy transactions (correct)
What is a challenge related to the context of blockchain technology mentioned in the text?
What is a challenge related to the context of blockchain technology mentioned in the text?
- Blockchain technology is universally beneficial for all types of businesses
- Blockchain technology does not pose any security risks
- Small companies might not benefit as much, and not everyone needs a blockchain (correct)
- Blockchain technology requires minimal energy usage
What is a concern regarding the theoretical framework of blockchain technology mentioned in the text?
What is a concern regarding the theoretical framework of blockchain technology mentioned in the text?
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What is mentioned as a security risk associated with blockchain technology in the text?
What is mentioned as a security risk associated with blockchain technology in the text?
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