BLOCKCHAIN INTEGRATION IN ACCOUNTING SYSTEMS: CHALLENGES AND FUTURE PROSPECTS

Blockchain technology offers significant potential to transform traditional accounting systems by enhancing transparency, security, immutability, and efficiency. This paper reviews the current state of blockchain integration in accounting, its key applications, major challenges, and future prospects. While blockchain enables real-time auditing, triple-entry accounting, and fraud reduction, barriers such as high implementation costs, regulatory uncertainty, interoperability issues, and skill gaps hinder widespread adoption. The review concludes that strategic integration, combined with regulatory support and technological advancements, could revolutionize accounting practices in the coming decade.

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