As an accounting technology, blockchain is being hailed as a gamechanger. Cryptocurrencies and other digital assets are receiving a growing amount of attention and interest from consumers, corporations, and governments, which is driving demand for blockchain.

While mainstream adoption has not taken hold just yet, it is becoming increasingly important to understand how blockchain technology can impact many aspects of an accountant’s role positively and negatively, particularly as it was recently highlighted as a major contributor to money laundering, with $8.6bn (£6.6bn) laundered through cryptocurrency in 2021.