Blockchain Gap: Posting Process

We’ve discussed the blockchain gaps of liquidity management, double entry accounting, and reporting integration.  This week’s episode discusses posting processes. The purpose of posting processes is almost forgotten in today’s world of ubiquitous computing.  But they are still used in nearly every major business process–every ledger–to state a position as of a point in time. All analytical processes begin with a balance, with a position. … Continue reading Blockchain Gap: Posting Process

Blockchain Gap: Reporting Integration

Today’s episode is in response to a question from Steven Ulmer about the challenges of reporting using Blockchain. The development of papyrus in ancient Egypt was a breakthrough technology, but today if one needs to write a contract or record transactions in a ledger, it’s not that expensive to buy a piece of paper. Deciding what to write down is much, much more expensive.  It … Continue reading Blockchain Gap: Reporting Integration

Blockchain Gap: Double Entry Model

Almost everyone knows that accounting deals with debits and credits; but many fewer people know what the purpose of those are.  The purpose of a ledger was to show a position as of a point in time–and it does this through the use of balances.  Balances show how things stand at some particular point. But a ledger is not a static thing.  It changes all … Continue reading Blockchain Gap: Double Entry Model