By Ben Taylor, Contributor November 28, 2017
If you’ve been keeping up with bitcoin, Ethereum and other cryptocurrencies over the past year, you’ve likely heard a lot about blockchain and its potential to revolutionize many industries. Another concept that has re-emerged as a result is called triple-entry accounting. At a high-level, triple-entry accounting is an alternative method of accounting in which a third component is added after the global standard debit and credit. It’s an interesting concept, given that it would be a significant departure from double-entry accounting, which the world of business has relied on for hundreds of years. It does not, however, have anything to do with blockchain.
In order to explain, it’s best to provide a quick background on double-entry accounting, followed by blockchain and triple-entry accounting.
More at: Triple-Entry Accounting And Blockchain: A Common Misconception – Forbes Investing #BigData