Blockchain is a technique for creating a highly tamper resistant, fault tolerant ledger for recording and validating transactions using encryption. While some think of blockchain exclusively as the engine behind cryptocurrencies like Bitcoin and Ethereum, the blockchain protocol has many other uses, and can be configured to offer anonymity and run on a decentralized basis. Innovations like smart contracts, cryptocurrencies administered by national banks, and its use for recording permanent records like land transfer records and private company stock ledgers. This session will provide an introduction to this disruptive technology, and will provide insights into how it might change the way we do business in the future.
DESIGNED FOR
All CPAs
BENEFITS
- Explain the key items associated with a blockchain: tokens, coins, digital wallets, transactions, nodes, hashes, and blocks
- Describe at least two use cases for a blockchain-based ledger
- Name the two methods for obtaining consensus among the nodes in a blockchain-based ledger
- List at least three cryptocurrencies which are secured with blockchain-based ledgers
HIGHLIGHTS
- What Is A Blockchain?
- Fundamental Components Of Blockchain
- Types Of Blockchain-based Ledgers
- How Do The Nodes In Blockchain Record Transactions???
- Behind The Scenes: Blocks And Hashing
- Audit and Governance Issues
PREREQUISITES
None
ADVANCE PREPARATION
None
ADDITIONAL NOTES
IRS Program Number: 90EKV-T-00276-20-O **Please Note: If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.