Episode 4

Juan Ignacio Ibañez on Triple Entry Accounting

Juan Ignacio Ibañez on Triple Entry Accounting

What We Discuss With Juan Ignacio Ibañez

All of you will be familiar with a double entry accounting framework, the bookkeeping system where all debits must be equal to the amounts entered as credits.

But even if your accounts are balanced, that does not necessarily mean the reporting figures are free from misstatements, whether due to fraud or error. Which is the reason why audits are required.

Triple Entry Accounting allows for a shared ledger and with the advent of blockchain, this shared ledger can now be trusted due to the inherent features of cryptography.

When I first read Triple Entry Accounting,I had the firm conviction that if what this accounting framework promises in theory could be applied in practice, it can be set to revolutionize the future of bookkeeping.

In this episode, we discuss;

  • The limitations of the current double entry accounting system;
  • What triple entry accounting really means and how blockchain has made the idea viable;
  • Use cases and examples of companies building business applications using the framework of triple entry accounting;
  • Challenges and solutions to accelerate adoption of triple entry accounting;
  • And many more…
Connect with
Juan
Juan Ignacio Ibañez
Researcher @ Centre for Blockchain Technologies
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