Traditional accounting’s labor-intensive nature results in high human resource costs and decreased productivity. The ecosystem also includes a large number of order audits, delivery notes, invoices, and payment records. Other parties are usually in charge of verifying these documents. …

The initial application of blockchain was to create a decentralized, anonymous, and hack-resistant digital currency. Perhaps this explains why blockchain is most frequently employed in the financial sector. According to statistics, blockchain is used for 60% of all international money transfers (using cryptocurrencies, money transfer services powered by blockchain and…