EMERGING SOLUTIONS FOR INTEGRATING BLOCKCHAIN TECHNOLOGY INTO THE FINANCIAL-ACCOUNTING INFORMATION FLOW

Lucian Gheorghe Nä‚stase, Dumitru Bejinariu and Florin Radu
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Lucian Gheorghe Nä‚stase: Valahia University, Targoviste, Romania
Dumitru Bejinariu: Valahia University, Targoviste, Romania
Florin Radu: Valahia University, Targoviste, Romania

Social-Economic Debates, 2024, vol. 13, issue 1, 50-60

Abstract: In the era of accelerated digitalization, blockchain technology is becoming a promising solution for optimizing financial and accounting information flows, bringing transparency, security and efficiency in transaction management. The implementation of blockchain in a Billing Data and Payments/Receipts (CDFPI) confirmation system, highlights how smart contracts and security protocols can reduce the risk of errors and fraud, while ensuring voluntary tax compliance. By integrating the public blockchain, the proposed system offers a robust architecture that guarantees both the confidentiality and verifiability of transactions, contributing to the modernization and security of accounting processes.

Keywords: blockchain technology; smart contract; financial-accounting information flow; eInvoice (search for similar items in EconPapers)
JEL-codes: F32 F52 L81 M41 (search for similar items in EconPapers)
Date: 2024
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