Blockchain and XBRL – the centauromachy? A literature review

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Abstract

Blockchain is seen as revolutionary or incremental change technology. Very often in the existing literature the double-entry bookkeeping is mentioned as a business case for blockchain, which enables major efficiency gains by distributed technology and elimination of traditional intermediaries such as auditors or banks. In the last twenty years a technological revolution also occurred fueled by the widespread diffusion of the internet. With regard to Financial Reporting, this trend also generated the development of Extensible Business Reporting Language (XBRL), which many accounting experts expect to revolutionize financial reporting since it allows corporate financial information to be aggregated, transmitted and analyzed quicker and more accurately. Blockchain and XBRL combined may represent a “centauromachy”. Our study summarises the existing literature.

Details

Original languageEnglish
JournalJournal of Applied Research in the Digital Economy
VolumeSpecial Issue, 2
Issue number1
Publication statusPublished - 30 Dec 2019
MoE publication typeA1 Journal article-refereed

ID: 40361508