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Blockchain articles

Read our latest features and articles on blockchain.

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Crypto investor brands most NFTs worthless after bubble begins to deflate

Bitcoin and cryptocurrency prices have been on a roller coaster over recent months, surging to never-before-seen highs before crashing back.

Is crypto now inevitable

Bitcoin has drawn mainstream financial interest, but will it establish itself as a legitimate asset class, asks Billy Bambrough.

Blockchain trends

Blockchain technology offers continuous, real-time accounting, makes fraud more difficult and will be a valuable tool for all stakeholders. Alexis Nicolau argues its importance for the audit profession and its future.

Blockchain moves into the mainstream

Blockchain often tops the rankings of website faculty hits, so what’s going on? Lesley Meall explores some recent developments, trends and challenges.

Blockchain: count every vote? Yes you can!

Gavin Brown November 2020

9 November 2020: In light of the ongoing US election controversy, fintech academic and chartered accountant Gavin Brown predicts the implementation of new blockchain-style voting methods, giving us incontestable results in hours rather than days or weeks.

How Hayek predicted Bitcoin and the rise of crypto

Stephen Lynch October 2020

30 October 2020: Cryptocurrencies represent the real-world implementation of Nobel Prize-winning economist Friedrich Hayek’s thesis for monetary systems, writes Stephen Lynch.

Getting to grip with the growth of cryptocurrency

The growing popularity of cryptocurrencies means auditors need new skills and knowledge in that area, says David Lyford-Smith.

New kids on the blockchain

Business owners spend a lot of time eyeing new technologies to ensure their practices don’t get left behind.

Blockchain and cryptoassets in entertainment sport and media

In a world where technology is constantly evolving, many accountants may not be aware of the potential threats and opportunities this poses to their profession.

Building the future

Thomas Toomse-Smith examines how technology could evolve the annual report.

Talking blockchain at the EAA

David Lyford-Smith June 2019

A couple of weeks ago, I had the pleasure of representing the faculty at the EAA 42nd annual congress in Paphos, Cyprus - the European Accounting Association being Europe's largest academic conference on accountancy. As well as meeting delegates on our stand and attending some of the talks, ICAEW hosted a symposium entitled "Blockchain and the future of accountancy" - after my paper of the same name.

Byte size: Tech news roundup

A roundup of the latest news surrounding technology. This edition includes enhancements to Bluetooth, statistics on the usage of artificial intelligence, and a teenager earning a ‘bug bounty’ for finding a flaw in FaceTime.

World of opportunity – Sue Almond on how audit is changing

Nigel Sleigh-Johnson gets a global perspective on how audit is changing from Sue Almond, head of assurance at Grant Thornton International.

Igor Pejic: Blockchain expert

Blockchain expert Igor Pejic talks to journalist Chris Evans about blockchain and how the back-office technology could transform financial services

Shining a light on cryptocurrency

Michelle Robinson Taxline January 2019

Michelle Robinson considers cryptocurrency and how it should be taxed. She explores cryptomining and passive investors, as well as giving some practical examples and explaining why HMRC does not consider cryptocurrency to be currency or money.

Fintech innovation in London and Singapore

As fintech grows in popularity, so does the ambition of countries wanting to grow the sector. Kirstin Gillon, technical manager in the IT Faculty, explains what can be learned from London and Singapore – including the importance of the Monetary Authority of Singapore and the Financial Conduct Authority.

How business and public blockchains differ

The best known blockchains are public and can be joined by anyone, but this would be impractical for business. Instead companies are creating permissioned blockchains to take advantage of the technology’s benefits in a secure environment. Find out more

When is blockchain the right solution?

Virtually any activity that can be run on a database, could be moved onto a blockchain platform, but whether approach is beneficial will depend on the organisation’s circumstances. Find out what you need to consider when thinking about implementing blockchain.

Why join a blockchain consortium?

Organisations are increasingly collaborating to explore and scale blockchain solutions, forming groups referred to as consortia. Joining a consortium offers a way to lower risk and share innovations, supporting the successful implementation of blockchain.

Benefits of blockchain for finance

The application of blockchain within business is still emerging, but there are a number of benefits that are expected to flow through to finance from the technology’s use in wider business processes. Find out what they could mean for your work.

The seven technologies transforming finance work

Disruptive technologies are creating opportunities for accountants to use their skills in faster and more efficient ways. Tim Leung, Management Consultant at Deloitte, outlines the key technologies which the big four firm believes are transforming finance in his webinar: "Visualising finance transformation in a digital world".

Win, place and show

Increased use of cryptocurrencies creates challenges and questions for auditors and audit entities. Peter Mandich considers some emerging issues

Steps to minimise supply chain fraud

As businesses are becoming increasingly reliant on longer, more complex supply chains, the opportunities for fraud are increasing. Tim Philips looks at what can be done to prevent it. Includes an example of the use of blockchain to combat fraud in food fraud.

Blockchain for accounting and reporting: Roundtable report

David Lyford-Smith January 2018

This meeting was held on Monday 20 November at Chartered Accountants’ Hall, and was co-hosted by ICAEW’s IT Faculty and the FRC Financial Reporting Lab. What follows is a summary of some key points from the discussion on the nature of blockchain, where block chains make a difference and actions for the future.

How Blockchain Is Changing The Accountancy Profession

IT Faculty technical manager David Lyford-Smith highlights the faculty’s latest paper on how blockchain is affecting the accountancy profession – particularly why accountants need to have blockchain on their radar.

Symphony of Data

Nina Bryant Chartech September/October 2017

Leanne Kemp explains to Nina Bryant how Everledger’s implementation of blockchain in the diamond industry is lighting the way for other sectors.

Testing the water

With the second wave of firms ready to take the plunge with the FCA’s regulatory sandbox, Paul Golden examines what opportunities lie ahead for those involved – and the fintech industry as a whole

ICAEW’s South-East Asian road trip

IT Faculty technical manager David Lyford-Smith recounts the faculty’s two-week trip across South-East Asia, discussing how technology is changing accounting, with a particular focus on skills.

Solid as a block

Peter Randall, CEO of SETL, explains to Nina Bryant how blockchain will radically transform financial services.

Meeting the digital challenge

Technology is changing the way we interact with data. Former ICAEW president Andrew Ratcliffe asks how finance can assure information security.

Wholesale insurers get wise to blockchain's potential

A new report from Z/Yen and PwC report underlines the importance of blockchain for wholesale insurance.

AuditFutures: Unchaining the blockchain

AuditFutures August 2016

Read the AuditFutures publication following on from an event co-hosted by the IT Faculty, discussing blockchain technology and its implications for accountancy.

Set in Stone

David Lyford-Smith Chartech May/June 2016

Blockchain is considered as the system behind nefarious darknet transactions by some, but a source of innovation by others. David Lyford-Smith chips away the confusion.

The ledger of the future

Dawn Cowie FS Focus April 2016

Could blockchain technology be the next step in the evolution of ledgers? Dawn Cowie speaks to Charles Cooper, managing director at R3, about the development of this technology.