Implementing Triple Entry Accounting System with pi Account on Block-chain Protocol

【Author】 Chen, Wang-Bor; Tsai, Ching-Tsorng; Tahnk, Jasper

【Source】JOURNAL OF INTERNET TECHNOLOGY

【影响因子】1.140

【Abstract】Lao Tzu ("(sic)") described in the Tao Te Ching ("(sic)") that "The Tao begat one". One begat two, Two begat three, and "three begat the myriad things". "Three" is a magic number in Chinese society, and we believe that "triple"-entry accounting can also magically connect to the world. We have verified that all accounting activities can be recorded on blockchain through the triple-entry accounting design, and transaction with layer-by-layer journal entry could connect all economic activities of the world each other. In this paper we redefine the term "triple entry accounting" with blockchain protocol and proposes new pi-account concept to visualize and analyze the journal entry of accounting book, and gain full picture of economic activity on blockchain. We also introduce hierarchical deterministic structure on blockchain protocol mapping into account book structure in compliance with international accounting standard. At the same time, we have verified that the distributed ledger technology has completely implement both internal and external straight through processing. In the near future, we will have a visual tool to exam the results of our research through data structure of triple-entry accounting.

【Keywords】Bitcoin; Triple entry accounting; Hierarchical deterministic structure; Block-chain protocol

【发表时间】2021

【收录时间】2022-01-02

【文献类型】

【主题类别】

--