Potentiality of blockchain accounting: an opinion survey of blockchain developers Online publication date: Tue, 08-Aug-2023
by Shilpa Lodha; Shurveer Singh Bhanawat
International Journal of Blockchains and Cryptocurrencies (IJBC), Vol. 4, No. 2, 2023
Abstract: The current study seeks to investigate distinct elements of block chain technology that are now in use in the real world. In this attempt, an opinion poll of real-life blockchain developers was conducted to determine which practices were the best globally. In total, 127 blockchain developers from around the world were contacted, and comprehensive responses were obtained from them. Blockchain technology was discovered to be the most commonly employed in accounting and cryptocurrency transactions, followed by supply chain and logistics. It was also discovered that the most popular or most used blockchain platforms were Ethereum and Hyperledger Fabric. Suitability for business, security, and scalability emerged as the top three criterion for enterprises when selecting a blockchain platform. Respondents placed 'designing cost', 'coding and testing costs', and 'cost of deployment on cloud platforms' as the top three cost considerations related with the adoption of blockchain technology.
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