Triple-entry Accounting, Blockchain and Next of Kin: Towards a Standardisation of Ledger Terminology

• URL: http://arxiv.org/abs/2101.02632v3
• Date: Tue, 08 Apr 2025 15:09:42 GMT
• Title: Triple-entry Accounting, Blockchain and Next of Kin: Towards a Standardisation of Ledger Terminology
• Authors: Juan Ignacio Ibañez, Chris N. Bayer, Paolo Tasca, Jiahua Xu,
• Abstract summary: Triple-entry accounting (TEA) is simultaneously a novel application in the blockchain universe.<n>We provide building blocks to standardise TEA's terminology.<n>We distinguish between essential elements such as accounting and bookkeeping, as well as between decentralised systems, distributed ledgers and distributed journals.
• Score: 4.181095166452762
• License: http://creativecommons.org/licenses/by/4.0/
• Abstract: Triple-entry accounting (TEA) is simultaneously a novel application in the blockchain universe and one of the many concepts applied in blockchain technology. Its Wild Wild West status is accompanied by a lack of consistent and comprehensive set of categories, a state of play that impedes a proper apprehension of the technology, leading to contradictions and oversight of important nuances. To clearly delineate the confines of TEA within the world of blockchain, we provide building blocks to standardise its terminology. Particularly, we distinguish between essential elements such as accounting and bookkeeping, as well as between decentralised systems, distributed ledgers and distributed journals.

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