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| The main chain (black) consists of the longest series of blocks from the genesis block (green) to the current block. Orphan blocks (purple) exist outside of the main chain. Illustration courtesy of Wikipedia. |
Four of the country’s largest accounting firms met in New
York City to discuss the possibility of creating a distributed ledger
consortium.
The meeting was held at Microsoft’s headquarters in NYC with
the American Institute of Certified Public Accountants and blockchain
specialists from Deloitte, Ernst & Young, KPMG and PwC. Together these “Big
Four” firms had $123.7 billion in revenue last year.
The format of the meeting will be a series of roundtable
discussions discussing hot the accounting industry can work together to develop
new blockchain standards.
Hosting the meeting is the startup Consensys, an
ethereum-focused company. The head of blockchain accounting at Consensys,
Griffin Anderson, who helped organize the meeting, said that the goal of the
meeting is to identify precisely how a blockchain can help companies to do
their job more efficiently, no matter which network they may decide to use.
"We are bringing together accounting blockchain industry experts to explore and to determine the value of a joint accounting and blockchain industry consortium," said Anderson.
