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Trustless Technology within Trust-Based Systems; A Comparative Study of the Big Four’s Approach to Blockchain Adoption and its Future Prospects

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  • Amjad Pirotti
  • Amir Roknifard

Abstract

Technological developments and industrial adaptations are leading to a fundamental change in how industries and strategy function in the world today. Disruptive technologies are forcing us to reconsider the way we make decisions, and the models that were previously in place for delivering products and services. Blockchain in particular has demonstrated its ability to completely upend industry as we know it. Its main strengths lie in the fact that it is decentralized, unchangeable, anonymous and auditable. In this paper, we present a comparative study on the Big Four accounting firms’ approach to Blockchain development and adoption. We first give an overview of the blockchain technology and key characteristics of the blockchain and its applications. Furthermore, we discuss some existing approaches for blockchain development and application in the Big Four accounting firms and highlight the opportunities and future prospects of blockchain technology that can be utilized by the four professional services conglomerates.

Suggested Citation

  • Amjad Pirotti & Amir Roknifard, 2020. "Trustless Technology within Trust-Based Systems; A Comparative Study of the Big Four’s Approach to Blockchain Adoption and its Future Prospects," Business Management and Strategy, Macrothink Institute, vol. 11(1), pages 232-242, June.
    • Handle: RePEc:mth:bmsmti:v:11:y:2020:i:1:p:232-242
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    References listed on IDEAS

    as
    1. Maria Karajovic & Henry M. Kim & Marek Laskowski, 2019. "Thinking Outside the Block: Projected Phases of Blockchain Integration in the Accounting Industry," Australian Accounting Review, CPA Australia, vol. 29(2), pages 319-330, June.
    2. Peters, Gareth W. & Panayi, Efstathios & Chapelley, Ariane, 2015. "Trends in cryptocurrencies and blockchain technologies: a monetary theory and regulation perspective," Journal of Financial Perspectives, EY Global FS Institute, vol. 3(3), pages 92-113.
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    Cited by:

    1. Ameyaw, Prince Donkor & de Vries, Walter Timo, 2023. "Blockchain technology adaptation for land administration services: The importance of socio-cultural elements," Land Use Policy, Elsevier, vol. 125(C).
    2. Erica Pimentel & Emilio Boulianne, 2020. "Blockchain in Accounting Research and Practice: Current Trends and Future Opportunities," Accounting Perspectives, John Wiley & Sons, vol. 19(4), pages 325-361, December.

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    More about this item

    JEL classification:

    • R00 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General - - - General
    • Z0 - Other Special Topics - - General

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