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Emerging Solutions For Integrating Blockchain Technology Into The Financial-Accounting Information Flow

Author

Listed:
  • Lucian Gheorghe NÄ‚STASE

    (Valahia University, Targoviste, Romania)

  • Dumitru BEJINARIU

    (Valahia University, Targoviste, Romania)

  • Florin RADU

    (Valahia University, Targoviste, Romania)

Abstract

In the era of accelerated digitalization, blockchain technology is becoming a promising solution for optimizing financial and accounting information flows, bringing transparency, security and efficiency in transaction management. The implementation of blockchain in a Billing Data and Payments/Receipts (CDFPI) confirmation system, highlights how smart contracts and security protocols can reduce the risk of errors and fraud, while ensuring voluntary tax compliance. By integrating the public blockchain, the proposed system offers a robust architecture that guarantees both the confidentiality and verifiability of transactions, contributing to the modernization and security of accounting processes.

Suggested Citation

  • Lucian Gheorghe NÄ‚STASE & Dumitru BEJINARIU & Florin RADU, 2024. "Emerging Solutions For Integrating Blockchain Technology Into The Financial-Accounting Information Flow," Social-Economic Debates, Association for Entreprenorial Spirit Promotion, vol. 13(1), pages 1-10, iulie.
    • Handle: RePEc:sdb:social:v:13:y:2024:i:1:p:1-10
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    More about this item

    Keywords

    : blockchain technology; smart contract; financial-accounting information flow; eInvoice;
    All these keywords.

    JEL classification:

    • F52 - International Economics - - International Relations, National Security, and International Political Economy - - - National Security; Economic Nationalism
    • L81 - Industrial Organization - - Industry Studies: Services - - - Retail and Wholesale Trade; e-Commerce
    • M41 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Accounting - - - Accounting
    • F32 - International Economics - - International Finance - - - Current Account Adjustment; Short-term Capital Movements

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