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Security, accounting, and product identity on the blockchain
Gain insights from Dr. Craig Wright’s Bitcoin Masterclass in London, May 2023. Discover discussions on security, accounting, and product identity on blockchain, as participants brainstorm innovative blockchain applications and explore the intersection of privacy and transparency in financial transactions.
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Ideas for accounting efficiency
In the third session on day two, Dr Wright asked the attendees to break out and discuss the different ways that efficiency in accounting can be improved.
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Benford Transactions for fraud detection
In the second session on day two, Dr Wright discussed Benford transactions and how they relate to privacy. Wright refers to ‘Benford’s Law’ in accounting as a means to spot unusual activity in seemingly random series of transactions.
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Monitoring transactions across multiple systems
Dr Wright began the second day by discussing the monitoring of transactions across multiple systems and linking these to a single user.
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Workshop on accounting and mapping transactions on-chain
In the final session on the first day, the attendees split into groups to discuss the different business use cases to utilise the concepts discussed so far. This includes tokenisation, accounting, and mapping transactions on-chain.
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General ledgers and controls
In the second session in Zurich, Dr Wright discussed general ledgers and controls and asked members of the audience how triple-entry accounting and mapping transactions on-chain can be used in real-life use cases.
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Double-entry accounting vs blockchain’s triple-entry ledger
In the first session, Wright explained that the reason double-entry accounting was created was to solve some of the problems with error entry—with a double-entry book, two columns need to match, creating a check and a balance.
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How blockchain is bringing order to the chaos of the music industry
There are decades-old inefficiencies in the music industry. While the media carriers have long been digital, tracking digital rights, accounting and royalty collection are not. Read how blockchain can bring order to this chaotic situation.