Here is a great article about the need for better transparency and accountability utilizing open, freely-available technologies to assist in this marketplace. Distributed Ledgers, Blockchain, XBRL Data and New Assurance Services What about distributed ledgers? Distributed ledger (also called a shared ledger, or referred to as Distributed Ledger Technology) is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions. One form of distributed ledger design is the blockchain system which can be wither public or private
The regulation aims to set an appropriate and proportionate framework enabling crowdfunding platforms to operate cross-border under a comprehensive passporting regime and unified supervision;2 An EU Public Blockchain initiative of the European Commission to develop a comprehensive strategy for implementation of distributed ledger technologies in all sectors of the economy, considering the associated legal implications; A public consultation on further digitalization of regulated information about companies listed on EU regulated markets, considering a possible establishment of a European Financial Transparency Gateway based on distributed ledger technology; and Hosting an EU FinTech Laboratory, which will serve as a platform for neutral exchange among European and national authorities with technology providers.
The Bank of England, not known for technological flights of fancy, seems electrified: distributed ledgers, it concluded in a research note late last year, are a “significant innovation” that could have “far-reaching implications” in the financial industry.”
ATTENTION: IMA MEMBERS -- Its not too late to register for the DATA AMPLIFIED GLOBAL CONFERENCE IN PARIS The IMA is an ASSOCIATION PARTNER and Strategic Finance Magazine is a Media Partner for the Conference 15% DISCOUNT IS AVAILABLE FOR IMA MEMBERS AROUND THE WORLD USING IMA15 DISCOUNT CODE WHEN REGISTERING FOR THE CONFERENCE European Securities & Markets Authority (ESMA), European Central Bank (EBA) and other European Regulators will be discussing mandates requiring the use of XBRL for business reporting data format including updates related to the US Securities & Exchange Commission (US SEC) regarding the mandate using Inline XBRL and the opportunity for foreign filers to use the IFRS accounting standard if using the XBRL data standard Blockchain, Distributed Ledgers, Smart Contract, Sustainability Reporting/Accounting and the use of LEI to be some of the additional topics to be discussed at the global conference.
data quality data scientist data steward data visualization dcolgren Deloitte Department of Commerce Department of Labor Digital Media disclosure Distributed Ledger documentation Dow Jones EDGAR System Elizabeth Warren emerging techs Enhanced Reporting ENRON EPA Equity Research ERM Ernst Young ERP ESG ESMA Excel Executive Compensation Executive Pay EY FASB FBI FCW Federal Reserve FEI financial information financial modeling financial reporting Financial Services...
Can management accountants move into these new areas of FinTech, RegTech, Blockchain, Distributed Ledgers, Smart Contracts and the need for structured data services and data assurance grows in the marketplace?