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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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Document pages: 11 pages

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. Block-chain 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 audit-able. In this paper, we present a comparative study on the Big Four accounting firms’ approach to Block-chain development and adoption. We first give an overview of the block-chain technology and key characteristics of the block-chain and its applications. Furthermore, we discuss some existing approaches for block-chain development and application in the Big Four accounting firms and highlight the opportunities and future prospects of block-chain technology that can be utilized by the four professional services conglomerates.

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