This webcast will focus on demystifying the blockchain technology by helping you understand the benefits and opportunities of blockchain technology, and preparing you to weigh the risks and challenges as you consider implementing this technology within your organization. In addition, this webcast focuses on current overall blockchain trend and some potential affects to the practitioner.
Learning Objectives
Identify the four characteristics of the Bitcoin blockchain
Recall the three parts of a zero-knowledge proof, what the concept solves, the security breakthrough, and the non-financial benefits
Recognize how blockchain provenance affects supply chain and the paradigm shift from the push supply chain to the pull demand chain as well as the benefits of decentralized file storage and prediction markets
Recall the most significant problems with digital identity and know-your-customer (KYC) regulations, how blockchain shifts control of identities back to the individual and solves the identity fraud problem while saving billions of dollars
Distinguish the industry specific applications of blockchain especially for accounting, tax and legal including the single entry accounting limitation of existing blockchains
Distinguish between risks associated with human factors and risks outside the control of the person or organization
Identify regulatory risks, standards, and legality associated with blockchain and cryptocurrency adoption
Recall how key management is critical for securing cryptocurrency and how it relates to legacy risk and long-term security
Recognize how governance, consensus, and fork and chain splits risks are related to one another and the challenges of managing chain split coins
Identify risks that are future focused
Identify limitations of blockchains and their solutions
Recall how the internet of things (IoT) will increase an auditor’s scope
Recall the value propositions and accounting challenges of stable coins and privacy coins
Recognize how mechanized proofs solve security issues with smart contracts and reduce risk for end users
Recall the benefits and challenges of initial coin offerings
Major Topics
Characteristics of Bitcoin blockchain
Zero-knowledge proof
Blockchain provenance and the affect to the supply chain
Issues with digital identity and know-your-customer regulations
Industry specific applications of blockchain
Risks with human factors vs. risks outside control of a person
Regulatory risks, standards and legality related to blockchain and cryptocurrency
Management role in securing crytocurrency
Relation among risk of governance, consensus and fork and chain splits
Future risk related to blockchain
Limitation and solutions of blockchain
Internet of things and increase of auditor’s scope
Accounting challenges of stable and privacy coins
Security issues with smart contacts
Benefits and challenges of initial coin offerings
Provider
AICPA
Course Level
Basic
CPE Field of Study
Information Technology
4.5
Who Should Attend
Non-IT finance professionals, CFOs, controllers, management accountants, public accountants, partners, staff, managers and internal auditors
