OpenPort

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About OpenPort
At OpenPort, we have committed ourselves to solving one of the biggest challenges in the modern supply chain – the cash flow problem. Proof of Delivery (POD) is typically made by paper records, which are slow and open to dispute, affecting customer satisfaction and del...
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$25 - $49/hr
50 - 249
2015
China
OpenPort
Shipped. Tracked. Paid.
0.0 (0 Reviews)
Services

Blockchain

OPN Token

Focus
Service Focus
Discussions
  • Accounting
  • Blockchain
  • Business Services
1 Answer
 The advent of cryptocurrencies such as Bitcoin and Ethereum brought blockchain into existence, it’s a decentralized technology which is built by the people and for the people. Earlier people considered it as a passing fad but after it stirred up the payments, supply and distribution and the revenue cycle – blockchain became a thread to the government, organisations and accounting industry. A potential power that could shake the decades of their entrenched control.There are multiple signs that the financial accounting profession is already entering a new era of technological advancement with the potential impact of blockchain technology. It acts as a catalyst that automates the tracking of each transaction that takes place and compliance. It has reinforced the accounting by making the auditing transparent, by enhancing the business opportunities with global reach and by making the system more secure. Several factors contribute to the recent surge in interest among businesses and organizations in adopting this technology. The most important is the fact that businesses can significantly increase their profit margins by automating most of their accounts. It also reduces overhead costs, as most transactions and activities related to the business can now be handled by the automation. Besides, this automation also eliminates the need for additional employees and therefore, costs associated with human error. These are not to mention the fact that business owners can cut back on operating expenses and the overall amount of resources required to run the business.Not just these benefits, blockchain can even cultivate a new-age foreign exchange which will eliminate the costs incurred by cross-border business transactions.Opportunities in the field of accounting are apparent as the entire framework of borderless network architecture is witnessing widespread adoption and implementation. Moreover, an investor should not overlook the potential for future gains by investing in this particular technology. All things consideredIt can certainly be seen that the future of accounting is definitely not bleak at all. There are a lot of capabilities to be found in the future of accounting. You just need to make sure that you have an accurate idea of what it will entail before you start investing in blockchain technology.
 The advent of cryptocurrencies such as Bitcoin and Ethereum brought blockchain into existence, it’s a decentralized technology which is built by the people and for the people. Earlier people considered it as a passing fad but after it stirred up the payments, supply and distribution and the revenue cycle – blockchain became a thread to the government, organisations and accounting industry. A potential power that could shake the decades of their entrenched control.There are multiple signs that the financial accounting profession is already entering a new era of technological advancement with the potential impact of blockchain technology. It acts as a catalyst that automates the tracking of each transaction that takes place and compliance. It has reinforced the accounting by making the auditing transparent, by enhancing the business opportunities with global reach and by making the system more secure. Several factors contribute to the recent surge in interest among businesses and organizations in adopting this technology. The most important is the fact that businesses can significantly increase their profit margins by automating most of their accounts. It also reduces overhead costs, as most transactions and activities related to the business can now be handled by the automation. Besides, this automation also eliminates the need for additional employees and therefore, costs associated with human error. These are not to mention the fact that business owners can cut back on operating expenses and the overall amount of resources required to run the business.Not just these benefits, blockchain can even cultivate a new-age foreign exchange which will eliminate the costs incurred by cross-border business transactions.Opportunities in the field of accounting are apparent as the entire framework of borderless network architecture is witnessing widespread adoption and implementation. Moreover, an investor should not overlook the potential for future gains by investing in this particular technology. All things consideredIt can certainly be seen that the future of accounting is definitely not bleak at all. There are a lot of capabilities to be found in the future of accounting. You just need to make sure that you have an accurate idea of what it will entail before you start investing in blockchain technology.

 

The advent of cryptocurrencies such as Bitcoin and Ethereum brought blockchain into existence, it’s a decentralized technology which is built by the people and for the people. Earlier people considered it as a passing fad but after it stirred up the payments, supply and distribution and the revenue cycle – blockchain became a thread to the government, organisations and accounting industry. A potential power that could shake the decades of their entrenched control.

There are multiple signs that the financial accounting profession is already entering a new era of technological advancement with the potential impact of blockchain technology. It acts as a catalyst that automates the tracking of each transaction that takes place and compliance. It has reinforced the accounting by making the auditing transparent, by enhancing the business opportunities with global reach and by making the system more secure

Several factors contribute to the recent surge in interest among businesses and organizations in adopting this technology. The most important is the fact that businesses can significantly increase their profit margins by automating most of their accounts. It also reduces overhead costs, as most transactions and activities related to the business can now be handled by the automation. 

Besides, this automation also eliminates the need for additional employees and therefore, costs associated with human error. These are not to mention the fact that business owners can cut back on operating expenses and the overall amount of resources required to run the business.

Not just these benefits, blockchain can even cultivate a new-age foreign exchange which will eliminate the costs incurred by cross-border business transactions.

Opportunities in the field of accounting are apparent as the entire framework of borderless network architecture is witnessing widespread adoption and implementation. Moreover, an investor should not overlook the potential for future gains by investing in this particular technology. 

All things considered

It can certainly be seen that the future of accounting is definitely not bleak at all. There are a lot of capabilities to be found in the future of accounting. You just need to make sure that you have an accurate idea of what it will entail before you start investing in blockchain technology.

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OpenPort
22/F, Tai Yau Building, 181 Johnston Road, Wan Chai,, Hong Kong, Hong Kong S.A.R 100025
China