Best known as the technology that underpins the Bitcoin currency, Blockchain is, by all accounts, transformative.
The finance industry is buzzing with the opportunities that Blockchain could provide in terms of how the global economy works and how businesses record transactions.
Essentially, Blockchain works as a global and public ledger, without a central database that can be tampered with. It is a permanent record that cannot be corrupted, creating a trail of financial DNA.
The excitement is understandable. Blockchain has the capacity to revolutionise the finance industry, bringing the ledger into the digital age. In accounting that means all transactions relating to a business could be logged in an internal Blockchain and recorded centrally, allowing auditors or regulators to inspect a business’s books in real-time.
At Sage, we believe in real-time accounting. We recognised that the accounting practices of most small and medium businesses were outdated and hadn’t changed their processes much over the last few centuries. We set out to fix that by launching Sage Live - making accounting real-time and giving everyone a reliable, live view of how their company is performing.
About Jennifer Warawa
As executive vice president for product marketing, I lead the product marketing organization and strategy for Sage worldwide.