Tag Archives: Blockchain

Would Triple Entry Accounting Have Saved Thomas Cook?

A Thomas Cook airplane. Now grounded. By Von Milborn / Wikipedia The world’s leading tourism corporation filed for liquidation after years of accounting malpractice. A new accounting technology might have prevented that. On June 9th 1841, Baptist priest Thomas Cook set out to walk from Market Harborough to Leicester (15 miles) to attend a Temperance…

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Bitcoin & AI: Trap for Sex Traffickers

Source: Cristian Newman, Unsplash Rebecca Portnoff from Berkley University created an algorithm that can track sex traffickers with the help of Bitcoin. Many prostitutes do not offer their services voluntarily. They are often abducted, sold and forced into prostitution. This range of services is shifting more and more to the Internet in order to offer the prostitutes…

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The Need & the Folly of Bitcoin as Payment Method

Only Cash Makes Happy. Or Does It? Photo: Jonathan Saavedra (Unsplash) Will Bitcoin prevail as a means of payment and in which areas? Let’s first look at what Bitcoin sets out to replace: Credit cards. The process of paying by credit card for online purchases is more complicated than customers usually think. The procedure is the…

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BlockchainTech: Can Triple Entry Accounting Save the World?

Luca Pacioli, father of modern accounting. Source: Wikipedia Before you finish this article, you will have fallen in love with double entry accounting, mourn its failing and rejoice with us in saving the world up to $4 Trillion[1] in losses due to fraud. The Notting Hill Carnival is one of London’s most colourful annual events with…

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Silk Road: A Cautionary Tale about Online Anonymity

Are bitcoin and the Darkweb as anonymous as people think? Screenshot of Silk Road online shop. One of the biggest allures, and criticisms, of cryptocurrencies is their anonymity. Bitcoin transfers are publicly available, but only linked to an account number and not a person. But bitcoin isn’t actually that anonymous after all. Experts call it “pseudonymous,” comparable…

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