Episode 49: Blockchain 101: Implications for Accounting Firms, with John Shaw

Featuring John Shaw interviewed by Steven Sacks for CPA Trendlines.In Blockchain Basics for Business, Steve Sacks interviews Jack Shaw on the elements of the technology, its early beginnings, the industries impacted, and the practical business applications.Key takeaways:Bitcoin is only an application of Blockchain which is the platformDecentralized nodes eliminate the possibility of hackingBlockchain has many business uses in the financial, insurance, media, medical, consumer and supply chainIndustries impacted by blockchain include energy, entertainment, manufacturing and transportationBlockchain stores records such as identities, ownership of assets, business transactions and contractual commitments