Peer-to-Peer Electronic Accounting System
12 Pages Posted: 2 Aug 2018
Date Written: July 13, 2018
A peer-to-peer electronic accounting system is based on the fact that every transaction which effects two parties has equal and opposite effects in at least four accounts (two accounts for one party and two accounts for another party). It’s a developed system of a double entry accounting. But instead of concentrating on one party, it views a transaction and its effect on both parties at the same time. This system allows online double entry transactions between different parties.
Keywords: accounting, electronic accounting, peer-to-peer electronic accounting, electronic banking
JEL Classification: M41
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