Triple-entry Accounting, Blockchain and Next of Kin: Towards a Standardization of Ledger Terminology

35 Pages Posted: 18 Feb 2021

See all articles by Juan Ignacio Ibañez

Juan Ignacio Ibañez

UCL Centre for Blockchain Technologies; The DLT Science Foundation

Dr. Chris N. Bayer

Development International e.V.

Paolo Tasca

UCL Centre for Blockchain Technologies

Jiahua Xu

University College London - Department of Computer Science; The DLT Science Foundation; École Polytechnique Fédérale de Lausanne; UCL

Date Written: January 5, 2021

Abstract

Triple-entry accounting (TEA) is one of the novelest notions in the blockchain world. However, the lack of a consistent and comprehensive set of categories to give account of it impedes a proper apprehension of the concept, leading to contradictions and to overlooking its specificity. In order to clearly delineate the confines of TEA, we create a typology to distinguish between essential elements such as accounting and bookkeeping, as well as between decentralized systems, distributed ledgers and distributed journals.

Keywords: triple-entry accounting, blockchain, Distributed Ledger Technology, decentralization

Suggested Citation

Ibañez, Juan Ignacio and Bayer, Dr. Chris N. and Tasca, Paolo and Xu, Jiahua, Triple-entry Accounting, Blockchain and Next of Kin: Towards a Standardization of Ledger Terminology (January 5, 2021). Available at SSRN: https://ssrn.com/abstract=3760220 or http://dx.doi.org/10.2139/ssrn.3760220

Juan Ignacio Ibañez (Contact Author)

UCL Centre for Blockchain Technologies ( email )

UCL CBT UCL Computer Science
Malet Place London WC
London, London WC1E 6BT
United Kingdom

The DLT Science Foundation ( email )

United Kingdom

Dr. Chris N. Bayer

Development International e.V. ( email )

Germany

HOME PAGE: http://https://www.developmentinternational.org/

Paolo Tasca

UCL Centre for Blockchain Technologies ( email )

Gower Street
London, WC1E 6BT
United Kingdom

HOME PAGE: http://paolotasca.com

Jiahua Xu

University College London - Department of Computer Science ( email )

London
United Kingdom

The DLT Science Foundation ( email )

London
United Kingdom

École Polytechnique Fédérale de Lausanne ( email )

Quartier UNIL-Dorigny, Bâtiment Extranef, # 211
40, Bd du Pont-d'Arve
CH-1015 Lausanne, CH-6900
Switzerland

UCL ( email )

UCL Computer Science
Malet Place London WC
London, London
United Kingdom

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