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9 - Triple-Entry Accounting, Blockchain, and Next of Kin

Towards a Standardisation of Ledger Terminology

from Part III - Regulations and Compliance of Digital Assets

Published online by Cambridge University Press:  06 March 2025

By
Juan Ignacio Ibañez ,
Chris N. Bayer ,
Paolo Tasca  and
Jiahua Xu
Edited by
Reena Aggarwal  and
Paolo Tasca
Reena Aggarwal
Affiliation:
Georgetown University, Washington DC
Paolo Tasca
Affiliation:
University College London
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Summary

Triple entry accounting (TEA) is simultaneously a novel application in the blockchain universe and one of the many concepts applied in blockchain technology. Its Wild Wild West status is accompanied by a lack of consistent and comprehensive set of categories, a state of play that impedes a proper apprehension of the technology, leading to contradictions and oversight of important nuances. To clearly delineate the confines of TEA within the world of blockchain, we provide building blocks to standardise its terminology. Particularly, we distinguish between essential elements such as accounting and bookkeeping, as well as between decentralised systems, distributed ledgers, and distributed journals.

Keywords

Triple-entry accountingblockchaindistributed ledger technologydecentralisation
Type
Chapter
Information
Digital Assets
Pricing, Allocation and Regulation
 , pp. 198 - 226
Publisher: Cambridge University Press
Print publication year: 2025

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