Triple-Entry Accounting

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One of the great innovations made possible with the advent of blockchain technology is the development of triple-entry accounting. Triple-entry accounting is a term for a new method of accounting, that was proposed in the 1980’s. It was more recently popularized when Ian Grigg associated it with blockchain technology. Triple entry accounting is an enhancement to the traditional double-entry system in which all accounting entries involving outside parties are cryptographically sealed and linked through a smart contract to a third entry.

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