The Integration of Blockchain Technology in Accounting Systems: Challenges, Opportunities, and Future Trends

Abstract

This study investigates how blockchain technology is being used for enhancing transparency and anti-fraud measures in accounting against the background of scalability issues, regulatory and adoption challenges. Based on applying regression analysis, multiple regression, and ANOVA, results show a great positive correlation of blockchain scalability to enhanced financial transparency, with a value of 0.939 for R². The findings point out that blockchain can improve security, avoid fraud, and streamline accounting procedures. Barriers to adoption include high implementation fees, regulatory uncertainty, and change resistance. The study concludes that awareness needs to be raised, training made available for accounting practitioners, clear regulatory guidelines devised, and finance and technology stakeholders caused to harmonize while implementing blockchain technology. In line with the current research, these findings complement the ability of blockchain in changing the way finance reporting and auditing are done. Implications in the future are that with enhancement in scalability measures and regulatory laws, blockchain could become a foremost tool in the provision of accountability, automation, and efficiency gains in accounting mechanisms.