2min chapter

The Accounting Podcast cover image

2023 Predictions for the Accounting Profession

The Accounting Podcast

CHAPTER

The Problem With Blockchain Without Intermediaries Is That Nobody Controls the Funds

The problem with blockchain without intermediaries is if you don't have any intermediaries, then you're really at risk. If anybody has access to the key, a private key, that means whoever has access to that key can control the funds. So not one entity truly has control of a bank account. Because of this, there's just no, like it's almost impossible to audit because they don't actually, nobody actually controls the funds.

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