Blockchain in accounting practice and research: A systematic literature review

This study aims to review the academic literature on the utilization of blockchain in accounting practice and research to identify potential opportunities for further scientific investigation and to provide a framework about how accounting practice are impacted by blockchain. The present article is based on a systematic literature review of 234 research products available on Scopus, which were mapped with bibliometric analyses and critically discussed in relation to three main topics, namely, the impact of blockchain on accounting and auditing, cryptoassets and finance, business models and supply chain management. Blockchain has many potential implications for accounting practice and research. Besides providing the state of the art of accounting research on blockchain and additional avenues for further studies, this manuscript discusses why practitioners have an interest in this technology: triple-entry bookkeeping, inalterability of transactions, automatization of repetitive tasks that do not require discretionary choices, representation of cryptocurrencies in financial statements, management of value chains, social and environmental auditing and reporting, business models innovation. The novel contribution of this study is integrated and threefold. First, this SLR provides a clear picture of the state of the accounting research on blockchain using bibliographic and narrative analyses. Second, it investigates how accounting and auditing practice will be impacted by blockchain. Third, it contributes to the accounting literature with its discussion of the potential future research trends related to blockchain for accounting.