This is a guest post by Mohini Singh, ACA, Director Financial Reporting Policy at CFA Institute. Companies generally have regulatory filing requirements to multiple parties within and across different jurisdictions – and investors are also looking to use data from varied sources. Europe is currently testing blockchain as a distribution mechanism, in the hope that […]
Mohini Singh, ACA, Director of Financial Reporting, CFA Institute and Campbell Pryde, President and CEO, XBRL US have published a blog on the XBRL US website demonstrating why blockchain and AI cannot replace the XBRL standard. We sometimes hear the argument that XBRL is old technology and should be replaced with technologies like blockchain or […]
Data Amplified 2018 saw presentations demonstrating how entrepreneurs and reporting ecosystems are starting to use blockchain technology in reporting.
Dennis Knochenwefel, founder of Reportix, demonstrated the use of Inline XBRL and Blockchain to automate and enhance insurance contract management with “smart contracts” embedded into the system.
This week the Israel Securities Authority (ISA) said that it has started using blockchain technology to improve cybersecurity – particularly information security, to protect against fraud and ensure the data submitted to the ISA is safe. The ISA have embedded blockchain in their ‘Yael’ system, which is used by the government agency to deliver information […]
Digital technologies from blockchain to AI and big data to XBRL’s own computer-readable reporting format are transforming global business and the financial world. The world’s four largest auditors – Deloitte, Ernst & Young, KPMG and PwC – are working with 20 Taiwanese banks to test blockchain technology that provides a new way to conduct bank […]
The UK’s Financial Reporting Council Lab published a report this week that considers how blockchain technology could impact corporate reporting processes in the future. This follows an earlier report on XBRL. You can view the report here. We’ll follow up on this item in the near future.
Eight of Europe’s largest banks have taken the first steps in rolling out a new shared blockchain commerce platform – Digital Trade Chain. The joint venture’s distributed ledger framework is aiming to connect buyers, sellers, banks, and intermediaries, in order to ease domestic and cross-border commerce for European companies. Digital Trade Chain will be rebranded […]
XBRL Members and Participants can now register for a Member Forum webinar, which aims to “Bring the needs and knowledge of the XBRL community to the foundations of Blockchain development”. Delivered by XBRL stalwart, Eric Cohen, this talk is designed to let people know what is happening within the new ISO/TC 307 Working Group on […]
Project Jasper has been a year long experiment by the Canadian central bank to investigate whether blockchain, or DLT, could replace existing wholesale payments technology within that country’s financial system. The verdict? Not yet. For the moment, critical issues associated with privacy and scalability mean that the project won’t form the basis of interbank payments […]
The bedrock for much of American and international corporate finance is corporate law in the tiny state of Delaware. Like many other agencies around the world, the state authorities are experimenting with blockchain – in their case through the Delaware Blockchain Initiative (DBI). The initiative will allow for the application of distributed ledger technology to many of […]