Will the visibility of a blockchain render accountants useless?

[jasondarosa]

Accountants exist because money queues up and we have to know how money moves from point A to point B and tax appropriately based on an arbitrary set of If-then statements. A

With the existence of the blockchain, will accountants be useless, because then we can codify taxes and transactions?

I'm a newb. Thanks for taking a look.

[guybrushthreepwood]

Accountants exist because money queues up and we have to know how money moves from point A to point B and tax appropriately based on an arbitrary set of If-then statements. A

With the existence of the blockchain, will accountants be useless, because then we can codify taxes and transactions?

I'm a newb. Thanks for taking a look.

Not really. People will still need others to help them look after their money. It's not as simple as just having all the transactions written down.

[DebitMe]

Accountants exist because money queues up and we have to know how money moves from point A to point B and tax appropriately based on an arbitrary set of If-then statements. A

With the existence of the blockchain, will accountants be useless, because then we can codify taxes and transactions?

I'm a newb. Thanks for taking a look.

tax is not an arbitrary set of If-Then statements either.  There is also a lot of professional opinion thrown in.  An example would be there is no real definition of what income is in the tax code.  It specifies what is not income, but no where does it state what is the definition of income.

[NicholasB54]

Accountants exist because money queues up and we have to know how money moves from point A to point B and tax appropriately based on an arbitrary set of If-then statements. A

With the existence of the blockchain, will accountants be useless, because then we can codify taxes and transactions?

I'm a newb. Thanks for taking a look.

An interesting thought, they didn't die out when book-keeping software arrived on PCs a couple of decades back and allowed easy preparation of Profit & Loss reports and balance sheets so I suspect the answer is No

Your premise for why they exist is wrong, and people who build businesses seem to hate doing the books

As already stated above interpreting tax law is their role too - and explaining it to others within the business

[MR2]

Sure do we hate doing books .. investing time, that someone else gets money - that's what it is. Hands up for a per-head-discount tax! ;-)

whatever. In Spain you can do your yearly report automatically based on the transactions of your bank account - technically. They want to force you using your bank account, so they can see if you pay all your taxes :-)

[Elchimpos]

ridiculous.

the transparency of the blockchain willl just mean greater visability of end to end transactions.  Not much help with a shared send or if they flow into Bitfog or a blackmarket tumbler.

You are always going to need someone to do your tax, prepare your finanacial statements and do financial reporting along with all the other mundane crap that accountants do.

Spoken from experience.