My own thoughts on a discovery of what may have a huge impact
http://blog4bitcoin.club/bitcoin-triple-entry-accounting-collateralized-wages/An excerpt -
In his Feb. 10, 2014 Bitcoin Magazine article titled Triple Entry Bookkeeping With Bitcoin , Jason M. Tyra explains Bitcoin's potential effects to the accounting profession. In the article he writes
"Double entry bookkeeping revolutionized the field of financial accounting during the Renaissance period. Whereas simple ledgers had long been the standard for record keeping for merchants, the church and state treasuries, the growth of long distance trade and creation of the first joint stock companies resulted in firms whose records were too voluminous and complicated to provide any assurance of accuracy to their users….The double entry system solved the problem of managers knowing whether they could trust their own books."
Double entry accounting changed human history. It essentially enabled the employer-employee relationships to develop and, without them, companies such as Ford, IBM or Google would not be possible. The key benefit was that double entry accounting enabled bookkeeping practices to be used to help make sure the parties to the employment contracts were remaining honest.
