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Author Topic: Accounting Firms celebrating blockchain as if they invented it!  (Read 102 times)
HabBear
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June 06, 2018, 03:57:37 PM
 #1

I keep coming across commentary from major accounting and consulting firms celebrating blockchain and distributed ledger technology as if they invented it!

Here's one such example from EY: How are you using blockchain to reimagine your industry?

According to EY, blockchain technology has already transformed the way the financial services sector operates. REALLY?

Quote from: EY Advisory Services
In less than a decade, distributed ledger technology (DLT), most notably blockchain, has transformed the way the financial services (FS) sector thinks about payments transactions, and the resulting knowledge is being applied to many other proof-of-concept projects.

While these firms will claim to be the "thought leaders" of the industry and never make reference to the person who created blockhcain, the benefit of their bravado will be the money they can dump into research studies which will better inform us all on how blockchain can and will be used around globe.

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June 06, 2018, 04:05:58 PM
 #2

At least these accounting firms recognize the importance of the blockchain tech and acknowledge it publicly rather than criticize it like some Wall Street self acclaimed experts would. It's a good one that the crypto industry is still having thumbs up. Otherwise, the ever emanating FUD from the media and public will be doing more harm to cryptocurrency.


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lizardbtc
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June 06, 2018, 04:19:53 PM
 #3

The thing that they are trying to do is to eliminate the origin of blockchain technology and for what it was mainly made to be used for. Thats why you will hear many people talking about the great blockchain and say this is blockchain, crypto is something else. So from it being the tech mainly for open protocols and systems and decentralized architecture they are trying to move it towards the private and centralized systems. Of course this can work since they are used to having everything centralized along themselves because then they have the power. But as decentrlaized projects with many ICOs are building open systems slowly we will take them down.

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June 06, 2018, 04:43:40 PM
 #4

That's the beauty and curse of an open-source programs: anyone can make revisions of it and later copyright it and call it theirs. With blockchain it's no different. These guys can use the tech as long as they wish since no one copyrighted the tech in the first place, it was only embedded within bitcoin's protocol. At the very least, these guys found out that there's still improvement to their insecure systems which they once thought as cutting-edge tech. Banking and finance sector is a hot bed for hackers, so it sounds about right that these guys improve their way of handling things.

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June 06, 2018, 05:22:04 PM
 #5

IBM does similar to promote their blockchain services. For the reasons mentioned above, no copyright, no patent... You can freely clone and modify an open source project and claim to created THE new tech (when it's fact the only new tech is Your tech not the base you used)
It can also be compared with internet and Arpanet

HabBear
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June 06, 2018, 07:01:52 PM
 #6

That's the beauty and curse of an open-source programs: anyone can make revisions of it and later copyright it and call it theirs. With blockchain it's no different.

IBM does similar to promote their blockchain services. For the reasons mentioned above, no copyright, no patent...

Well, these comments give me peace. I'm newer (than most) to the world of open source.

So these attitudes and actions are an expected eventuality of the gift Satoshi gave to us all. I still cringe at the thought of Satoshi becoming the answer of a trivia question 10 years from now on "who created the blockchain?"

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June 06, 2018, 07:52:00 PM
 #7

That's the beauty and curse of an open-source programs: anyone can make revisions of it and later copyright it and call it theirs. With blockchain it's no different.

IBM does similar to promote their blockchain services. For the reasons mentioned above, no copyright, no patent...

Well, these comments give me peace. I'm newer (than most) to the world of open source.

So these attitudes and actions are an expected eventuality of the gift Satoshi gave to us all. I still cringe at the thought of Satoshi becoming the answer of a trivia question 10 years from now on "who created the blockchain?"

In a near future, the companies will surely give it another name like HSBC Technology, HSCBCchain etc. You will see the term blockchain used in small size like in the ingredients list on the food package

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June 06, 2018, 08:52:51 PM
 #8

This is really a good one, it means blockchain technology and cryptocurrency are taking over the world. The accounting firm knows the power and importance of the blockchain and how it can boost the accounting sector. Kudos to them for doing this openly, very soon, every sector will realize the blockchain advantages and will start adopting it.

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June 06, 2018, 09:38:53 PM
 #9

Not only accounting firms but other sectors like insurance, gaming,real estates and health&medicine are all celebrating the impact of block chain into their practice
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June 07, 2018, 10:29:28 AM
 #10

that is not trouble, because terrorists use only real money or drugs to pay for the guns and others details, they use only illegal ways to do it

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June 07, 2018, 10:48:13 AM
 #11

That's the beauty and curse of an open-source programs: anyone can make revisions of it and later copyright it and call it theirs. With blockchain it's no different.

IBM does similar to promote their blockchain services. For the reasons mentioned above, no copyright, no patent...

Well, these comments give me peace. I'm newer (than most) to the world of open source.

So these attitudes and actions are an expected eventuality of the gift Satoshi gave to us all. I still cringe at the thought of Satoshi becoming the answer of a trivia question 10 years from now on "who created the blockchain?"

Might be people in academics will remember satoshi. If you think masses will remember him than you are wrong. In today world people knows only billionaires. No body knows who was Dennis Ritchie. But everybody know who was Steve jobs.
In my mind I have no confusion whose contributions are more worth to the society. 
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June 07, 2018, 10:52:18 AM
 #12

Thats great news, if the blockchain technology supported by Accounting Firms can help promote the ideas on how this kind of advance technology running the global market so as the cryptocurrency will rise its coins value which is the BITCOIN BTC and etc.
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June 07, 2018, 10:54:50 AM
 #13

Blockchain technology will impact the accounting industry. The technology it brings will make accounting easier. This is why the accounting industry will need to understand the blockchain. This is also an example of a combination of blockchain and reality.
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June 07, 2018, 11:05:17 AM
 #14

we all know that the blockchain technology is currently hyped up a lot and all these crappy ICOs that raise millions of dollars out of nowhere without even being legit is a proof of that. so everyone who sees this wants a piece of the hype for themselves including all these firms that get involved with the technology one way or another, not that they are doing any useful but they surely know how to abuse the current ongoing hype and lots of gullible newbies in the market.

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June 07, 2018, 12:15:13 PM
 #15

Let them celebrate, but in this way there will be many people in the accounting department who have to lose their jobs. Because if the blockchain technology has been implemented then this means the accounting party will save human resources.
And I think technology is not always good for life, for example on the use of gadgets.
When people use gadgets, they tend to forget how they do daily work manually.
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June 07, 2018, 02:40:45 PM
 #16

we all know that the blockchain technology is currently hyped up a lot and all these crappy ICOs that raise millions of dollars out of nowhere without even being legit is a proof of that. so everyone who sees this wants a piece of the hype for themselves including all these firms that get involved with the technology one way or another, not that they are doing any useful but they surely know how to abuse the current ongoing hype and lots of gullible newbies in the market.
I disagree. Without considering the cryptos world the blockchain technology is popular in the fintech and IT industry. The big companies and mainstream media are the ones to hype the blockchain tech. and these companies are spending a lot of money to market the technology and their related products. But the majority of people interested in don't know what is an ICO. It's a totally different audience than the cryptos community

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June 12, 2018, 08:02:16 AM
 #17

Accounting people are enjoying about this mater this is really good news based on them our economy is running also because they are known as money doctor also they are also concern about block chain system which make them easy for doing their stuffs. So I don’t think they are doing anything wrong.
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July 11, 2018, 04:43:06 AM
 #18

At the very least, these accounting firms accept the benefits of bitcoin, unlike Wall Street's "experts," who always criticize negative aspects that negate other aspects.
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July 11, 2018, 05:18:52 AM
 #19

Well, there's still a positive impact about this one to the crypto and blockchain technologies as it will be more respected by how they celebrate it.
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July 11, 2018, 05:26:40 AM
 #20

They will never give credit to the creator of this technology, because they know Satoshi's intention for this technology was to disrupt them. They just saw the opportunity to "steal" the concept and now even the "brag" rights to this technological breakthrough.

We should call these stolen Blockchain technologies, "Pirate Blockchains"... A bunch of thieves, the lot of them.  Angry
 

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