Masters Degrees (School of Accountancy)

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Browsing Masters Degrees (School of Accountancy) by Subject "Assets (Accounting)"

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    Blockchain technology : addressing the risk of digital assets exchange
    (Stellenbosch : Stellenbosch University, 2018-03) Thomas, Mari; Goosen, Riana; Stellenbosch University. Faculty of Economic and Management Sciences. School of Accountancy.
    ENGLISH SUMMARY : Blockchain technology is a complicated and emerging technology affecting the way business is performed. Blockchain is a decentralised transaction and data management technology which was first introduced through the Bitcoin cryptocurrency. Ever since the introduction of Bitcoin in 2008, interest in the blockchain technology has grown significantly. This is mainly due to the fact that this technology has the ability to eliminate the role of trusted third parties with regards to security, anonymity and data integrity aspects. The purpose of this study was to provide a matrix which can be used as a quick reference to indicate the various blockchain characteristics and how they address identified risks with the exchange of digital assets and subsequently assist in achieving the control objectives of a business. Furthermore, additional risks were identified which potential users need to take into consideration before implementing the blockchain technology. The matrix was developed by first identifying the significant inherent risks of digital asset exchange, namely trust, repudiation, double-spending and theft, including fraud. An understanding of how the blockchain technology works was obtained through performing a detailed literature review, from which the key characteristics of the blockchain technology was identified. This was utilised to provide a matrix for potential users on how a specific blockchain characteristic has the ability to address the identified significant risks of digital asset exchange and to achieve the control objectives of a business. Additional risks were derived from the matrix and further literature work carried out to identify the additional risks which needs to be considered before the implementation of the blockchain technology. By utilising the matrix provided, various industries will be able to evaluate whether the blockchain technology will assist them in addressing their specific risks and achieving their control objectives.