Smart ledger: The blockchain-based accounting information recording protocol

Yuqian Zhang, Saeid Pourroostaei Ardakani, Wenqi Han

Research output: Journal PublicationArticlepeer-review

2 Citations (Scopus)


Blockchain technology has the potential to reduce transaction errors and enhance the quality of reporting significantly. This article proposes a conceptual blockchain-based protocol, labelled Smart Ledger, as a replacement for the traditional accounting information recording system. A smart ledger is a computerized algorithm that utilizes blockchain technology to perform accounting ledger functions. Its validity is based on two mechanisms within the blockchain architecture: Fractional Accounting Transactions (FAT) and Hierarchical Accounting Transaction Execution (HATE). As such, the smart ledger is a hybrid protocol that combines accounting information recording principles with the immutability of blockchain technology. If widely implemented, it could have a significant impact on accounting practices and the accounting profession.

Original languageEnglish
Pages (from-to)147-157
Number of pages11
JournalJournal of Corporate Accounting and Finance
Issue number4
Publication statusPublished - Oct 2021


  • accounting information
  • blockchain
  • fractional accounting transaction
  • hierarchical accounting transaction execution
  • smart ledger

ASJC Scopus subject areas

  • Accounting
  • Economics, Econometrics and Finance (all)


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