Adoption of Blockchain Technology in Accounting Practices – a Practitioner’s Perspective

Blockchain technology has the potential to transform accounting by increasing transparency, security, and operational efficiency in financial reporting and audits. This study examines blockchain adoption from a practitioner’s viewpoint, evaluating the challenges, feasibility, and strategic impact on accounting professionals. Employing a mixed-methods approach, it integrates quantitative survey data with qualitative insights from industry experts to assess major adoption barriers, such as regulatory ambiguity, technological complexity, implementation costs, and resistance to change. The findings suggest that blockchain preparedness and governance are crucial in driving adoption, while awareness and feasibility act as secondary influences. The study highlights the importance of industry collaboration, regulatory alignment, and specialized training programs to facilitate blockchain’s seamless integration into accounting systems. Addressing these challenges can help firms leverage blockchain’s advantages in financial accountability, fraud prevention, and audit effectiveness, shaping the future of accounting practices.