Transforming Financial Reporting Practices in Bangladesh : The Benefits and Challenges of Implementing Blockchain Technology

This study examines how Bangladesh's financial reports could benefit from implementing Blockchain Technology (BCT). First, this article introduces BCT, discussing its benefits and potential applications in financial reporting. Next, the barriers to adoption in Bangladesh are also discussed, such as a lack of knowledge and education among stakeholders and difficulties with regulation and implementation. Finally, the article concludes with case studies of companies in Bangladesh using BCT for financial reporting and recommendations for stakeholders to overcome adoption challenges and leverage the benefits of the technology. Overall, the article argues that adopting BCT can transform financial reporting practices in Bangladesh, leading to increased transparency, accountability, and efficiency