This paper reviews the concept that a blockchain is simply a database without a central authority. This concept means that a blockchain-based application is inherently a database application that leverages on the strength blockchain has over a traditional database with central authority. Two...

There is yet any official guidance on the financial reporting of Bitcoin transaction from the standard setters as the crypto-currency become increasingly popular and tax accounting guidance begin to appear in 2014. Designed as a decentralized currency, Bitcoin will not become a reporting...