In December 2005, Ian Grigg, a pioneer in financial cryptography and inventor of the ricardian contract, wrote the paper Triple Entry Accounting (https://lnkd.in/gcQttzB) describing an enhancement to the traditional double-entry system in which all accounting entries involving outside parties are cryptographically sealed by a third entry.

Does that sound now familiar? In December 2008 Bitcoin whitepaper appeared and offered a simple and yet elegant solution to the triple entry accounting by using a distributed ledger in which every transaction is digitally signed by the issuer and validated by every node in a decentralized network.
#blockchain #bitcoin

https://lnkd.in/gSt-run # https://www.linkedin.com/posts/alvarosuarezbravo_bitcoin-an-accounting-revolution-activity-6569849873200484353-A0Fj