Tezos TSA, ACCA Sign Pact to Test Blockchain in Accounting Industry

Tezos SA, ACCA Sign Pact to Test Blockchain in Accounting Industry

Tezos South East Asia, a non-profit organization dedicated to promoting the region’s adoption of the Tezos blockchain, announced that it has inked a deal with The Association of Chartered Certified Accountants (ACCA).

The partnership between the ACCA and TSA will explore Tezos blockchain’s applications in the accounting industry according to a press release. The ACCA is a major global accounting organisation, providing accountants with certifications and training.

A Win-Win Relationship

ACCA will assist TSA by sharing its knowledge of accounting standards with the company. Conversely, the TSA will assist the ACCA to explore and implement blockchain technology applications in the accounting sphere in order to free it from various weaknesses.

The TSA and ACCA will, as a next step, develop educational materials, training courses, and partnership programs to help people gain a better understanding of the technology and further promote blockchain adoption. ACCA Singapore’s chief Reuter Chua said:

“The potential applications of blockchain technology in the accounting sector are extensive, ranging from better validation procedures in auditing to accelerating settlement times for transactions, and automating and streamlining compliance processes.”

Both blockchain and crypto progress rapidly in the accounting industry. News earlier reported about the fifth-large U.S. accounting firm RSM’s partnership with blockchain-native software and tax services company, Lukka. The blockchain company will provide crypto-tax software to RSM for individuals and businesses alike.

Despite becoming more commonplace in some industries, Big Four accounting firm Deloitte and the World Economic Forum recently stated in a joint whitepaper that blockchain still lacks the interoperability necessary for mainstream corporate use.

Cryptolydian reported earlier that, Kathleen Breitman, co-founder of Tezos, announced last month launching the Emergents card game, which is the first product introduced by blockchain company Coase.

The Emergents announcement stated that it would be based on Tezos blockchain. However, the co-founder indicated that the game could be launched on another blockchain, according to Crypto News Flash website.

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Abdulhay Mahmoud 414 Articles
Abdulhay Mahmoud is a creative writer with over 15 years of experience in journalism, translation, and investor relations. He has B.A in English and Literature from a reputable University. He recently became a contributor at Cryptolydian.com to fulfill his thirst in reporting digital coins and blockchain-related news, an interest was built over the years.