The Rise of Blockchain and Cryptocurrency

The Rise of Blockchain and Cryptocurrency The Rise of Blockchain and Cryptocurrency FINANCE OF THE FUTURE THE RISE OF BLOCKCHAIN AND CRYPTOCURRENCY HOW COMMON DO YOU THINK CRYPTOCURRENCY WILL BECOME FOR BUSINESS TRANSACTIONS IN THE NEXT FIVE YEARS? 13% Not common at all 18% Very common 37% Not very common 32% Somewhat common BY COMPANY SIZE: 20-49 50-99 employees 100-249 employees 250-499 employees 500-999 employees 1,000+ employees Very common 14% 23% 21% 37% 45% 32% Somewhat common 28% 37% 44% 38% 38% 36% Not very common 42% 30% 31% 17% 16% 27% Not at all common 17% 10% 4% 8% 2% 6% Responses may not total 100 percent due to rounding. HOW DO YOU THINK THE RISE OF CRYPTOCURRENCY AND BLOCKCHAIN TECHNOLOGY WILL AFFECT ACCOUNTING AND FINANCE DEPARTMENTS? 36% Staff will need to expand skill sets to adapt for new accounting and finance technologies 34% It will increase the need for specialized accounting (e.g., tax and forensic accounting) 30% There will be more cross-departmental collaboration with IT 29% It won’t impact accounting and finance until it becomes government-regulated 9% No impact at all 1% Other Multiple responses permitted