In early 2009, the world changed irrevocably when a pseudonymous programmer known by the handle Satoshi Nakamoto turned on software which powered the Bitcoin network.  Suddenly, kings and central banks no longer held a monopoly on the issuance of money.  A longstanding problem in computer science known as the Byzantine General’s problem finally had a working solution, and a mechanism to create decentralized trust between untrusted parties had been proven.

The technology  which made this new trust possible, the blockchain, offers a new way to generate consensus about the accuracy of account balances.  The blockchain represents an innovation on  the traditional ways businesses report and validate financial results: financial accounting, audit, and assurance services.

As a licensed CPA in the District of Columbia and the Commonwealth of Virginia, I am fascinated by the potential for Bitcoin and the blockchain to disrupt the traditional financial and accounting industries. What business will hire an auditor to provide assurance about the accuracy of its financial statements in a world when all businesses publish financial information online in real time and guarantee its accuracy with the inviolability of math?  How will the accounting profession, and the business world at large, adapt to new methods of transmitting value across the world as easily and cheaply as the transmission of an email?  This future may not be likely or even desirable, but I am interested in exploring and embracing the what Bitcoin may bring.

BlakeChain was born in 2014 out of this motivation, and it serves as my hub for interesting news and ideas from Bitcoin and other cryptocurrencies, the blockchain and related technologies. I filter everything through the green tint of my accountant’s visor, and BlakeChain is my outlet for musing on cryptocurrency through the lens of a CPA.

Take a look around, and if you have feedback or an interesting idea to discuss, leave a comment or get in touch.  If you want to tip a few bits, I have a ChangeTip account at blakechain.tip.me. Thanks for taking the time to stop by!