Blockchain technology reshapes traditional asset verification
Digital assets aren't just about crypto.
On the Earmark Podcast, I talked with Noah D. Buxton from The Network Firm about how blockchain technology is starting to impact traditional assets like real estate and commodities.
This creates a huge opportunity for CPAs. After all, someone needs to verify these assets actually exist - and we saw what happens when nobody does proper verification (looking at you, FTX).
Noah walked me through how "proof of reserves" reports work right now. Honestly, they're still pretty limited, but it's a start.
We also got into how blockchain could actually make asset ownership verification more reliable - which, let's face it, would be a big improvement over our current system.
Most accounting firms are completely unprepared for this shift. If you're interested in getting ahead of the curve, check out Episode 84 of the Earmark Podcast "How CPAs Are Securing the Future of Digital Assets"