Tezos Suotheast Asia (TSA) and the Association of Chartered Certified Accountants (ACCA) will be looking to simplify accounting processes by automating certain aspects of accounting on the Tezos blockchain. We have seen this type of application to be successfull before: the Cybercrime Unit of the French Military Police has done the same for some time now and found that the switch from accounting on traditional databases to blockchain, has not only simplified accounting, it also drastically reduced costs. Where they previously had to add 40.- EUR for administration costs, these costs are now reduced to a few cents.
This idea now spread to Asia, where the TSA has sparked the interest of the ACCA to explore similar options.
"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.
We are thrilled to work with Tezos Southeast Asia to explore the potential of the blockchain technology that is applicable in the accounting environment that will enhance our members’ workflows and better prepare them in this challenging environment.” - Reuter Chua, Head of ACCA Singapore