The top stories in accounting & finance for the week of April 2nd
It was only a matter of time before a bank would shake the Bitcoin dirt off of blockchain technology and put it to use in something revolutionary. Heralded as an actual, working implementation of the "primary benefits of blockchain-based tools," Coinfirm is working alongside a Polish bank to provide document verification through blockchain technology. This marks the first European bank to make public its use of this technology in its day-to-day operation.
From guarding the ledger against fraud to blocking goals for a professional NHL team, Scott Foster an accountant-slash-recreational hockey player lived his dream—if only for 14 short minutes. That's right. At a recent home game, Chicago's own Blackhawks, in need of an emergency goalie, turned to Foster, who only"a few hours ago [...] was sitting at [a] computer typing on a 10-key." The Blackhawks went on to secure a victory: 6-2.
—New York Times
…and it doesn’t want you to forget anytime soon. Chronicling what’s changed, what’s stayed the same, and what to look out for, the Wall Street Journal takes a look back at the worst economic downturn since the Great Depression. Take a humbling scroll down the page and be sure to note what philosopher George Santayana so eloquently said, "those who cannot learn from history are doomed to repeat it."
—Wall Street Journal
Probably not. The human touch is just one counter-point critics have raised to the news of JPMorgan’s recent embrace of voice-assisted technology. Aside from regulatory restrictions—keeping it from actually completing transactions in specific markets—virtual assistant technology is still far from taking the jobs from Wall Street salespeople. Rote and mundane tasks, however, are just the right thing for this tech to excel at.
AFP’s 2016 ePayment survey reports a chilling discovery: for the first time in the survey’s history, check usage within organizations has (slightly) trended upwards. But is there more behind this than meets the eye? It turns out the study fails to acknowledge one glaring error: a fundamental misunderstanding of what electronic payments actually are.
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