Weekly Ledger 28: Top Stories in Accounting and Finance

January 10, 2017 Ralph Perdomo

See what's trending this week 

Go Beyond Accounting Without Being an ExpertAccountingWeb

Accounting firms are doing more than just crunching numbers. That's the takeaway from Julian Coleman's (@JulianwithGusto) article for AccountingWeb. The driver for this, Coleman says: benefits. “2 out of 3 small businesses find it difficult to navigate health benefits, leaving the door wide open for support." And accounting firms can deliver more with less. “In the era of cloud accounting, where tasks are automated and time-savings are built-in, it's simple to add on services to your client's billables without having to hire additional staff."

 

The Digital Wallet is Set to Exceed Debit & Credit Card Payments – How FinTech is Disrupting the Banking IndustryTechBullion

Pant pockets will soon become emptier as digital wallets become commonplace—but there are some reasons to keep stuffing your pockets. Angela Scott-Briggs of TechBullion lists the pros and cons of the upcoming revolution. Citing portability, ease of use, and security as the drivers for digital wallet adoption, Scott-Briggs lists the benefits of contactless payments in the wallet. Additionally, Scott-Briggs lists the factors keeping digital wallets from prying purse strings open: consumer resistance, international immobility, and lack of merchant support.

 

Blockchain Technology is on its Way to Becoming a Universal Supply Chain Operating SystemThe Boss Magazine

Supply chain, meet blockchain. Pooja Thakkar of The Boss Magazine explains blockchain technology and how it's set to disrupt the entire supply chain. “Blockchain is like a vast open-permissioned-interactive spreadsheet that everyone can access and update, but can't change or delete," Thakkar begins. “In other words, the technology is owned and monitored by everyone, but controlled by no one." And with that, Thakkar goes on to list the many benefits blockchain will usher into supply chains: enhanced security, greater transparency, better scalability, speedy transactions, reduced costs, and innovation. It's a win-win for everyone involved.

 

Using the Blockchain to Trade Gold, via a 1,000-Year-Old InstitutionThe Wall Street Journal

It turns out you can teach an old dog new tricks. Alexander Osipovich (@aosipovich) of The Wall Street Journal reports on a 1,000-year-old British company and how its upcoming gold-trading platform will run on blockchain technology. Ostensibly, buyers and sellers on the marketplace “will be able to convert the digital certificates to physical gold," Osipovic reports. “Similar to the way Americans were able to convert U.S. dollars to gold until 1933, when the federal government abandoned the gold standard."

 

7,500 Faceless Coders Paid in Bitcoin Built a Hedge Fund's BrainWired Magazine

'Give a thousand monkeys a typewriter,' the infinite monkey theorem begins, 'and soon they'll produce a masterpiece.' Cade Metz (@CadeMetz) of Wired reports how one company is testing that theorem with coders and hedge funds. Numerai, a hedge fund in San Francisco, is working with several thousand anonymous data scientists and artificial intelligence to know exactly which stocks to buy and sell. Although Numerai can't disclose how successful its hedging has been (government regulations won't allow this) CEO Richard Craib did boast a recent $6 million in funding.

 

About the Author

Ralph Perdomo

Ralph is a Research Analyst at Nvoicepay. He's passionate about marketing technology and creating engaging content that delivers value to the consumer.

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