We use the transaction cost theory, originally proposed by Coase (1937), as a theoretical framework to examine the potential impact of the blockchain technology on accounting and auditing processes in terms of information timeliness, information quality, and auditing costs. Since a blockchain...

Background: In recent years, blockchain technology has attracted considerable attention. It records cryptographic transactions in a public ledger that is difficult to alter and compromise because of the distributed consensus. As a result, blockchain is believed to resist fraud and hacking....