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President’s Page he wild swings of Blockchain and other cryptocurrencies dominate the business world today. Blockchain promises to be a disruptive technology for the accounting and auditing professions. TBlockchain technology has the potential to shapeshift the work of accountants mainly those focused on transactional tasks. It has the capability to increase the efficiency of the process of accounting for transactions and assets, functioning as a system of universal entry bookkeeping. Blockchain certainly has to resolve some legal and technological challenges before it can be completely incorporated into the financial record-keeping systems of the world. However, the accounting profession with its distinctive business and technical expertise is well-positioned to support blockchain with these struggles. Professional accountants should consider diversifying into areas that are more creative, because blockchain will make the audit process streamlined, fast, and automated. Accountants’ mix of business and financial intellect can add more value by delivering strategic advice than by undertaking basic bookkeeping functions and the advent of blockchain technology should expedite firms’ transformation away from these tasks. Blockchain technology is already disrupting the accounting profession and will continue to do so. Understanding the implications and possibilities of this technology on the profession is essential for practitioners seeking to keep up to date and relevant in a rapidly changing marketplace. Blockchain is an accounting technology that will provide future prospects and professional accountants have both the mindset and opportunities to take advantage of them and elevate accounting to the role of strategic business partner. Riaz A. Rehman Chamdia, FCA January - March 2018 The Pakistan Accountant 5