Among the hot research topics, Fintech is leading the trend in terms of the newest technology applications. The relatively new emerging paradigms in various sciences, such as geometry (fractals), physics (quantum), and database systems (distributed ledger—blockchain), seem to potentially contribute to a greater shift in the framework of the finance industry, bringing also some concerns (cyber-threats). Consistent and extensive investigation of the reasonable potential impact of these new models (and their underlying technologies) is performed, and then tested through a SWOT analysis, as the main objective of this research. Threats and opportunities are always intrinsically driven by the introduction of technological advancements (revolutions). This research confirms that information availability and the increasing interconnection of crosswise applications of each discovery to the different fields of science is determining the rapid succession of revolutions identified by evident large shifts in economic paradigms. The growing computing capacity and the development of increasingly powerful predictive software are leading to a competitive, extremely dynamic, and challenging system. In this context, as shown by history, there is a high possibility of market concentration in which, however, only a few corporations—digital giants—can afford to develop these technologies, consolidating their dominance.

Accounting is an integral part of the financial and economic activity of economic entities, regardless of the type of activity and industry in which the enterprise operates. This paper summarizes the arguments and counterarguments in the scientific discussion regarding the nature of accounts in accounting practice. The purpose of the study is to deepen the analysis of European financial accounting practices, in particular in the context of the use of methodological support for the classification of the nature of accounts. Particular emphasis is placed on the evolution of accounting practices: an analysis of the major evolutionary stages that have occurred in different historical periods in accordance with the social needs of society and the economic and financial consequences of such transformational changes. The systematization of literary sources on the subject made it possible to identify three key stages of the evolutionary development of accounting and the essential nature of accounts, in particular: 1) the prerequisites for the emergence of financial and accounting, confirmed by a written accounting record dated 1494; 2) implementation of business continuity accounting based on the use of adjusting records and in-depth study of the nature and nature of accounts; 3) substantiation of the practical implementation of the triple record based on the implementation of blockchain technology. Based on the theoretical studies, the author substantiates the need to use in accounting practice a three-dimensional method of accounting by economic entities, which will more accurately reflect the financial transactions carried out by the company and avoid possible economic mistakes. The study postulates the need to integrate the third book within the accounting system. Summarizing, the author substantiates the need to develop in the future convergent methods of balancing the dual accounting system and maintaining accounts with the third book.

Accounting information systems (AISs), the core module of any enterprise resource planning (ERP) system, are usually designed as centralised systems. Nowadays, the continuous development and applications of blockchain, or more broadly—distributed ledger technology (DLT), can change the architecture, overcome and improve some limitations of centralised systems, most notably security and privacy. An increasing number of authors are suggesting the application of blockchain technologies in management, accounting and ERPs. This paper aims to examine the emerging literature on this field, and an immediate result is that blockchain applications can have significant benefits. The paper’s innovative contribution and considerable objective are to examine if blockchain can be successfully integrated with AIS and ERPs. We find that blockchain can facilitate integration at multiple levels and better serve various purposes as auditing compliance. To demonstrate that, we analyse e-procurement systems and operations using case study research methodology. The findings suggest that DLT, decentralised finance (DeFI), and financial technology (FinTech) applications can facilitate integrating AISs and ERP systems and yield significant benefits for efficiency, productivity and security.

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