Paypie could become a major actor of the accounting world because they are the first one to have think to decentralized accounting. It will prevent fraud but even for the legal companies it will help them to proove what they have and it will also be a gain of time.
This is not exactly decentralized accounting, because someone will enter information there. And the main thing is that initially the information was correct. On the other hand, the financial condition of organizations is not constant, and the information must correspond to reality. That is, decisions can not be made on the basis of outdated information.
Is decentralized in the sense that the ledger and information will be in the blockchain, and nobody will tamper it, so nobody has a central authority over it, not even PayPie, someone will enter information yes, but it will be made by each company that has n account in paypai, and all the date is from them, is like you put information in your own account, so you controlled it, and even if it is false information, the blockchain already recorded it and cant be deleted, so once people see it, immediately will it be known that is false, so you dismiss it.
The organization can provide false information, so Paypie must conduct an independent audit before something is written down in the blockchain. By launching its platform, Paypie is responsible for the reliability and relevance of information for assessing the financial condition of organizations. After all, the risk assessment will be based on this information. But the organizations that provide information are not responsible. Therefore, I have long asked how they will receive reliable information. Will there be a bunch of scammers with false financial statements, just to get a loan. Paypie must check them all, otherwise the whole business will collapse. The blockchain is not a universal protection against fraud. First, absolutely correct information must be recorded there.
