Digital Financial Reporting

'NFT' is Collins Dictionary's word of the year for 2021.  If you don't understand what an NFT is, I explained that in a blog post.

Here is a list of the top NFTs today. Personally, I don't think that is a very inspired use of NFTs.  In my view Auditchain has a much better use case for NFTs.  In the blog post, Auditchain To Use NFTs for Accounting and Disclosure Controls, Auditchain "announced a new NFT creation platform that will allocate royalties between curators and validators of global standard logic-based accounting and disclosure control components".

I hope to get all these accounting rules converted into NFTs.

As was pointed out in the book, The Great Upheaval, by Arthur Levine and Scott J. Van Pelt; the United States is hurling from a national, analog, industrial economy to a global, digital, knowledge economy.

NFTs are a tool of the knowledge economy. Accountants work with knowledge.  They express financial information in the form of knowledge graphs. NFTs will help describe knowledge graphs, create those knowledge graphs, verifiy that the knowledge graphs have been created correctly, and extract information from those knowledge graphs.

Better improve your digital IQ if you don't see this.