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New technologies: a brief introduction / Muhammad Hariz Hamid

In recent years, technology has become increasingly diverse and advanced – having significant impacts on society. It has not only ingrained in our daily lives, but also transformed the way we do businesses by introducing new approaches, techniques, and tools. As a result of the emergence of new tech...

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Main Author: Hamid, Muhammad Hariz
Format: Book Section
Language:English
Published: Faculty of Accountancy 2021
Subjects:
Technological change
Technological innovations
Online Access:https://ir.uitm.edu.my/id/eprint/56012/1/56012.pdf
https://ir.uitm.edu.my/id/eprint/56012/
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spelling my.uitm.ir.560122022-12-01T06:22:54Z https://ir.uitm.edu.my/id/eprint/56012/ New technologies: a brief introduction / Muhammad Hariz Hamid Hamid, Muhammad Hariz Technological change Technological innovations In recent years, technology has become increasingly diverse and advanced – having significant impacts on society. It has not only ingrained in our daily lives, but also transformed the way we do businesses by introducing new approaches, techniques, and tools. As a result of the emergence of new technologies, for example, business processes have now become more integrated and streamlined. To have a clear idea of this evolution, the remainder of this article will give us a taste of what these new technologies are all about. One of the most popular emerging technologies today is the blockchain technology. A "blockchain" is a collection of records that are linked together. It is also known as distributed ledger technology (DLT), which involves entering and storing records in a distributed ledger and making them accessible to all relevant parties. This differs from traditional accounting which keeps all records in a centralized ledger, accessible to only accountants and auditors. Each record entered into the blockchain will be encrypted and verified by a large number of computers interconnected via the internet (Huang et al., 2021). Each entry will be automatically timed and stamped, and given a unique hash code. Any modifications to the original records will generate a new hash, with the old hash remaining in other blocks. This means that, if someone wishes to modify an accounting record, he will have to make sure that all chains have the same hash code. Faculty of Accountancy 2021 Book Section PeerReviewed text en https://ir.uitm.edu.my/id/eprint/56012/1/56012.pdf New technologies: a brief introduction / Muhammad Hariz Hamid. (2021) In: Accounting Bulletin. Faculty of Accountancy, Universiti Teknologi MARA (UiTM) Kedah, pp. 13-15. ISBN 2637-0646 (Submitted)
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Technological change
Technological innovations
spellingShingle Technological change
Technological innovations
Hamid, Muhammad Hariz
New technologies: a brief introduction / Muhammad Hariz Hamid
description In recent years, technology has become increasingly diverse and advanced – having significant impacts on society. It has not only ingrained in our daily lives, but also transformed the way we do businesses by introducing new approaches, techniques, and tools. As a result of the emergence of new technologies, for example, business processes have now become more integrated and streamlined. To have a clear idea of this evolution, the remainder of this article will give us a taste of what these new technologies are all about. One of the most popular emerging technologies today is the blockchain technology. A "blockchain" is a collection of records that are linked together. It is also known as distributed ledger technology (DLT), which involves entering and storing records in a distributed ledger and making them accessible to all relevant parties. This differs from traditional accounting which keeps all records in a centralized ledger, accessible to only accountants and auditors. Each record entered into the blockchain will be encrypted and verified by a large number of computers interconnected via the internet (Huang et al., 2021). Each entry will be automatically timed and stamped, and given a unique hash code. Any modifications to the original records will generate a new hash, with the old hash remaining in other blocks. This means that, if someone wishes to modify an accounting record, he will have to make sure that all chains have the same hash code.
format Book Section
author Hamid, Muhammad Hariz
author_facet Hamid, Muhammad Hariz
author_sort Hamid, Muhammad Hariz
title New technologies: a brief introduction / Muhammad Hariz Hamid
title_short New technologies: a brief introduction / Muhammad Hariz Hamid
title_full New technologies: a brief introduction / Muhammad Hariz Hamid
title_fullStr New technologies: a brief introduction / Muhammad Hariz Hamid
title_full_unstemmed New technologies: a brief introduction / Muhammad Hariz Hamid
title_sort new technologies: a brief introduction / muhammad hariz hamid
publisher Faculty of Accountancy
publishDate 2021
url https://ir.uitm.edu.my/id/eprint/56012/1/56012.pdf
https://ir.uitm.edu.my/id/eprint/56012/
_version_ 1751539849725214720
score 13.211869

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