Blockchain Technology and Its Implications in Data Management System: A Empirical Analysis on Corporate Database Management

The financial and accounting sectors are among the areas that have been affected most by blockchain technology (BCT). This study examines how BCT may affect accounting processes in Corporate and their relationship with financial reporting. The research is based on mixed methods design, where qualitative interviews were conducted with Corporate accounting experts while quantitative analysis of financial data was done. To ascertain how BCT has impacted the reliability, transparency and efficacy of financial reporting procedures of Corporate enterprises, this study examined financial reports and conducted interviews. Some of the findings include increased transparency; lowered fraud risks; simplified data reconciliation and auditing process that could be some advantages that BCT can bring into Corporate’s finance reporting system. There are a number of challenges to the widespread adoption of BCT such as concerns about personal information privacy, legal compliance difficulties and need for skilled administrators to manage block chain networks. Aspects like organizational readiness, regulatory climate, comparative benefits over conventional reporting techniques remain critical to understanding why firms in Corporate adopt or reject BCT in their Database management. The outcomes from this study will help for improving financial reporting by governmental agencies, accounting firms etc., so as they can adapt to various issues in digital economy using BCT. Therefore further research is wanted to explore wider implications of blockchain usage for financial statement in both Corporate and overseas as well as its viable long-term impact on finance reporting processes.