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Modern advances in technology have increased the demand for traditional accounting systems to be upgraded for real-time data processing, security, and standardized reports. Thus, this paper proposes a new accounting information system that integrates IoT, blockchain, and XBRL. The proposed system aims to automate the accounting process by using IoT to collect data and send it automatically to a blockchain, which acts as a database that will generate journal entries automatically through smart contracts. XBRL will then be used as an output method for standardized financial reports based on the data transferred from the blockchain. This paper uses a qualitative research design based on semi-structured interviews with 13 industry experts from IT engineering, academia, and financial systems analysis. NVivo software was used to conduct a thematic analysis of interview transcripts. The findings demonstrated that integrating IoT, blockchain, and XBRL is technically feasible, with significant potential to enhance accounting systems. Additionally, the findings identified key challenges of the proposed system, including the complexity of integration, data validation across technologies, costs, user adoption, and scalability concerns. However, the results showed that this system offers substantial benefits, such as real-time data capture from IoT devices, secure data storage and immutability through blockchain, standardized financial reporting via XBRL, accounting process automation, improved data accuracy, and enhanced security and transparency in financial reporting. The study also identified an optimal mechanism for ensuring seamless data transmission between these technologies. The study makes a valuable contribution to the accounting field by providing a new framework for automating data collection, enhancing data security, and streamlining financial reporting, with significant potential to advance accounting systems and improve transparency, accuracy, and efficiency in financial reporting. The study's potential to impact accounting systems and financial reporting research and practice emphasizes its importance. [ABSTRACT FROM AUTHOR]

Over the last few decades, remarkable technical advancements, including artificial intelligence, machine learning, big data, blockchain, cloud computing, and the Internet of Things, have emerged. These tools have the ability to change the accounting process. This study aims to conduct a systematic literature review on using the Internet of Things (IoT), blockchain, and eXtensible Business Reporting Language (XBRL) in a single accounting information system (AIS) to enhance the quality of digital financial reports. This paper employs a systematic literature review (SLR) methodology, specifically, by adopting the widely accepted PRISMA technique. The final sample of this study included 309 related studies from 2013 to 2023. Our findings highlight the lack of literature related to the integration of these three types of technologies within a unified AIS. This study is extremely significant because it proposes a new research stream that explores the possibility of integrating IoT, blockchain, and XBRL in a single accounting system, yielding a plethora of benefits to the accounting field. However, the potential benefits of such an integration are evident, including enhanced transparency, real-time reporting capabilities, and improved data security. Our paper's main contribution is that it is the first paper, to the best of our knowledge, to explore the integration of these three technologies. We also identified important gaps in the research and pointed out ways for future research to somehow take a lead in exploring further how this integrated system is affecting accounting practices. [ABSTRACT FROM AUTHOR]

In recent years, circulation of fake products has devastated the product manufacturing industries. This has an impact on the companies' brand, revenue, and profitability. Blockchain technology is used to identify genuine goods and identify counterfeit goods. This has huge use case in pharmaceutical, electronic and high value deliverables industry. It would be great application for diminishing the fake product flow in market. Blockchain technology is a distributed, decentralized digital ledger that keeps track of transactions in a number of databases in the form of blocks that are related to chains. No block can be changed or hacked because blockchain technology is secure. Customers or consumers can certify the safety of a product without relying on third parties thanks to blockchain technology. Using new technological advancements, Quick Response (QR) codes offer a powerful method in this project to combat the practice of manufacturing phony goods. Integrity of products can be maintained by integrating blockchain technology using QR codes. This system will store the authentic product details and unique codes as blocks. System collects the unique codes using QR codes and matches those codes to entries in the Blockchain database. If the code from QR matches to the codes in the databases the user will be prompted as it is a legitimate product, or else it will alert the user as product is fake. [ABSTRACT FROM AUTHOR]

The growing interest in blockchain technology has gained a lot of attention in Supply Chain Management (SCM) and sparked the quest for decentralized, scalable, efficient and trustworthy consensus schemes. Traditional blockchains rely on computationally expensive consensus mechanisms with low throughput and high latency. This paper conducts a performance evaluation of several existing consensus protocols to illustrate blockchain's shortcomings in terms of consensus and propose a new consensus algorithm: Reputation based proof of cooperation (RPoC). The RPoC algorithm uses a layered architecture to segment the nodes that participate in the consensus phase in order to improve scalability and efficiency while maintaining trust among peers. The layered design addresses the issues of flexibility and scalability and breaks down the extensive mining process into segments. Rather than choosing a few nodes for mining, the proposed consensus process involves all network nodes, making it more efficient, decentralized and scalable. Through extensive theoretical analysis and experimentation, the suitability of the proposed algorithm is established in terms of scalability and efficiency. [ABSTRACT FROM AUTHOR]

Currently, the furious competitiveness in global markets and speedy improvements in information technology lead to shorter product life cycles, lesser transportation capabilities, and increased demands as well. In most business scenarios, the supply chain network is becoming one of the most vital focusing areas. In the supply chain network, blockchain technology is a promising solution for secure information sharing. However, it is a bit critical in maintaining security at each level of the blockchain and hence the public–private–key cryptography is more commonly preferred. This study intends to construct a new privacy preservation model in the field of supply chain networks based on blockchain technology by undergoing three major phases, namely, (a) data sanitization, (b) key generation, and (c) restoration. Further, the sensitive fields in the original data are selected during the data sanitization phase, and in the key generation phase; the optimal key is generated to hide the selected sensitive fields. The hidden data with the secured key is transferred from the source (manufacturer) to destination (vendor) in the supply chain network via the blockchain. The restoration process takes place in the receiver side with the help of the same key. Among all these data flow methods, the optimal key selection is the critical issue that needs to be overridden to make the data transmission secured. As a novelty, a new optimization algorithm referred to as Whale with New Crosspoint‐based Update (WNU), which is the advanced version of Whale Optimization Algorithm (WOA), is developed here to select the optimal key. Finally, the proposed WNU model is analyzed in terms of Hiding Failure (HF) rate, Information Preservation (IP) Rate, and False Rule generation (FR), and Degree of Modification (DM). The proposed secured information sharing in supply chain management (SCM) with blockchain technology will be validated by comparing it over the traditional models in terms of security as well. [ABSTRACT FROM AUTHOR]