ACCA and Tezos Southeast Asia partnership will help in advancing the usage of Tezos blockchain in Singapore and the entire Asia Pacific region. The deal was inked on April 13th and will explore the benefits of the technology on the accounting industry.
Tezos Southeast Asia(TSA) inked a deal with the Association of Chartered Certified Accountants (ACCA) on April 13th to help in its bid to promote the adoption of Tezos blockchain in the region. The partnership will help advance the blockchain technology usage in accounting processes.
Collaboration between Tezos Southeast Asia and ACCA
In a statement released after the deal was signed, the two organizations said they had entered into a memorandum of understanding and were exploring ways to integrate Tezos blockchain within the accounting industry. Tezos Southeast Asia has been at the forefront of spreading blockchain in the Asia Pacific region.
The president of Tezos Southeast Asia Caleb Kow said the partnership would help in the usage of blockchain technology for accounting which will reduce fraud. He said that blockchain data was hard to manipulate since the process would require operations on a global scale.
Therefore, when integrated into accounting, it will help auditors be able to monitor transactions easily. It will also ensure that the data obtained by these auditors are legit, with no manipulation, verifiable and hence will reflect the actual figures.
Moving seamlessly into the digital economy
The head of ACCA Singapore, Reuter Chua, described the partnership as transformative, highlighting the organization’s realization of the rise in the digital economy. He said as the head of ACCA, he has always been open on new ideas and technologies and as an organization, they are forging ahead with new partnerships that will help them move seamlessly into the digital economy.
He continued by noting that the potential of using blockchain technology in the accounting industry was massive. Blockchain could be used for validation of the accounts process, streamlining compliance processes and automation of process in the industry.
Tezos Southeast Asia is based in Singapore and is responsible for the education and training of Tezos blockchain in the region. They also cooperate with industrial players, providing the technology and exploring ways in which blockchain can be used in those industries.
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