Foreword and Introductory Information

There has been a large amount written and spoken about artificial intelligence, blockchain technology, and the implications that these technology tools will have on the accounting profession in both the near and long term. Even since the publication of the first edition of this book in 2020, the cryptoasset marketplace and blockchain adoption have continued to evolve at a breakneck pace. In addition, the entire field and conversation around artificial intelligence—nascent at beset in 2020—has become a recurring topic on earning calls across industry lines. Some might speculate that AI has replaced the excitement that once dominated the blockchain and cryptoasset space that could not be furthered from the case. Bitcoin, even in the aftermath of the scandal, collapse, and fraud at FTX, has traded at new all-time highs in 2024, buoyed by the long-awaited approval of spot Bitcoin ETFs. Additionally, and something that will be expanded upon in further chapters, the institutional adoption and onboarding of cryptoassets continue to accelerate.