Business
In his paper on Triple Entry Accounting (TEA), Torje Sunde delved into how connecting fashionable accounting ledgers to a public blockchain would make auditing easily verifiable. In an interview with CoinGeek Backstage in Malta, he discussed how the paper impacts auditing and curbs fraud.
Sunde was one of the presenters at the inaugural Triple Entry Accounting Conference in November 2023. Held in Malta, the match was an initiative of industry titan Ian Grigg and brought together accounting professionals, tech gurus, blockchain experts, and extra to speak about the intersection of accounting and public blockchain.
Sunde’s paper, authored alongside Dr. Craig Wright, is titled “Imposing Triple Entry Accounting as an Audit Software—An Extension to Contemporary Accounting Systems.”
“One of the foremost targets of the paper is to attract folks from varied disciplines: accountants, developers, experts in mathematics and cryptography. We would favor them all to arrive back together to create this triple entry accounting machine,” he knowledgeable CoinGeek Backstage.
Sunde, the CFO at Norwegian blockchain supply chain management firm UNISOT, believes TEA is a game-changer for auditors. In the paper, he outlines a way of verifying accounting ledgers and proving that only a single ledger exists.
“With the present double-entry accounting, folks can have extra than one models of books. They can reveal one book to someone, change the numbers, and reveal fictitious numbers to someone else. With triple entry accounting, we can outline a single source of truth that can be verified,” he added.
Triple Entry Accounting in AI
In addition to financial auditing, TEA has massive applications in artificial intelligence (AI),
Konstantinos Sgantzos features out.
Sgantzos heads the environmental sub-sector at the Public Energy Corporation S.A. (NASDAQ: PUPOF), the largest grid operator in Greece. He’s also a researcher at the
University of Sharjah in the United Arab Emirates with an hobby in AI and the large language models (LLMs) that underpin them.
At the conference, Sgantzos’s presentation centered on applying TEA to give protection to intellectual property (IP) in AI training. As the abilities takes root, one of essentially the most contentious themes has been around the consume of IP.
Almost every major AI developer faces dozens of lawsuits from artists, news organizations, authors, and varied creatives whose work has been mature to train LLMs without their data or consent. The New York Occasions sued OpenAI and Microsoft (NASDAQ: MSFT) over accusations of copyright infringement in a lawsuit it said was price billions of dollars last December. OpenAI was sued for $3 billion for alleged illegal net data scraping earlier last year.
Sgantzos says that with TEA, content creators can finally have control over who makes consume of their content and, the place applicable, get adequately compensated.
“The proposition is that each contributor can consume this way of triple entry accounting [and] a cryptographic proof so that they are aware that their content is being mature,” he knowledgeable CoinGeek Backstage.
For instance, an artist can embed a cryptographic signature into his art, allowing him to expressly consent at any time when an LLM machine seeks to consume that data to train.
At this time, models like DALL-E and Stable Diffusion can create art in seconds, leveraging millions of images of real art that took hours to make. Data reveals that since 2022, AI users have created over 15 billion images using existing AI tools. Ahead of AI, it took humanity 150 years to acquire as many images.
In relate for artificial intelligence (AI) to work merely within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain machine that ensures data enter quality and possession—allowing it to maintain data safe while also guaranteeing the immutability of data. Test out CoinGeek’s coverage on this emerging tech to learn extra why Enterprise blockchain can be the backbone of AI.
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