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      "body": "Congratulations @asadabbas! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@asadabbas/birthday2.png</td><td>Happy Birthday! - You are on the Steem blockchain for 2 years!</td></tr></table>\n\n<sub>_You can view [your badges on your Steem Board](https://steemitboard.com/@asadabbas) and compare to others on the [Steem Ranking](https://steemitboard.com/ranking/index.php?name=asadabbas)_</sub>\n\n\n###### [Vote for @Steemitboard as a witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1) to get one more award and increased upvotes!",
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      "body": "Congratulations @asadabbas! You received a personal award!\n\n<table><tr><td>https://steemitimages.com/70x70/http://steemitboard.com/@asadabbas/birthday1.png</td><td>1 Year on Steemit</td></tr></table>\n\n<sub>_[Click here to view your Board](https://steemitboard.com/@asadabbas)_</sub>\n\n\n**Do not miss the last post from @steemitboard:**\n<table><tr><td><a href=\"https://steemit.com/steem/@steemitboard/steemwhales-has-officially-moved-to-steemitboard-ranking\"><img src=\"https://steemitimages.com/64x128/https://cdn.steemitimages.com/DQmfRVpHQhLDhnjDtqck8GPv9NPvNKPfMsDaAFDE1D9Er2Z/header_ranking.png\"></a></td><td><a href=\"https://steemit.com/steem/@steemitboard/steemwhales-has-officially-moved-to-steemitboard-ranking\">SteemWhales has officially moved to SteemitBoard Ranking</a></td></tr><tr><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-01-07\"><img src=\"https://steemitimages.com/64x128/http://i.cubeupload.com/7CiQEO.png\"></a></td><td><a href=\"https://steemit.com/steemitboard/@steemitboard/steemitboard-witness-update-2019-01-07\">SteemitBoard - Witness Update</a></td></tr></table>\n\n> Support [SteemitBoard's project](https://steemit.com/@steemitboard)! **[Vote for its witness](https://v2.steemconnect.com/sign/account-witness-vote?witness=steemitboard&approve=1)** and **get one more award**!",
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      "body": "![](https://steemitimages.com/DQmPsi2nsNJcD1hbWDVqgfmdkp4GHGNP3VpXtDZXBWoRSvT/image.png)\nBlockchain presents a challenge to the traditional audit approach, given there’s no practical way to use point-in-time forensic analysis—the standard audit tool. Assurance in a blockchain environment derives from irrefutable transaction history and integrity. So in essence, you have a system that has full integrity, that’s 100% accurate. Attempting to conduct a point-in-time forensic retrospective analysis is ineffective and wildly inefficient. This approach negates one of the benefits of implementing blockchain in the first place: the promise of increased administrative efficiency.\n\nOf course, you still need blockchain audits to build confidence and assurance in the technology. But the audit itself will look very different. The standard approach will be replaced by a process that’s closer to auditing of transactions in real time, and this change will prove challenging for most internal audit departments.\n\nThe concept behind real-time auditing is to inspect transactions closer and closer to the point of occurrence, and there are many ways to accomplish this. In blockchain, it's a complicated process that requires a second underlying technology and tapping into the processing itself, in order to create the transparency that third parties require.\n\nReal-time auditing eliminates the traditional concept of sampling. The purpose of sampling is to perform backward-looking assessments of segments of populations to draw conclusions about the rest of the population. Blockchain technology offers new assurance-related baselines that eliminate the need for sampling. In a blockchain ledger, you have an up-to-date, immutable historical record, so auditing in the blockchain environment requires a very different mindset and approach.\n\nRegulatory uncertainty\nRegulators also grapple with the uncertainty surrounding blockchain. Driving the uncertainty is that blockchain is a technological concept, not an institutional product, and there are dozens of variants. If we looked at 20 of our clients who are deploying blockchain, we would find that they all resulted in different use case scenarios. This variation creates a significant regulatory challenge, since regulation in its simplest form is all about standardization. Until we see something closer to standardization in blockchain, we’re not likely to see meaningful regulatory standards emerge. But as the technology matures and variants are reduced, I think we’ll see a firmer foot put forward by regulatory bodies.\n\nIn the meantime, auditors of blockchain solutions will still be required to comply with existing regulations, such as AML and KYC. The only difference will be in how they go about meeting those requirements and providing the transparency regulators need to assure they are being met",
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      "author": "asadabbas",
      "body": "I am Asad Abbas from Multan, Pakistan. I am 26 years old. I am a Chartered Accountant and pursuing my career in field of Audit and Corporate Tax. I am here to learn crypto trading and steemit. \n\nSaty Connected Stay blessed",
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      "body": "![blockchain.png](https://steemitimages.com/DQmSv8QscLoKAsj2CtVPNqu95VQwZ8ipNYmtMrDhxvAmGSK/blockchain.png)\n\nGoldman Sachs says blockchain technology “has the potential to redefine transactions” and will “change everything”. But anyone who claims to fully understand how blockchain works, and is not named Satoshi Nakamoto, is probably lying to you. And anyone who claims to be Nakamoto himself, is probably also lying to you. Fortunately, just like the internet, you don’t need to know how blockchain works to use it.\n\nBut here are the basics… a blockchain is a continuously growing list of records, called blocks, which are linked and secured using cryptography. By design, blockchains are inherently resistant to modification of the data, and serve as a public ledger of transactions between two parties. To date, the best analogy I’ve heard for blockchain compares it to a Google Doc:\n\n“The traditional way of sharing documents with collaboration is to send a Microsoft Word document to another recipient, and ask them to save the document, make revisions to it, and send it back. The problem with this scenario was that you needed to wait to receive a return copy before you could see or make changes to the document. You are locked out of editing it until the other person is done with it. That’s how banks work today—they maintain money balances and transfer money by briefly locking access to the account (or decreasing the balance) while they make the transfer, then they update the other side, then re-open access (or update the balance).\nWith a Google Doc, all parties have access to the same document at the same time, and the most up-to-date version of that document is always visible and editable to all parties. This real-time shared Google Doc is just like a distributed blockchain ledger. The “real version” of the transaction is verified by analyzing all the available blocks on multiple computers and taking “the average”.\nThe decentralized and transparent nature is what makes blockchain highly secure and almost impossible to hack, because a hack to one ledger would cause a discrepancy in the entire network that will be ignored. Functionally, to hack the ledger one would have to hack all the computers on a network at the exact same time in order to change the “average”. For a currency like bitcoin, this would mean millions of computers. So the larger the network, the more stable the currency.",
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