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In recent decades technology has advanced rapidly, and inventions that have made
our lives easier have emerged. Among the many life changing inventions, Blockchain facilitates our
financial activities, for example banking, commerce and accounting, because it eliminates the need
for a third party, thus saving us time and money. With its help, we can manage and record asset
movements, contracts and their fulfilment, as well as other data by cryptographic methods. In the
following article, firstly I will describe the concept and operation of Blockchain and the advantages
of using it in the field of accounting. After that I will introduce the accounting principles, based on
the Hungarian Accounting Act. Finally, I will address the legal questions raised by applying the
accounting principles to Blockchain when they are used in the process of accounting.
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