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Monday, October 18, 2021
Home News Avalara Tax Software Giant Bullish on Blockchain

Avalara Tax Software Giant Bullish on Blockchain

Tax software company Avalara plans to further disrupt the status quo in what they call the ‘scintillating’  world of sales tax management by pivoting hard to Blockchain technology solutions for the industry.

According to a report in Accounting Today from writer Michael Cohn,  Avalara executive vice president of engineering Peter Horadan compared it to innovations like the cell phone.

“It’s not just about financial transactions or Bitcoin,” Horadan said during Avalara’s Crush New Orleans conference Wednesday. “It’s something that can be adapted to the work that we all do and it may affect the future of how we do our jobs.”

He noted that Nasdaq has begun trading securities using Blockchain.

“Ultimately Blockchain is a shared public ledger,” said Horadan.

“What’s happened is that the technology has really grown beyond Bitcoin because people have realized this technology has great application beyond Bitcoin itself,” said Horadan. “It can actually transform a whole bunch of business processes.” The blockchain tracks ownership and has properties such as synchronization. “We have a shared ledger where we all have a view of the ledger,” said Horadan. “Imagine us all looking at this set of journal entries and we can all see the same thing.”

“When we get up every day, we know we’re swimming with the current, and we’re trying to accelerate the inevitable,” said McFarlane. “We all know this is going to be automated over time. Nobody’s going to be doing what we do in manual fashion 10 years from now or 15 years from now. All we try to do is get out there and accelerate what’s happening.”

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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