Hi. It’s been a little while since my last post… I guess I’ve been spending too much time on x. Here’s a quick post about something I’ve been thinking about since the debut of ethereum.
I think it may finally be possible with today’s technology.
Double entry bookkeeping.
Those old venetian bookkeepers who invented the double entry ledger accounting that is still used throughout the world today would have loved radix.
Or it would have just simply blown their brains out.
Full stack dapp!
I’m finally going to have a go at programming a full stack accounting dapp using xrd – I think I have all the tools i need using scrypto and radix.
I have successfully done this before in an entirely different ecosystem – window server, asp.net and sqlserver.
It’s going to be interesting and may take some time as it’s only me at the moment.
What about transaction fees?
My roadblock in attempting this in the past using blockchain has always been the transaction fees because every single ledger entry will require a transaction fee.
This was why I was so fixated on iota (zero transaction fees) and quickly gave up on ethereum.
Radix also has transaction fees that will need to be paid; however, last night’s epiphany was that all traditional software accounting packages have to be paid for and now that most have moved to a monthly/annual subscription base, as long as the transaction fees on radix are less than the regular software subscription costs then this is not a problem.
What about privacy?
The other consideration is the public visibility of the accounts which is both a strength and a weakness of blockchain.
But i’m not too worried about privacy issues at the moment.
I just want to see if it can be done!!
A proof of concept, if you like.