Published 22-03-2023
Keywords
- artificial intelligence,
- Blockchain,
- blockchain auditability,
- compliance
This work is licensed under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International License.
How to Cite
Abstract
Blockchain technology has emerged as a transformative force in enhancing auditability and compliance across industries, offering unparalleled transparency, immutability, and decentralization. This article explores the multifaceted role of blockchain in creating reliable audit trails, improving regulatory compliance, and addressing challenges in privacy, scalability, and interoperability. It examines how blockchain's integration with technologies like artificial intelligence (AI) and smart contracts streamlines compliance processes, reduces human error, and ensures real-time monitoring. Additionally, the article highlights practical applications in finance, supply chain management, healthcare, and public governance, demonstrating blockchain's ability to foster trust and accountability. Despite its promise, the article identifies key challenges, including balancing transparency with privacy, addressing scalability limitations, and navigating evolving regulatory landscapes. Looking forward, advancements such as privacy-preserving technologies, interoperability frameworks, and regulatory sandboxes are poised to redefine blockchain auditability, making it a cornerstone of modern compliance practices. This analysis underscores blockchain's potential to reshape governance frameworks, delivering transparency, efficiency, and trust in an increasingly digitized world.
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