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Abstract
Technology creates disruption; this is proven in each and every industry on a day today basis. Accounting as a process there was not a big transformation happened in it apart from the manual accounting to systematic approach, which in turn leads the accountant to be computer friendly. In the recent scenario Block chain has gained increasing prominence over the past year. Encompassing as a technology behind crypto currency exchanges, it has now shown promise in almost every other sector of the economy as it’s a secure, reliable and tamper-proof way of recording transactions and exchanging data. Block chain helps with verification of information and news; it can create better user control mechanisms. Block chain ensures the decentralization which in turn ensures the privacy and security through a distributed consensus mechanism. It serves to be a transformation as such World Wide Web changed the scenario. Block chain technology has the prospective to flip over entire sectors; particularly the financial sector may undergo disruptive change. Block chain technology has caught the interest of many of the largest financial institutions, the block chain it is basically created to record crypto currency transactions, later on it has involved into various domains such as banking, financial markets and insurance. The paper would discuss on how block chain could facilitate a real time and transparent accounting system.