Explore the future of cryptocurrency bookkeeping in Europe, its benefits and challenges, and its potential impact on the accounting industry.
A digital asset is anything that exists in a binary format and comes with the right to use.
A digital asset, in the context of blockchain and cryptocurrency, refers to any asset that exists in a binary format and comes with the right to use. Data that do not possess that right are not considered assets. Digital assets include but are not exclusive to digital documents, audible content, motion picture, and other relevant digital data that are currently in circulation or are, or will be stored on digital appliances such as: personal computers, laptops, portable media players, tablets, storage devices, telecommunication devices, and any and all apparatuses which are, or will be in existence once technology progresses to accommodate for the conception of new modalities which would be able to carry digital assets. In the case of cryptocurrencies, each individual coin or token is considered a digital asset.
Owning Bitcoin, a type of digital asset. Bitcoin, as a cryptocurrency, is considered a digital asset. Ownership of Bitcoin is proved by possession of the associated private keys, which digitally sign transactions