Blockchain Technology and Panel Data Regression Methods: applications to Accounting and Auditing

Abstract

This study aims to propose a regression methods applied to evaluate Blockchain technology. Among the statistical methods proposed, we applied a panel data regression model with 7,300 observations, with 10 blockchain variables. The main variable adopted for the study was the daily variation in the value of cryptocurrencies, which was obtained through a calculation involving the opening and closing price of each day. Using big data, results show several informations applied to accounting and auditing, extracted from the 10 most valuable cryptocurrencies. These cryptocurrencies make use of Blockchain technology, considered by experts an innovation as important as the internet itself, through which information can be stored and interconnected with each other, and are already changing accounting and auditing.