Table 1 Differences Between Blockchain-Based Accounting Method and Traditional Ledgers

Decentralized; Distributed storage, each peer has the same ledger

Centralized; Each participant only saves its own ledgers

Traceable, each transaction is recorded

Untraceable, whether the transaction is recorded or not is determined by the participant

Transaction records cannot be tampered after multiple verifications

Each participant is able to modify their own ledgers

Channel and Privacy Data Collections in Hyperledger fabric are designed to protect data privacy

Protecting user’s privacy with a login password

Data sharing and privacy protection are both implemented

Data sharing is not implemented