Triple Entry Bookkeeping

11/4/25, 2:00 am

By Yash Goyal

Your real time auditor!

Double-entry bookkeeping records transactions in two accounts (debit and credit), ensuring balance but relying on trust and external audits. Triple-entry bookkeeping adds a third, cryptographically signed entry on a blockchain, creating an immutable and verifiable record. Unlike traditional systems, this reduces the need for reconciliations, enables real-time auditing, and minimizes fraud risks.

A little-known aspect of triple-entry bookkeeping is its potential to redefine credit scoring and lending by making financial histories fully verifiable and tamper-proof. Instead of relying on traditional credit agencies, lenders could assess businesses and individuals based on immutable transaction records stored on a decentralized ledger. This could enable instant loan approvals, reduce default risks, and open up financial access for those previously excluded from traditional banking due to incomplete or biased credit evaluations.

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An interesting and little-known fact about triple-entry bookkeeping is that the concept was first introduced by Yuji Ijiri, a Japanese accounting professor, in 1989—long before blockchain technology popularized it. His idea was not originally digital but aimed to enhance traditional double-entry bookkeeping by adding a third entry that served as an independent verification layer, improving accuracy and fraud prevention.