Auditors vs. Blockchain Economy

It is important to note that while auditors can enhance the verification process, a fully functional blockchain economycan still operate without the need for auditors. In many cases, organizations may already have public documentation that proves their ownership of assets. Investors could independently verify these claims by contacting relevant authorities, checking public records, or using online databases.

However, auditors are a powerful addition because they provide an additional layer of verification and reputation management. Auditors can act as a decentralized verification network that ensures organizations are held accountable. But the key is that the blockchain can still operate without this oversight, as long as sufficient documentation is provided by the organization, and due diligence is conducted by the investor.