Those involved in business systems recognized that business system innovation has stagnated for decades now; the principles behind bookkeeping were easily automated and saved tremendous amounts over manual processes. But once automated, potential significant improvements are rarely discussed for long or in depth.
Sharealedger is a collaborative project to reverse this trend, to explore innovation in business systems, and to find ways of improving society through the process. It includes sharing information about ledgers, regenerating long-forgotten knowledge embedded in all major business systems today, and considering if actually sharing data among organizations might spark a new round improvements in society.
The effort was started in 2020 by Kip Twitchell, as an outgrowth of his efforts in Ledger Education (see LedgerLearning.com). It hosts collaborative discussions with various interested parties, of various types and durations. The results of these discussions are presented in various ways, including video of conversations, presentations, and agreed upon write-ups.
The first project effort was a presentation given for Michigan State University students under the direction of Dr. William E. McCarthy, the inventor of the Resource, Event and Agent model of business systems.
The slides used in the presentation can be located on the detailed report of activity.
AI and Accounting
This lecture resulted in a referral from Dr. McCarthy for me to have a conversation with Tom Hall. Tom had written a paper exploring how to making the process of understanding entities through their accounting data more efficient, greatly expanding the types of things that could be known, and the efficiency of them.
The paper and introduction resulted in a series of three nearly hour long discussions about his paper, having him explain the concepts to me in more simple ways, but building up to the formulas which he believes could become the basis for greater machine automation to broaden the impact of financial data understanding upon our world.
Time and Scope
Adeolu “Ade” Alao and Kip Twitchell engaged in a nearly a year long set of discussions on wide ranging topics about ledgers, and sharing ledger data, and were recently joined by Sandy Peresie. These include increasing the predictive nature of our financial systems; like location of storage of financial data for shared purposes; linking business events which are now outside of the accounting process; distributed ledger technologies, and personal financial management uses.
Other In-Process Exchanges
Additional exchanges are underway under Sharealedger, and will be shared when complete:
- Value Measurement Documentation of discussions numerous over the years between Kip Twitchell and Steve Turner involving value measurement are ongoing. Steve is the lead creator of an approach called Enterprise Value Integration which has relationships to McCarthy’s REA framework, and is an element in these discussions.
- Sharealedger Prototype Early on evaluation of what the implications would be, and the relationship to the GenevaERS project where presented in May 2019. Stay tuned for this report.
Stay tuned for these reports.
Use the Contact page if you would be interested in joining or starting a new exchange as part of Sharealedger.org’s mission. We would love your input and contributions.