#AES #Bitcoin §32 Double-Entry Ledger
During the 14th century, merchants in Venice and other Italian merchant cities developed a double-entry accounting method. Instead of exchanging gold for goods, merchants would orally describe the transaction to a scribe while the gold remained at a safe location. The debits were on the left half of the page, and the credits were on the right half of the same page. Each transaction recorded both sides of a transaction, so the total of one side had to equal the total of the other side. Traceability helped improve the accuracy of the records.
Solstin / Bryan Solstin
npub1wy…4z29n
2024-02-17 04:35:40
Author Public Key
npub1wycu76e2ejna3dqne8g9tu4hevqp7qfva4cq8gj5hd3n25du49rqj4z29nPublished at
2024-02-17 04:35:40Event JSON
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"content": "#AES #Bitcoin §32 Double-Entry Ledger\r\nDuring the 14th century, merchants in Venice and other Italian merchant cities developed a double-entry accounting method. Instead of exchanging gold for goods, merchants would orally describe the transaction to a scribe while the gold remained at a safe location. The debits were on the left half of the page, and the credits were on the right half of the same page. Each transaction recorded both sides of a transaction, so the total of one side had to equal the total of the other side. Traceability helped improve the accuracy of the records.",
"sig": "0f7ff002ecd9e544a102abf91de4e6deaa7d34653bd09918c4bd5539413a3abd8cd1635931a8f26036d94a21954da985e344d7719fe11cb9e71b96949e8c43bc"
}