TrueUp, a company that "gathers" accounting and financial expertise to help companies build teams through challenges, launches a blockchain challenge open to US university students studying accounting, finance or data science.
While the competition is for students, accounting firms are encouraged to register to provide mentors to student teams. Confirmed participants include RSM, Eide Bailly, Withum, Warren Averett and several regional companies – interested companies have until 31 August to register. The registration of students closes on September 15th.
The goal of the challenge is in TrueUp's wheelhouse, which offers a real game or a puzzle to solve. The students are given a mission:
" The year is 2040 and the world is in financial chaos since the cyberhackers took over all accounting robots responsible for the insertion. automatic financial data in the company's blockchain registries The blockchains have been violated, while the robots that operate with artificial intelligence have received a virus only treatable with a secret code established in 2018. Your team has been commissioned by the President of the United States, Kim Kardashian, to go back in time until 2018 where the adoption of blockchain, bots and artificial intelligence in accounting and audit began.The International Blockchain Association provided you with documents, names of key people and other resources that will help you in your journey to solve the root of the problem. Mission: save the bots and protect the blockchain! "
The students will be assigned in m odo randomly in groups of three and each person within a group should assume one of three roles: the industry CEO, the review manager and the regulator. Each team will be paired with a representative of a real CPA company that will act as mentor. The mentor gives and receives: he will guide the student teams with his knowledge and experience in the field; provide additional information to students during the challenge while targeting intentional roadblocks; and also know the blockchain, the robots and the artificial intelligence for the profession along the way.
The teams are expected to install, maintain and control a blockchain, while also designing a bot. Some examples of possible activities include setting up a private blockchain register for a company, recording financial data in the blockchain ledger, performing control procedures on a blockchain ledger, designing a accounting bot to automate the insertion of financial data and the establishment of controls on an accounting bot to ensure integrity.
Oracle co-branding the competition, and the software company's team helped build the blockchain simulation for competing students to get a real and direct experience. Even the Wall Street Blockchain Alliance co-branding the event. MindBridge.ai, the creator of an AI audit system based in Canada, provides an audit tool based on artificial intelligence for part of the challenge.
The competition will start on September 20th with a webinar of an hour to inform the participants. The trial period will start on September 23rd and will close on October 6th, giving the teams about two weeks to work on the solution. The evaluation will end on October 13 and the winners will be announced on October 16th. For more information, visit https://www.trueupnow.com/blockchain .