Triple Entry Accounting expands on traditional double-entry accounting by incorporating a third entry for verification. In this approach, every transaction is recorded in three places: on the sender’s ledger, the receiver’s ledger, and a decentralized, tamper-proof ledger—often a blockchain.This third entry serves as an immutable record. It enhances transparency and security, as it allows all parties to view the same transaction history without altering individual records. Each participant can verify the transaction independently, reducing the chances of fraud.With Triple Entry Accounting, the roles of trust and audit change. Trust is built into the system through the blockchain, minimizing reliance on centralized authorities. This method is particularly useful in ecosystems where trust is vital, as it enables real-time auditing and ensures data integrity. Overall, it offers a more robust framework for recording financial transactions, complementing traditional accounting practices.