Information technologies are an indispensable driver of changes in business. Throughout history, they represent a significant factor in the development of accounting information systems. Application of information technologies brings many advantages to accounting, such as automation and improvement of data reliability, but also certain challenges. Application of new information technologies requires professional accountants to develop new skills related to information technologies. According to the research results, trends in the application of information technologies in accounting are cloud computing, big data, artificial intelligence, and blockchain technology. The subject of this paper is the research of the characteristics of blockchain technology and the possibility of applying blockchain technology in accounting. The goals of this paper are to investigate trends in the application of digital technologies in accounting, to explore the possibilities of applying blockchain technology in accounting, to identify potential advantages and challenges of the application blockchain technology in accounting and the implications of the application of blockchain technology for professional accountants.