How could an ethereum blockchain application (or any blockchain application), prevent a company from fooling its stockholders through manipulating its books and records? My understanding is that a blockchain can only keep track of transactions that happened within a blockchain. How would the blockchain know, for example, if a company is inflating sales of its products?
Even if this company were using blockchain, the stockholders still would need to rely on the truthfulness of the company officers who are responsible for inputting their financial information into the chain.
I am reading The Truth Machine now which mentions blockchain being used for this purpose, and I wanted to clarify how this is possible.
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