What Is Distributed Ledger

Q

What Is distributed ledger?

✍: FYIcenter.com

A

A distributed ledger, also called Distributed Ledger Technology (DLT), is a consensus of replicated, shared, and synchronized data storage based the blockchain technology.

The Distributed Ledger Technology can be used to change the way we do business today in many areas.

Take international money transfer as an example. Today if you transfer money to your friend in another country, the transfer transaction will be recorded in a centralized ledger managed by a clearinghouse trusted by your bank and your friend's bank.

If Distributed Ledger Technology is used by your bank and your friend's bank, the clearinghouse is not needed any more. The transfer transaction will be recorded directly to same ledger that is distributed and shared by both banks.

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2019-04-09, 233👍, 0💬