Distributed Ledger Technology (DLT)
What is Distributed Ledger Technology (DLT)?
Distributed Ledger Technology refers to a digital system for recording the transaction of assets in which the transactions and their details are recorded in multiple places at the same time. Unlike traditional databases, distributed ledgers have no central data store or administration functionality.
Why It Matters
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It provides a high level of security and transparency by making records difficult to alter.
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It improves efficiency by allowing multiple parties to access and update the same record in real-time.
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It reduces the need for reconciliation between different organizations’ internal systems.
