Ledgers, Distributed and Otherwise
A Distributed Ledger Technology (DLT) is a modern IT innovation enabling the forming of consensus across a distance, within a reasonable amount of time. This makes things like crypto-currencies feasible and practical, as far as the technical aspects of them are concerned. The main challenge that DLTs overcome is creating consensus, since achieving this among different parties that don’t know each other is difficult, especially if a high level of security is required.
What all this means is that with DLT you don’t have any need whatsoever for a middle man, to coordinate the whole process of the transaction, something that translates to better efficiency and lower cost for the user. This, combined with the high level of security a DLT offers, makes it a very promising technology that can benefit various industries.