A Distributed Ledger is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people. It’s an open source system that allows anyone to access the information stored on it without needing a third party intermediary.This includes companies as well as governments since governments can use distributed ledgers to securely record property ownership and tax information. Since all users of the system have access to all information stored on the ledger, this makes it tamper-proof as no one can change information without being noticed by other users. Transactions on a distributed ledger are processed through codes called “transactions” which are also referred to as “contracts” or “notarizations” depending on their purpose.A distributed ledger is a database that is consensually shared and synchronized across multiple sites, institutions, or geographies, accessible by multiple people. It’s an open source system that allows anyone to access the information stored on it without needing a third party intermediary.This includes companies as well as governments since governments can use distributed ledgers to securely record property ownership and tax information. Since all users of the system have access to all information stored on the ledger, this makes it tamper-proof as no one can change information without being noticed by other users. Transactions on a distributed ledger are processed through codes called “transactions” which are also referred to as “contracts” or “notarizations” depending on their purpose.
