A distributed ledger
(also called as DLT
, shared ledger, distributed ledger technology
) is a type of database that is shared across a network of computing devices (nodes) and has consensus algorithm that ensure nodes have identical copies of database. A peer-to-peer network is required to maintain distributed ledger.
A distributed ledger may employ a blockchain or other method of storing records and providing a secure and valid distributed consensus.
In 2006, HM Government of Gibraltar in DLT framework
proposed following use case ideas:
- Post-trade settlement
- Securities custody
- Trade finance
- Reference data
- Regulatory reporting
- Cross-border payments & remittances
- Mortgage loan application
- Insurance placement and contract lifecycle documentation
- Insurance claims management
- Proof of insurance
- Managing insurance policies for multinational clients
- Know-Your-Customer (KYC/AML)
- Inter-firm accounting reconciliation
- Tracking insurance policies imposing operational limits on policyholder
- Bail bond cancellation
- Excess of loss reinsurance
- Retail insurance portfolio management
- Identity management
- Companies register
- Land register
- Asset tracking
- Supply chain
1] DLT framework.
HM Government of Gibraltar. Last accessed 18 Oct 2018.