Is It Worth Implementing Distributed Ledger Technologies Worldwide?
The existence of account books in paper form is measured not by one millennium. In fact, this is a kind of “database” in which the transactions are registered. With the development of computer technology, when the account books have become digital, it has become more convenient and easier to use them. At the same time, throughout the history, the operations and reporting have been subjected to thorough checks by central authorities. In our time, cryptography and software algorithms are applied in working with accounting data. Distributed Ledger Technologies (DLT), including Blockchain, is an innovative, effective and secure way of exchanging assets (finance, securities and personal data). Rapidly capturing almost all spheres of business, including healthcare, energy, logistics, telecommunications and the financial sector, DLT contributes to the intensive decentralization of modern business. Mechanism of Distributed Ledger Technology (DLT) Distributed Ledger Technology is a decentralized digital register containing blocks that are linked by a network of computer nodes. Thus, Blockchain technology is a decentralized account book, in each block of which the information...
