Distributed Ledgers in Payments: Beyond the Bitcoin Hype
The report spends time describing âestablished technologies, â that distributed ledgers combine. The block chain, Digital signatures, A consensus mechanism, and A digital currency.
Distributed Ledger Technology: beyond block chain
This report makes a number of recommendations which focus on ministerial leadership, research, standards and the need for proof of concept trials. Secondly, this report is not about Bitcoin. It is about the algorithmic technologies that enable Bitcoin and their power to transform ledgers as tools to record, enable and secure an enormous range of transactions. So the basic block chain approach can be modified to incorporate rules, smart contracts, digital signatures and an array of other new tools.