Distributed Ledger Technology (Blockchain)

Distributed Ledger Technology (DLT), commonly known as blockchain, is a secure, transparent way of recording and sharing data across multiple computers. Instead of a single entity controlling the information, multiple participants maintain a synchronized and tamper-proof record of transactions or data entries. This decentralization reduces the risk of fraud and increases trust, as all parties can verify and access the same information in real-time. Blockchain is best known for supporting cryptocurrencies like Bitcoin, but it also has applications in supply chain management, healthcare, and finance due to its integrity, security, and transparency.