Distributed ledger is a term used in the fields of blockchain, crowdfunding, finance and digital transformation. A distributed ledger is a digital database that is not stored on a single computer, but on many computers simultaneously. These computers are often located in different places and constantly exchange information about the stored data.
The special thing about the distributed ledger is that all participants see the same status of the information at all times and changes are only possible if everyone agrees. This makes manipulation or fraud almost impossible and ensures a high level of security and transparency. A well-known example of a distributed ledger is blockchain technology, on which cryptocurrencies such as Bitcoin are based.
Imagine you keep a shared list of working hours with several colleagues. Instead of just having a folder or an Excel document, everyone has the same copy of this list on their computer. If someone changes something, everyone else sees it immediately and can check it. In principle, this is how a distributed ledger works: decentralised, secure and traceable for everyone involved at all times.
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