A distributed ledger (also called a shared ledger, or referred to as distributed ledger technology) is a consensus of replicated, shared, and synchronized digital data geographically spread across multiple sites, countries, or institutions. There is no central administrator or centralised .
A peer-to-peer network is required as well as algorithms to ensure replication across nodes is undertaken.
In 2016, numerous banks tested distributed ledgers for international payments.
Incumbent banks are investing heavily in distributed ledgers as a cost-saving measure and a way to reduce .