Distributed Ledger Technology (DLT): Introduction

11 Pages Posted: 23 Oct 2018

Date Written: October 16, 2018

Abstract

Distributed ledger technology is attracting the attention of the financial sector, both owing to its use in transactions with crypto-assets and to the proliferation of initiatives which have the potential to increase the efficiency, transparency, speed and resilience of processes underlying financial transactions. This article aims to introduce this technology, describing a series of basic issues surrounding it and attempting to identify opportunities and intrinsic limitations. Additionally, it addresses possible applications in the financial sector and outlines some of the main challenges which its use poses for the authorities.

Keywords: DLT, distributed ledgers, bitcoin, crypto-assets, cryptography, innovation, technology

JEL Classification: O31, O33

Suggested Citation

Romero Ugarte, José Luis, Distributed Ledger Technology (DLT): Introduction (October 16, 2018). Banco de Espana Article 19/18. Available at SSRN: https://ssrn.com/abstract=3269731

José Luis Romero Ugarte (Contact Author)

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

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