Distributed Ledger is a term from the fields of blockchain, crowdfunding and finance, as well as digital transformation. A distributed ledger is a digital database that is stored not on a single computer, but on many computers simultaneously. These computers are often in different locations and constantly exchange information about the stored data.
The special thing about a distributed ledger is that all participants see the same state of information at all times, and changes are only possible if everyone agrees. This makes manipulation or fraud almost impossible and ensures high security and transparency. A well-known example of a distributed ledger is blockchain technology, on which cryptocurrencies like Bitcoin are based.
Imagine you're keeping a shared log of working hours with several colleagues. Instead of just having one folder or an Excel document, everyone has the same copy of this log on their computer. When someone makes a change, everyone else sees it immediately and can review it. That's essentially how a distributed ledger works: decentralised, secure, and traceable by all participants at any time.
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