A roundtable at the Point Zero Forum, currently ongoing in Zurich, brought together policymakers and business executives to discuss Distributed Ledger Technology (DLT) and its potential applications in the banking, finance, insurance, and payment sectors.
DLT is a cutting-edge innovation that enables a group of users to collaborate on and update a single, decentralised database in real-time. It's the distributed ledger that eliminates the requirement for a trusted third party to track and authenticate transactions made on the network.
Cryptocurrencies like Bitcoin and Ethereum are built on blockchain technology, one of the most well-known uses of DLT. But DLT goes beyond cryptocurrencies to improve efficiency, security, and trust in transactions and data management across various businesses.
