Use of financial technology (fintech) in strengthening market infrastructure has been the buzzword in international fora. In particular, use of distributed ledger technology (DLT) holds a lot of promise for all transaction networks requiring non-repudiation and finality through maintenance of real time updated transaction ledgers.
Conventional “non-distributed”  10  BIS central bankers’ speeches  systems like payment systems and clearing/settlement systems use centralised ledgers. DLT achieves this in a decentralised manner while (i) keeping the identities of the participants unknown and (ii) without any central agency regulating the participants or the flow of transactions. Bitcoin represents one end of the applications spectrum of “permissionless”, completely decentralised transactions.