Indeed, the invention of double-entry bookkeeping has been credited as one factor enabling capitalism. 7 It makes me wonder what people will say about distributed ledgers 100 years from now. Let us first remind ourselves what this technology brings to the table. The exact features of DLT vary, depending on the needs it fulfills.
At its core, it is a computer protocol that allows many participants to record information on a single ledger that is shared among users, so each one sees the same data. A consensus mechanism and modern cryptography ensure that stakeholders agree that entries to the ledger are authentic.