distributed ledger technology , also: shared ledger , DLT (abbreviation)

To realize the potential of distributed ledger technology in a responsible manner and to avoid a disconnected maze of silo-ed solutions, the industry must work together in a coordinated fashion.

Financial Times reporter Kadhim Shubber wrote that the new additions are "a sign the industry is gathering behind R3 in one potential implementation of the distributed ledger technology behind the currency bitcoin."

Tech company R3 CEV has persuaded more than 40 banks around the world, including Barclays, UBS and Wells Fargo, to join a consortium exploring distributed ledger technology.

Blockchain applications are also called "distributed ledger technology" because they remove the need for a centralized database and, like Bitcoin, give every transaction in a particular system a cryptographic hash that can be checked by any member of the group.

Government Chief Scientific Adviser Sir Mark Walport challenges Civil Service leaders to identify the best opportunities for exploiting the transformative potential of distributed ledger technology.

These examples highlight the potential of distributed ledger technology and the opportunities for the UK to improve delivery of services, both in government and the wider economy.

My most recent project brought together experts to examine the extraordinary potential of distributed ledger technology.

Applying distributed ledger technologies in the registration and payment processes for government grants and benefits could prevent financial losses through fraud and error and support the most vulnerable citizens through full financial inclusion.

The arrival of distributed ledger technologies with their ability to create a banking system with no need for traditional banks.

This report sets out the findings of a review exploring how distributed ledger technology can revolutionise services, both in government and the private sector.

A new report by the Government Chief Scientific Adviser sets out the future of distributed ledger technology.

Distributed ledger technology could provide government with new tools to reduce fraud, error and the cost of paper intensive processes.

Distributed ledger technology has the potential to transform the delivery of public and private services.

With our world-class digital capability and strong research community, the UK is well placed to reap the potential benefits of distributed ledger technology.

View the report 'Distributed ledger technology: beyond block chain'.

To complement this work, the government has launched a research initiative which will bring together the Research Councils, Alan Turing Institute and Digital Catapult with industry, in order to address the research opportunities and challenges for distributed ledger technology.