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22.12 - 20:43
Complete ban on private cryptocurrencies recommended: What in store for crypto investors?
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financialexpress.comBy Yashesh Ashar, Partner, Bhuta Shah & Co LLP
Internationally, the application of Distributed Ledger Technologies (‘DLT’) is being explored in the areas of digital identity management or KYC requirements, cross-border fund transfers and clearing and settlement systems, insurance, collateral and ownership (including land) registries, e-stamping, securities and financing. DLT allows the recording, sharing and transfer of data or value without the need for a central record keeping as in the case of a traditional ledger. Such records are immutable and non-repudiable. This obviates the need for keeping data centralised as in a traditional ledger.
The advantages of using DLT are mainly seen in terms of reducing administration and transaction
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