The role of Distributed Ledger Technology (DLT) in Designing Crypto currency and Digital currency

Resumen

A digital currency that is encrypted is known as a crypto currency or crypto. Individual
ownership records are kept in a digital database and utilized as a means of exchange. They are
not subject to any country's official regulation, making them impervious to meddling and
manipulation. This study's objective is to research and clarify how Distributed Ledger
Technology (DLT) contributes to the development of crypto currencies and digital currency and
to study the connectivity between the crypto currencies with DLT technology and DLT
technology future applications. Data collection method for this study is secondary data from
Journals, magazines, IMF reports and RBI reports, other countries financial institutions database.
DLT is also called Block chain technology. Nowadays this technology is most important and
inevitably accepted technology in various businesses sectors. Particularly DLT uses in banking
sectors and financial institution sectors makes reductions of transaction cost, transparency in
theirs activity. Bit coin, Hyper ledger, Algorand, Ethereum and Corda R3 are the various
development platforms of DLT in the globe. More than 2500 patents filed over the last 5years
around the world and there are many research projects is going about DLT in central bank. More
than 100 big giant corporations have joined together in the block chain consortium and more
than 1.5 billion US dollar amount invested in DLT technology over the past five years.
Worldwide, many banks are ready to adopted DLT in their normal activity (World Economic
Forum 2016). Implementing of DLT application in future may be possibly in the all business
sectors with the higher security.