Analysis of the Distributed Ledger Technology (DLT)
The meeting, organized by the Commercial Law Department, was headed by Professor- Researcher Ligia Catherine Arias Barrera.
The lecturer addressed her research on DLT and analyzed the interaction between the principles of corporate governance and DLT governance mechanisms. The expert opened the discussion on if the adoption of the DLT system could resolve relationships, usually intertwined, between transparency, corporate power, and decision-making within societies.
Distributed Ledger Technology (DLT) “is a database managed by several participants without a central administrator (…) Data distributed increase transparency – hindering any fraud or manipulation – and the system is more difficult to ‘hack’ (…) Analysts and industry experts believe DLT can have a major impact in different areas of the financial sector,” according to the BBVA Bank website. https://www.bbva.com/es/diferencia-dlt-blockchain/
Likewise, DLT offers a transparent records management system, to achieve, as mentioned above, high-level security, as each unit carries copies of records on the computers of all the participants. Any difference in the information held by individuals and the system is reconciled and corrected simultaneously, without a central administrator, through the system processor.