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Distributed ledger technologies (DLT), including blockchain, offer great potential for rapidly building and reinforcing trusted relationships between multiple stakeholders. As part of an advanced digital technologies stack, distributed systems can facilitate the building of shared datasets and align industry processes, removing single points of failure in multiparty or multi-owner systems.
We continue to explore the value of distributed systems, including DLT, for our target sectors, as well as establishing the enabling factors for broader industrial adoption.
For example, current paper-heavy legal agreements or contractual processes can be digitised and shared between all relevant parties to protect them from disruption. As well as de-risking inter-organisational agreements, the reliability, security and transparency of DLT eliminates the time it usually takes to establish trusted working relationships.