Shared Ledger Technology is the technology that drives crypto currencies like Bitcoin, Ethereum and others. But this technology is not limited to currencies - it has many applications - one of which is optimizing ledgers so that a single source of truth prevails in business transactions.

1. Shared Ledgers for businesses
Content written by: Ibrahim Muhammadi - founder of AppWorx.cc
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2. You don't have to buy Bitcoin to benefit
from its underlying technology.
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3. Whether you invest in Bitcoin or not, the technology
behind Bitcoin will change the ways B2B accounting,
verification and audit takes place.
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4. This technology is called blockchain
technology or shared ledger technology.
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5. Today’s scenario
• You maintain your ledger
• Your customer maintains their
own ledger
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6. • That means, all payments and invoices
have to be entered twice and have to
be reconciled separately to arrive at a
receivable or payable figure that both
you and your customer can agree
upon.
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7. This leads to a wastage of accounting
and audit resources and loss of time
and money.cc: Olga DeLawrence - https://unsplash.com/@walkingondream?utm_source=haikudeck&utm_medium=referral&utm_campaign=api-credit

8. • It also creates a “batch process”
instead of “real time process”. Both
you and your customer have to sit
together once in a few weeks/months
to be able to settle the differences in
your individual ledgers.
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9. A revolution in technology has now made it
possible to create decentralized ledgers that no
single party owns or controls.

10. Since no one can control a distributed and
decentralized ledger, all parties can trust the entries
made to such a ledger and hence do not need to
maintain their own ledgers.cc: rawpixel.com - https://unsplash.com/@rawpixel?utm_source=haikudeck&utm_medium=referral&utm_campaign=api-credit

11. Such a ledger is highly secure too. In fact it is so secure that
Bitcoin, Ethereum and other digital currencies are running
on top of such a decentralized and distributed ledger
technology.
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12. So now, you and your customer can
maintain one shared ledger instead of
separate ledgers.cc: Hoffnungsschimmer - https://www.flickr.com/photos/57226814@N03

13. This can save a lot of time and money on
accounting, reconciliation, verification and
audit.
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14. This also reduces chances of errors,
manipulation and fraud.
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15. It reduces friction of trying to reconcile 2
separate ledgers since all parties will be
referring to one source of truth.
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16. Leads to easier settlements and real-
time agreement on the state of the
ledger.cc: Aidan Jones - https://www.flickr.com/photos/25945304@N00

17. Components of this technology:
• Distributed ledgers stored on
multiple independent nodes
• P2P transaction verification in
real time
• Time tested consensus algorithms
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18. Properties of this distributed shared ledger:
• Immutable ledger where no party can
change or delete any existing record
• Only addition of records or transactions
are possible when consensus is reached
• No system administrator or server
admin or single point of control
• No single point of failure
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19. AppWorx.cc can develop custom built
accounting & other applications using shared
ledger technology.
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20. • We have been in the blockchain
application development space since
early stages of Bitcoin and Ethereum
and can develop a wide range of
decentralized applications for your
organization.
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21. info@appworx.cc
Free consulting
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